BILL NO. 196

(as introduced)

2nd Session, 60th General Assembly
Nova Scotia
57 Elizabeth II, 2008



Government Bill



Beneficiaries Designation Act
(amended)



The Honourable Cecil P. Clarke
Minister of Justice



First Reading: October 31, 2008

(Explanatory Note)

Second Reading: November 13, 2008

Third Reading: November 18, 2008 (LINK TO BILL AS PASSED)

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Explanatory Note

This Bill adds the new tax-free savings plan to the savings plans that can pay a benefit directly to a person designated as a beneficiary by the plan holder, instead of to the plan holder's estate, on the death of the plan holder.

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An Act to Amend Chapter 36
of the Revised Statutes, 1989,
the Beneficiaries Designation Act

Be it enacted by the Governor and Assembly as follows:

1 Clause 9(1)(b) of Chapter 36 of the Revised Statutes, 1989, the Beneficiaries Designation Act, is amended by adding ", a tax-free savings plan" immediately after "fund" in the second line.

2 This Act comes into force on such day as the Governor in Council orders and declares by proclamation.

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