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2020, c.5
- Unclaimed Property Act
Detailled Table of Contents
Current to 1 January 2024
Unclaimed Property Act
1
PRELIMINARY MATTERS
1
Definitions
2
Application
3
Exemptions
4
When property is unclaimed
5
Based in a jurisdiction
6
Carry on a business in a jurisdiction
2
RIGHTS AND DUTIES OF HOLDERS
7
Notice to apparent owner
8
Fees
9
Obligation to deliver
10
Late delivery
11
Voluntary delivery
12
Delivery on the holder’s initiative
13
Delivery relieves holder from liability
14
Interest and late fee
3
RIGHTS AND DUTIES OF DIRECTOR
15
Director claims unclaimed property
16
Director’s determination
17
Objection
18
Director has rights of owner
19
When unclaimed property vests in Commission
20
Account re unclaimed property
21
Record re unclaimed property
22
Unclaimed property list
23
Director’s rights and obligations re: foreign administrators
24
Agreements with foreign administrators
4
CLAIMS
25
Claims
26
Creditor and other claims
27
Rights unaffected by limitation periods
5
RECORD-KEEPING AND COMPLIANCE REVIEWS
28
Definition of “holder”
29
Record-keeping
30
Compliance officers – appointment
31
Compliance reviews
32
Removal of books, records and documents
33
Obstruction of compliance officer
34
Misleading statements
35
Fees and expenses payable for compliance review
6
INVESTIGATIONS
36
Provision of information to Director
37
Investigation order
38
Powers of investigator
39
Power to compel evidence
40
Investigators authorized as peace officers
41
Seized property
42
Report of investigation
43
Prohibition against disclosure
44
Non-compellability
7
ENFORCEMENT
45
Offences generally
46
Orders in the public interest
47
Administrative penalty
48
Directors and officers – deemed violation or non-compliance
49
Resolution of administrative proceedings
50
Limitation period
8
GENERAL
51
Appeal
52
Agreements to locate unclaimed property
53
No contracting out
54
Administration
55
Regulations and rules
56
Notice and publication of rules
57
Changes by Secretary of the Commission
58
Consolidated rules
9
CONSEQUENTIAL AMENDMENTS AND COMMENCEMENT
59
Credit Unions Act
60
Financial and Consumer Services Commission Act
61
Loans and Trust Companies Act
62
Commencement
SCHEDULE A