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Public Guardian and Trustee Act

ONTARIO REGULATION 191/95

GENERAL

Consolidation Period:  From January 1, 2013 to the e-Laws currency date.

Last amendments: 118/12.

Legislative History: 118/12.

This is the English version of a bilingual regulation.

1. (1) The Public Guardian and Trustee shall maintain,

(a) an Escheats account;

(b) a Public Guardian and Trustee Administration account; and

(c) an assurance fund.  O. Reg. 191/95, s. 1 (1).

(2) The Public Guardian and Trustee may maintain,

(a) common trust accounts;

(b) an Unadministered Estates Account; and

(c) such other accounts as the Public Guardian and Trustee may require.  O. Reg. 191/95, s. 1 (2).

(3) The Public Guardian and Trustee shall transfer to the Escheats account money received under the Escheats Act.  O. Reg. 191/95, s. 1 (3).

(4) The Public Guardian and Trustee shall pay all fees, charges, remuneration, refunds of expenses and all income of the office of every description, including surplus income from investments, into the Public Guardian and Trustee Administration account.  O. Reg. 191/95, s. 1 (4).

(5) All interest payable by the Public Guardian and Trustee shall be paid out of the Public Guardian and Trustee Administration account.  O. Reg. 191/95, s. 1 (5).

(6) The assurance fund shall be established from money that the Public Guardian and Trustee transfers to it from the Public Guardian and Trustee Administration account, in those amounts determined by him or her.  O. Reg. 191/95, s. 1 (6).

(7) The Public Guardian and Trustee shall convert the assets of any trust or the assets of the estate of a person for whom he or she has acted as guardian to cash and transfer the money to the Unadministered Estates account if the persons entitled to apply for and receive the assets from the Public Guardian and Trustee have not assumed lawful administration of the estate within two years after the date of the person’s death or the termination of the trust.  O. Reg. 191/95, s. 1 (7).

(8) In subsection (2),

“common trust accounts” means accounts maintained by the Public Guardian and Trustee in which money belonging to various estates and trusts in his or her care is combined for the purpose of facilitating investment.  O. Reg. 191/95, s. 1 (8).

2. The Public Guardian and Trustee may make a payment,

(a) by cheque signed by the Attorney General, the Public Guardian and Trustee or an employee in his or her office designated by written direction delivered to the Public Guardian and Trustee’s bankers, and countersigned by the Chief Financial Officer, the Assistant to the Chief Financial Officer or another employee in the Public Guardian and Trustee’s office designated in the same manner; or

(b) in any manner the Public Guardian and Trustee considers appropriate, including the transfer of bonds or other securities, where the payment is made into the Consolidated Revenue Fund at the direction of the Lieutenant Governor in Council under subsection 9 (5) of the Act.  O. Reg. 191/95, s. 2.

3. (1) In this section,

“Accountant” means the Accountant of the Superior Court of Justice; (“comptable”)

“court” means the Superior Court of Justice, including the Small Claims Court and Family Court branches of the Superior Court of Justice; (“tribunal”)

“order” means an order made under the Rules of Civil Procedure, the Small Claims Court Rules or the Family Law Rules. (“ordonnance”)  O. Reg. 118/12, s. 1.

(2) Money paid into the Superior Court of Justice shall be paid to the Accountant.  O. Reg. 118/12, s. 1.

(3) Subsection (2) does not apply to the following:

1. Money paid into court pursuant to the enforcement of an order for the payment or recovery of money, including money paid pursuant to enforcement by garnishment.

2. Money paid into the Small Claims Court pursuant to,

i. an order or proposal for payment made under rule 9.03 of the Small Claims Court Rules, or

ii. an offer to settle a claim in return for the payment of money, where the offer includes a term that the defendant pay the money into court.

3. Money for the support of a child or spouse that is paid into court by the payor on behalf of a recipient.  O. Reg. 118/12, s. 1.

(4) The money paid into court under subsection (2) and any securities in which it is invested are vested in the Accountant.  O. Reg. 118/12, s. 1.

(5) Money that vests in the Accountant under subsection (4) shall be managed and invested by the Accountant in accordance with the Act.  O. Reg. 118/12, s. 1.

(6) Mortgages, securities, other instruments and other personal property taken under an order made by a court or as security in respect of a proceeding in a court shall be taken in the name of and deposited with the Accountant, unless that court orders otherwise.  O. Reg. 118/12, s. 1.

(7) The Accountant is the custodian of mortgages, securities, other instruments and other personal property deposited with him or her, but has no other duties or obligations with respect to them.  O. Reg. 118/12, s. 1.

(8) The Accountant may engage the services of a person or body to undertake or assist in undertaking any or all of the Accountant’s role as custodian under subrule (7).  O. Reg. 118/12, s. 1.

4. (1) An advisory committee is hereby constituted for the purposes of section 13.1 of the Act and to advise the Public Guardian and Trustee generally on investments and other property management issues.  O. Reg. 191/95, s. 4 (1).

(2) The advisory committee shall be appointed by the Lieutenant Governor in Council.  O. Reg. 191/95, s. 4 (2).

5. Omitted (revokes other Regulations).  O. Reg. 191/95, s. 5.

6. Omitted (provides for coming into force of provisions of this Regulation).  O. Reg. 191/95, s. 6.

 

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