Second

Session, 46th General Assembly

Elizabeth II, 2009

BILL 19

AN ACT TO AMEND THE

INCOME TAX SAVINGS PLANS ACT

Received and Read the First Time ...................................................................................................

Second Reading .................................................................................................................................

Committee ............................................................................................................................................

Third Reading .....................................................................................................................................

Royal Assent ......................................................................................................................................

HONOURABLE

KEVIN O'BRIEN

Minister

of Government Services

Ordered

to be printed by the Honourable House of Assembly

EXPLANATORY NOTE

This Bill would amend the Income Tax Savings Plans Act to recognize

the designation of beneficiaries made by holders of tax-free savings accounts.

A BILL

AN ACT TO AMEND THE INCOME TAX SAVINGS

PLANS ACT

Analysis

S.2 Amdt.

Definitions

Be it enacted by the Lieutenant-Governor and

House of Assembly in Legislative Session convened, as follows:

RSNL1990 cI-2

1. Paragraph 2(

d) of the Income Tax Savings Plans Act is repealed and the following

substituted:

(d) " savings

plan" means

(

i) a retirement savings

plan as defined by the Income Tax Act ( Canada ),

(ii) a retirement income

fund as defined by the Income Tax Act ( Canada ),

(iii) a tax-free savings

account as defined by the Income Tax Act ( Canada );

and

Earl G. Tucker, Queen's Printer