Income Tax Act — I-3.3 146.4
n. (e) and (f) [Repealed, 2012, c. 31, s. 35] Waiting period (1.3) If at any time, a plan has ceased to be a specified disability savings plan because of subsection (1.2), then the holder of the plan may not make an election under subsection (1.1) until 24 months after that time. Waiver (1.4) The Minister may waive the application of subsections (1.2) or (1.3) if it is just and equitable to do so. Beneficiary replacing holder (1.5) Any holder of a disability savings plan who was a qualifying person in relation to the beneficiary under the plan at the time the plan (or another registered disability savings plan of the beneficiary) was entered into solely because of paragraph (c) of the definition qualifying person in subsection (1), or who was a successor holder because of paragraph (4)(b.1), ceases to be a holder of the plan and the beneficiary becomes the holder of the plan if (a) the beneficiary is determined to be contractually competent by a competent tribunal or other authority under the laws of a province or, in the issuer’s opinion after reasonable inquiry, the beneficiary’s contractual competence to enter into a disability savings plan is no longer in doubt; and (b) the beneficiary notifies the issuer that the beneficiary chooses to become the holder of the plan. Entity replacing holder (1.6) If an entity described in subparagraph (a)(ii) or (iii) of the definition qualifying person in subsection (1) is appointed in respect of a beneficiary of a disability savings plan and a holder of the plan was a qualifying person in relation to the beneficiary at the time the plan (or another registered disability savings plan of the beneficiary) was entered into solely because of paragraph (c) of that definition, or was a successor holder because of paragraph (4)(b.1), (a) the entity shall notify the issuer without delay of the entity’s appointment; (b) the holder of the plan ceases to be a holder of the plan; and (c) the entity becomes the holder of the plan. Rules applicable in case of dispute (1.7) If a dispute arises as a result of an issuer’s acceptance of a qualifying family member who was a qualifying person in relation to the beneficiary at the time the plan (or another registered disability savings plan of the beneficiary) was entered into solely because of paragraph (c) of the definition qualifying person in subsection (1), or who was a successor holder because of paragraph (4)(b.1), as a holder of a disability savings plan, from the time the dispute arises until the time that the dispute is resolved or an entity becomes the holder of the plan under subsection (1.5) or (1.6), the holder of the plan shall use their best efforts to avoid any reduction in the fair market value of the property held by the plan trust, having regard to the reasonable needs of the beneficiary under the plan. Registered status (2) The conditions that must be satisfied for a disability savings plan of a beneficiary to be a registered disability savings plan are as follows: (a) before the plan is entered into, the issuer of the plan has received written notification from the Minister that, in the Minister’s opinion, a plan whose terms are identical to the plan would, if entered into by entities eligible to enter into a disability savings plan, comply with the conditions in subsection (4); (b) at or before the time the plan is entered into, the issuer of the plan has been provided with the Social Insurance Number of the beneficiary and the Social Insurance Number or business number, as the case may be, of each entity with which the issuer has entered into the plan; and (c) at the time the plan is entered into, the beneficiary is resident in Canada, except that this condition does not apply if, at that time, the beneficiary is the beneficiary under another registered disability savings plan. Registered status nullified (3) A disability savings plan is deemed never to have been a registered disability savings plan unless (a) the issuer of the plan pr