A-13.1.1, r. 1 - Individual and Family Assistance Regulation

Section 128 Disposition versions

2023-01-01

128. Liquid assets include, subject to the third paragraph of section 177.101, everything that an independent adult or a family owns in cash or in an equivalent form and the value of assets that may be converted into cash in the short term such as

(1)  sums, whether demand deposits or term deposits, that a financial institution holds on deposit for the adult or the family or sums it holds on behalf of the adult or family if they have ready access to the sums;

(2)  securities the adult or the family owns if the securities are currently traded on the market;

(3)  debts for which the adult or family may obtain immediate repayment; and

(4)  any assets negotiable at sight.

Liquid assets include the value of a term deposit made on behalf of an independent adult or a member of a family, even if the adult or family member does not have ready access to the funds, if the deposit is made while the adult or family is a recipient under a last resort financial assistance program or to qualify the adult or the family under such a program.

O.C. 1073-2006, s. 128; O.C. 1140-2022, s. 28.

2012-09-01

128. Liquid assets include everything that an independent adult or a family owns in cash or in an equivalent form and the value of assets that may be converted into cash in the short term such as

(1)  sums, whether demand deposits or term deposits, that a financial institution holds on deposit for the adult or the family or sums it holds on behalf of the adult or family if they have ready access to the sums;

(2)  securities the adult or the family owns if the securities are currently traded on the market;

(3)  debts for which the adult or family may obtain immediate repayment; and

(4)  any assets negotiable at sight.

Liquid assets include the value of a term deposit made on behalf of an independent adult or a member of a family, even if the adult or family member does not have ready access to the funds, if the deposit is made while the adult or family is a recipient under a last resort financial assistance program or to qualify the adult or the family under such a program.

O.C. 1073-2006, s. 128.