ontario regulation 111/23

made under the

Credit Unions and Caisses Populaires Act, 2020

Made: June 1, 2023
Filed: June 2, 2023
Published on e-Laws: June 2, 2023
Published in The Ontario Gazette: June 17, 2023

Amending O. Reg. 105/22

(GENERAL)

1. Clause 57 (a) of Ontario Regulation 105/22 is amended by striking out “and tax-free savings accounts” and substituting “tax-free savings accounts and first home savings accounts”.

2. Subsection 108 (2) of the Regulation is amended by adding the following paragraphs:

17. A deposit with the credit union, not in trust for a named beneficiary, to any of a person’s first home savings accounts within the meaning of the Income Tax Act (Canada).

18. A deposit with the credit union, in trust for a named beneficiary, to any of a person’s first home savings accounts within the meaning of the Income Tax Act (Canada).

3. Clause 109 (b) of the Regulation is amended by striking out “16” and substituting “18”.

Commencement

4. This Regulation comes into force on the later of July 1, 2023 and the day this Regulation is filed.