jswizzle3737/ontario_laws_and_regs huggingface dataset:
4. (1) A depositary of an Ontario home ownership savings plan shall hold all assets of the plan only in qualified investments and, at the option of the planholder of the plan, shall hold part or all of such assets in qualified investments that are repayable on demand.  R.S.O. 1990, c. O.20, s. 4 (1). Qualified investments defined (2) For the purposes of this Act, a qualified investment is, (a) money that is legal tender in Canada; (b) a deposit that is insured by the Canada Deposit Insurance Corporation or the Ontario Share and Deposit Insurance Corporation; or (c) any other type of investment prescribed by the regulations.  R.S.O. 1990, c. O.20, s. 4 (2); 2002, c. 8, Sched. I, s. 20 (2).
6. Subject to section 7, in the event of the death of a planholder of an Ontario home ownership savings plan, (a) the planholder shall be deemed to have received all of the assets of the plan immediately before his or her death; and (b) the depositary of the Ontario home ownership savings plan shall pay over the assets of the plan, less the amount required to be withheld and remitted to the Minister under section 9, to the legal personal representative of the deceased planholder or, where the planholder had previously designated in writing a person entitled to receipt of the assets of the plan on the death of the planholder, to such person.  R.S.O. 1990, c. O.20, s. 6.
8. An Ontario home ownership savings plan may at any time be revised or amended to provide for the transfer, on behalf of and at the direction of the planholder, of the assets of the plan by the depositary to another depositary, which may be referred to as a replacement depositary, to be held by the replacement depositary as assets of an Ontario home ownership savings plan and upon the transfer, (a) the amount transferred shall not be deemed to have been received by the planholder; (b) the replacement depositary shall hold the amount transferred as assets of the Ontario home ownership savings plan of the planholder under an arrangement the terms and conditions of which comply with section 2 and shall assume and fulfil the responsibilities under this Act of the depositary of the plan; (c) the transfer shall not be considered to be a qualifying contribution to an Ontario home ownership savings plan; and (d) the planholder shall not be considered to have entered into more than one Ontario home ownership savings plan by reason only of the transfer.  R.S.O. 1990, c. O.20, s. 8.
10. (1) Where the Minister determines that, (a) a home ownership savings plan purporting to be an Ontario home ownership savings plan has failed to comply with the requirements of section 2; (b) a contribution made to an Ontario home ownership savings plan was not a qualifying contribution by reason of subsection 3 (3); (c) the planholder of an Ontario home ownership savings plan owns or owned at any time an interest in an eligible home; or (d) the assets of the plan are not held in the form of qualified investments, the Minister may serve on the planholder and the depositary of the plan, by ordinary mail or by personal service, a notice of proposal to close the plan, together with written reasons therefor. Consent to release after proposal (2) Where the Minister has served a proposal under subsection (1), the depositary shall not release any assets of the plan to any person without obtaining the prior written consent of the Minister to the release.  R.S.O. 1990, c. O.20, s. 10 (1, 2). Objection (3) Where the planholder objects to a proposal served under subsection (1), the planholder may, within sixty days from the date of mailing of the proposal, serve on the Minister by registered mail addressed to the Minister a notice of objection in duplicate in the form approved by the Minister setting out the reasons for the objection and all relevant facts.  R.S.O. 1990, c. O.20, s. 10 (3); 1997, c. 19, s. 18 (4). Closing of plan (4) Where no notice of objection is served under subsection (3), the Minister may carry out the proposal to close the plan by serving on the planholder and the depositary, by ordinary mail or personal service, a notice of closing of the plan. Recovery of tax credits (5) Where the Minister serves a notice of closing under subsection (4), (a) the planholder shall be deemed, for the purposes of section 9, to have received all the assets of the plan on the day of mailing of the notice of closing; (b) the depositary shall deduct, withhold and remit to the Minister under subsection 9 (3), (i) where the Minister specifies in the notice of closing an amount to be deducted, withheld and remitted, such amount in lieu of the amount otherwise required under subsection 9 (3), and (ii) where the Minister does not specify in the notice of closing an amount to be deducted, withheld and remitted, the amount required to be deducted, withheld and remitted under subsection 9 (3); and (c) where the Minister specifies in the notice of closing an amount to be deducted, withheld and remitted by the depositary of the plan, the notice of closing shall be deemed, for the purposes of sections 9 and 12, to be a notice of determination of tax credit recovery and interest sent to the planholder under subsection 9 (4).  R.S.O. 1990, c. O.20, s. 10 (4, 5).
