Income Tax Act — I-3.3 146.4
ilure was due to the issuer being unaware of, or there being some uncertainty as to, the existence of circumstances requiring that the plan be terminated, (i) the Minister may specify a later time by which the plan is to be terminated (but no later than is reasonably necessary for the plan to be terminated in an orderly manner), and (ii) paragraph (4)(p) and the plan terms are, for the purposes of paragraphs (11)(a) and (b), to be read as though they required the plan to be terminated by the time so specified. Obligations of issuer (13) The issuer of a registered disability savings plan shall, (a) where an entity becomes a holder of the plan after the plan is entered into, so notify the specified Minister in prescribed form containing prescribed information on or before the day that is 60 days after the later of (i) the day on which the issuer is advised of the entity having become a holder of the plan, and (ii) the day on which the issuer is provided with the new holder’s Social Insurance Number or business number, as the case may be; (b) not amend the plan before having received notification from the Minister that, in the Minister’s opinion, a plan whose terms are identical to the amended plan would, if entered into by entities eligible to enter into a disability savings plan, comply with the conditions in subsection (4); (c) where the issuer becomes aware that the plan is, or is likely to become, non-compliant (determined without reference to paragraph (11)(c) and subsection (12)), notify the Minister and the specified Minister of this fact on or before the day that is 30 days after the day on which the issuer becomes so aware; and (d) [Repealed, 2017, c. 33, s. 58] (e) if the issuer enters into the plan with a qualifying family member who was a qualifying person in relation to the beneficiary at the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), (i) so notify the beneficiary under the plan without delay in writing and include in the notification information setting out the circumstances in which the holder of the plan may be replaced under subsection (1.5) or (1.6), and (ii) collect and use any information provided by the holder of the plan that is relevant to the administration and operation of the plan. Issuer’s liability (14) If, after reasonable inquiry, an issuer of a disability savings plan is of the opinion that an individual’s contractual competence to enter into a disability savings plan is in doubt, no action lies against the issuer for (a) entering into a plan, under which the individual is the beneficiary, with 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 (b) allowing a qualifying family member to acquire rights as a successor of the holder of the plan under paragraph (4)(b.1). [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2007, c. 35, s. 115; 2008, c. 28, s. 25; 2010, c. 12, s. 17, c. 25, s. 36; 2011, c. 15, s. 2; 2012, c. 19, s. 6, c. 31, s. 35; 2013, c. 33, s. 16; 2015, c. 36, s. 16; 2017, c. 33, s. 58; 2018, c. 12, s. 24 2021, c. 23, s. 33 2023, c. 26, s. 42 2024, c. 15, s. 45 2024, c. 17, s. 51(F)