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ARTICLE · 14 AUGUST 2013

Unclaimed Intangible Property In Canada – Recent Developments

Dentons Canada LLP
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Ah, unclaimed intangible property. The route to uniform legislation is far from a straight line and progress is slow.

CanadaConsumer Protection
Timothy Banks
Timothy Banks
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Ah, unclaimed intangible property. The route to uniform legislation is far from a straight line and progress is slow.

In May, Prince Edward Island repealed provisions of the Public Trustee Act, which governed unclaimed intangible property in the province. The provisions of Part IV of the Public Trustee Act do not appear to have been followed (or enforced) in any event.

Meanwhile, in Ontario, the Ministry of the Attorney General continues to press forward with a consultation regarding the enactment of new unclaimed property legislation (the previous unproclaimed legislation having been automatically repealed on January 1, 2013).

The results of the first stage of Ontario's consultation have been posted. Among the points raised thus far in the consultation are:

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