Update On Ontario’s Proposed Unclaimed Intangible Property Program

Last year, the Ministry of Attorney General sought comments regarding a proposed Unclaimed Intangible Property Program ("Program").  It has now reviewed the comments and is providing an opportunity for people to expand or make further submissions.  It will be holding meetings in Toronto on certain dates in June, according to sectors.  June 18 has been allocated for the not-for-profit sector amongst other sectors.  If you wish to speak at this meeting, you should contact the Ministry at least two days before the meeting.

As a reminder, examples of intangible property include unpaid wages, amounts due under an insurance policy, interests recognized by instruments such as shares certificates and bonds, and amounts distributable from a trust or custodial fund established under a plan to provide education, health, pension, vacation, retirement, death, supplemental unemployment insurance or similar benefits.  For more information regarding the Program, please see my blog