I-3 - Taxation Act

Section 1029.8.144.1 Disposition versions

2011-04-01

1029.8.144.1. Despite any inconsistent provision of any law, a trust governed by a registered education savings plan (in this section referred to as the “transferor plan”) may, in a taxation year, assign the right to apply for an amount payable to it under this division for a preceding taxation year to a trust governed by another registered education savings plan (in this section referred to as the “transferee plan”), if the assignment is made in the course of an authorized transfer, within the meaning of the second paragraph of section 1029.8.136, of the aggregate of the properties held by the trust governed by the transferor plan to the trust governed by the transferee plan.

The assignment is not binding on the State and, as a result, the following rules apply:

(a)  the Minister retains discretion to pay or not to pay the amount to the trust governed by the transferee plan;

(b)  the assignment does not create any liability of the State to the trust governed by the transferee plan; and

(c)  the rights of the trust governed by the transferee plan are subject to the rights conferred on the State by section 31 of the Tax Administration Act (chapter A-6.002) and any right to compensation of which the State may avail itself.

2010, c. 5, s. 167; 2011, c. 1, s. 94; 2010, c. 31, s. 175.

2011-02-17

1029.8.144.1. Despite any inconsistent provision of any law, a trust governed by a registered education savings plan (in this section referred to as the “transferor plan”) may, in a taxation year, assign the right to apply for an amount payable to it under this division for a preceding taxation year to a trust governed by another registered education savings plan (in this section referred to as the “transferee plan”), if the assignment is made in the course of an authorized transfer, within the meaning of the second paragraph of section 1029.8.136, of the aggregate of the properties held by the trust governed by the transferor plan to the trust governed by the transferee plan.

The assignment is not binding on the State and, as a result, the following rules apply:

(a)  the Minister retains discretion to pay or not to pay the amount to the trust governed by the transferee plan;

(b)  the assignment does not create any liability of the State to the trust governed by the transferee plan; and

(c)  the rights of the trust governed by the transferee plan are subject to the rights conferred on the State by section 31 of the Act respecting the Ministère du Revenu (chapter M-31) and any right to compensation of which the State may avail itself.

2010, c. 5, s. 167; 2011, c. 1, s. 94.

2010-04-20

1029.8.144.1. Despite any inconsistent provision of any law, a trust governed by a registered education savings plan (in this section referred to as the “transferor plan”) may, in a taxation year, assign the right to claim an amount payable to it under this division for a preceding taxation year to a trust governed by another registered education savings plan (in this section referred to as the “transferee plan”), if

(a)  the assignment is made in the course of an authorized transfer, within the meaning of the second paragraph of section 1029.8.136, of the aggregate of the properties held by the trust governed by the transferor plan to the trust governed by the transferee plan; and

(b)  at the time of the authorized transfer referred to in subparagraph a, an education savings incentive agreement is applicable in respect of the transferee plan.

The assignment is not binding on the State and, as a result, the following rules apply:

(a)  the Minister retains discretion to pay or not to pay the amount to the trust governed by the transferee plan;

(b)  the assignment does not create any liability of the State to the trust governed by the transferee plan; and

(c)  the rights of the trust governed by the transferee plan are subject to the rights conferred on the State by section 31 of the Act respecting the Ministère du Revenu (chapter M-31) and any right to compensation of which the State may avail itself.

2010, c. 5, s. 167.