Acts and Regulations

2020-43 - General

Full text
Current to 1 January 2024
NEW BRUNSWICK
REGULATION 2020-43
under the
Enduring Powers of Attorney Act
(O.C. 2020-145)
Filed June 30, 2020
Under section 28 of the Enduring Powers of Attorney Act, the Lieutenant-Governor in Council makes the following Regulation:
Citation
1This Regulation may be cited as the General RegulationEnduring Powers of Attorney Act.
Definition of “Act”
2In this Regulation, “Act” means the Enduring Powers of Attorney Act.
Financial institution
3The following classes of persons are prescribed for the purposes of the definition “financial institution” in section 1 of the Act:  
(a) an agent as defined in the Insurance Act;
(b) a broker as defined in the Insurance Act;
(c) an insurer as defined in the Insurance Act; and
(d) a registered adviser as defined in the Securities Act.
Records of attorneys
4(1)An attorney for property shall keep the following records: 
(a) a list of the grantor’s property at the time the attorney began acting, including the value or an estimate of the value of each item and the name of the co-owner, if any;
(b) a list of the grantor’s liabilities at the time the attorney began acting, including the amount or an estimate of the amount of each liability;
(c) a list of the grantor’s sources of income, including the amount of the payments received from each source and the frequency of payments;
(d) a list of any gifts given by the attorney on behalf of the grantor, including the date the gift was given, the reason for the gift, the amount or value of the gift and the name of the recipient;
(e) a list of any compensation paid by the attorney to himself or herself or to another attorney or a monitor, including the date compensation was paid, the amount of compensation, the calculation of the amount of compensation and the name of the recipient;
(f) a list of any money paid by the attorney to himself or herself or to another attorney as reimbursement for expenses, including the date the money was paid, a description of the expenses, the amount of money paid and the name of the recipient; and
(g) all bank statements, invoices, bills, correspondence and other records necessary to provide a complete account of the actions taken by the attorney in relation to the grantor’s property and financial affairs, including acquiring or disposing of property, discharging or incurring liabilities and receiving, paying, giving or transferring money.
4(2)If a grantor gives an attorney for property authority only with respect to specified matters relating to the property and financial affairs of the grantor, the attorney shall keep the records referred to in paragraphs (1)(a) to (c) only to the extent that doing so is consistent with the attorney’s authority.
4(3)An attorney for personal care shall keep a list of all decisions made by the attorney in relation to the grantor’s health care, accommodation and support services, including the date of the decision and the reason for the decision.
Commencement
5This Regulation comes into force on July 1, 2020.
N.B. This Regulation is consolidated to July 1, 2020.