ONTARIO REGULATION 487/00

made under the

Ontario Home Ownership Savings Plan Act

Made: August 23, 2000
Filed: August 25, 2000

Amending Reg. 883 of R.R.O. 1990

(General)

1. Section 6 of Regulation 883 of the Revised Regulations of Ontario, 1990 is amended by striking out “Form 3” in the portion before clause (a) and substituting “a form approved by the Minister”.

2. (1) Subsections 10 (1) and (2) of the Regulation are revoked and the following substituted:

(1) An application to enter into an Ontario home ownership savings plan shall be filed with the Minister, in a form approved by the Minister, by the depositary on or before the 10th day of the month following the month during which the individual and the depositary entered into the plan.

(2) Subsections 10 (4) to (9) of the Regulation are revoked and the following substituted:

(4) A notice of transfer of a plan under section 7 of the Act shall be filed, in a form approved by the Minister, with the Minister by the depositary of the plan of the surviving spouse on or before the 10th day of the month following the month in which the transfer was completed.

(5) A direction by the planholder of an Ontario home ownership savings plan to the depositary of the plan under section 8 of the Act to transfer the assets of the plan to a replacement depositary shall be filed with the Minister, in a form approved by the Minister, by the replacement depositary on or before the 10th day of the month following the month in which the replacement depositary received the assets of the plan.

3. Forms 1, 3, 4 and 5 of the Regulation are revoked.