11. (1) A planholder who entered into an Ontario home ownership savings plan before January 1, 1994 shall be deemed, for the purposes of section 9, to have received all of the assets of the plan on January 1, 2000 if the planholder has not, on or before December 31, 1999, (a) obtained a release of the assets of the plan under section 5; and (b) completed the purchase of property that will be a qualifying eligible home.  1994, c. 17, s. 126. Same (2) A planholder who entered into an Ontario home ownership savings plan after December 31, 1993 shall be deemed, for the purposes of section 9, to have received all of the assets of the plan on January 1 of the seventh calendar year after the year in which the planholder entered into the plan if the planholder has not, on or before December 31 of the sixth calendar year after the year in which the planholder entered into the plan, (a) obtained a release of the assets of the plan under section 5; and (b) completed the purchase of property that will be a qualifying eligible home.  1994, c. 17, s. 126. Deemed receipt of assets of the plan (3) A planholder who entered into an Ontario home ownership savings plan after December 31, 1998 and has otherwise complied with this Act and the regulations shall be deemed to have received all of the assets of the plan on January 1, 2006 if the planholder has not, on or before December 31, 2005, (a) obtained a release of the assets of the plan under section 5; and (b) completed the purchase of property that will be a qualifying eligible home.  2004, c. 31, Sched. 29, s. 4.
13. (1) Upon default of payment by any person of any amount owing by the person to the Minister under this Act, (a) the Minister may bring an action for the recovery thereof in any court in which a debt or money demand of a similar nature may be collected, and every such action shall be brought and executed in and by the name of the Minister or the Minister’s name of office and may be continued by the Minister’s successor in office as if no change had occurred, and shall be tried without a jury; and (b) the Minister may issue a warrant directed to the sheriff for any county or district in which any property of the person is located or situate, for the amount owing, including interest if applicable, by the person, together with interest thereon from the date of the issue of the warrant and the costs, expenses and poundage of the sheriff, and the warrant has the same force and effect as a writ of seizure and sale issued out of the Superior Court of Justice.  R.S.O. 1990, c. O.20, s. 13 (1); 1994, c. 17, s. 123 (4); 2006, c. 19, Sched. C, s. 1 (1). Idem (2) For the purpose of any proceeding taken under this Act, the facts necessary to establish compliance on the part of the Minister with this Act as well as the failure of any person to comply with this Act shall, unless evidence to the contrary satisfactory to the court is adduced, be sufficiently proved in any court of law by affidavit of the Minister or of any officer of the Ministry.  R.S.O. 1990, c. O.20, s. 13 (2); 1994, c. 17, s. 123 (4). Garnishment (3) Section 36 of the Retail Sales Tax Act, which relates to garnishment, applies with necessary modifications with respect to amounts payable to the Minister under this Act.  R.S.O. 1990, c. O.20, s. 13 (3); 1994, c. 17, s. 123 (4). Acceptance of security (4) Where the Minister considers it advisable, the Minister may accept security for the payment of any amount payable under this Act in any form that the Minister considers satisfactory.  R.S.O. 1990, c. O.20, s. 13 (4). Idem (5) The use of any of the remedies provided by this Act does not bar or affect any of the other remedies herein provided, and the remedies provided by this Act for the recovery or enforcement of the payment of an amount payable under this Act are in addition to any other remedies existing at law.  R.S.O. 1990, c. O.20, s. 13 (5).
14. (1) Every depositary under this Act shall keep the prescribed records at its permanent establishment in Ontario, as defined in the Corporations Tax Act, or at its place of business in Ontario, or at such other place of business as is designated by the Minister in respect of any particular depositary, in the form and containing such information as will enable the Minister to determine that this Act and the regulations have been complied with.  R.S.O. 1990, c. O.20, s. 14 (1); 2004, c. 16, Sched. D, Table. Failure to keep records (2) Where the depositary has failed to keep adequate records for the purposes of this Act, the Minister may require the depositary to keep such records as may be specified by the Minister.  R.S.O. 1990, c. O.20, s. 14 (2). Retention of records (3) Every depositary required by this section to keep records shall, until permission for their disposal is given by the Minister, retain each such record and every account and voucher necessary to verify the information in each such record.  R.S.O. 1990, c. O.20, s. 14 (3).
16. Every person employed directly or indirectly in the administration or enforcement of this Act or the Income Tax Act (Ontario), or in the development and evaluation of tax policy for the Government of Ontario, shall preserve secrecy with respect to all matters related to this Act that come to his or her knowledge in the course of such employment and shall not communicate any information or material related to any such matter to any other person not legally entitled thereto except, (a) as may be required in connection with the administration or enforcement of this Act, the Income Tax Act (Ontario) or any other Act administered by the Minister or the Income Tax Act (Canada) or the regulations under any of them; (b) as may be required in connection with the development and evaluation of tax policy by the Government of Ontario or the Government of Canada; (c) to his or her counsel; or (d) with the consent of the person to whom the information or material relates.  R.S.O. 1990, c. O.20, s. 16.
17. (1) Any person who contravenes any provision of this Act or the regulations is guilty of an offence and, upon conviction, is liable, where no other penalty is provided for the offence, to a fine of not less than $50 and not more than $5,000. False statements (2) Every person who, (a) makes, participates in, assents to or acquiesces in the making of a statement in any document required by or for the purposes of this Act or the regulations that, at the time and in the light of the circumstances under which it was made, is false or misleading in respect of any material fact or that omits to disclose any material fact the omission of which makes the statement false or misleading; (b) makes, assents to, participates in or acquiesces in the making of false or misleading entries, or omits to, or assents to or participates or acquiesces in the omission of entering a material particular, in records required to be maintained under this Act or the regulations; (c) knowingly converts to his or her own use a payment of a tax credit under the Income Tax Act
(Ontario) in respect of a contribution to an Ontario home ownership savings plan to which he or she was not entitled; or (d) conspires with any person to commit an offence described in clause (a), (b) or (c), is guilty of an offence and on conviction is liable to a fine of not more than $25,000. Exception (3) No person is guilty of an offence under clause (2) (a) or (b) if he or she did not know, and in the exercise of due diligence could not have known, that the statement or entry was false or misleading or the omission makes a statement or record false or misleading. Idem (4) Subsections 48 (1), (2), (4), (5), (6), (7), (9) and (11) of the Income Tax Act (Ontario) apply with necessary modifications for the purposes of this Act.  R.S.O. 1990, c. O.20, s. 17.
18. Proceedings to enforce any provision of this Act or the regulations with respect to a home ownership savings plan may be commenced and any information in respect of any offence under this Act or the regulations with respect to a home ownership savings plan may be laid not later than six years after, (a) where the assets of the plan have been released under section 5, the date of the release; and (b) where the planholder of the plan receives any assets of the plan or is deemed by this Act to have received any assets of the plan, the date when the assets of the plan are received or deemed to have been received.  R.S.O. 1990, c. O.20, s. 18.
19. (1) The Lieutenant Governor in Council may make regulations, (a) defining any word or expression used in this Act that has not already been expressly defined in this Act; (b) prescribing any matter required by this Act to be prescribed by the regulations; (c) prescribing rates of interest for the purposes of this Act or a formula for computing the rates and the method of calculating the interest; (d) increasing or decreasing the percentage referred to in subsection 9 (3) in all circumstances or in prescribed circumstances, and prescribing circumstances where no amount is required to be deducted, withheld and remitted under subsection 9 (3); (e)  Repealed:  1997, c. 19, s. 18 (7). (f) prescribing information to be obtained from planholders by depositaries in connection with or for the purposes of this Act; (g) requiring any person to make information returns respecting any class of information required by the Minister in the administration of this Act or in determining compliance with this Act; (h) providing for the review and approval of specimen Ontario home ownership savings plans.  R.S.O. 1990, c. O.20, s. 19 (1); 1997, c. 19, s. 18 (7). May be retroactive (2) A regulation is, if it so provides, effective with reference to a period before it was filed.  R.S.O. 1990, c. O.20, s. 19 (2).
20. The Minister may approve the use of forms for any purpose of this Act and the forms may provide for such information to be furnished as the Minister may require.  1997, c. 19, s. 18 (8). ______________  Français