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ARTICLE · 11 OCTOBER 2012

BLG Buzz... October 2012

Borden Ladner Gervais LLP
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In 1989, the "Unclaimed Intangible Property Act" was passed in Ontario, but it was never proclaimed in force.

CanadaMedia, Telecoms, IT, Entertainment
Eva Chan
Eva Chan
Alexandra Nicol
Alexandra Nicol
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WILL ONTARIO'S UNCLAIMED INTANGIBLE PROPERTY PROGRAM EXCLUDE GIFT CARDS?

In 1989, the Unclaimed Intangible Property Act was passed in Ontario, but it was never proclaimed in force. In fact, it has been repealed.

Now the Government of Ontario is seeking comments on a proposed Unclaimed Intangible Property Program. In developing the Program, the Government first would introduce a bill in the Ontario legislature. The proposed legislation would be based principally on the model set out in the Uniform Unclaimed Intangible Property Act ("Uniform Act"), which is available here. The Uniform Act defines "property" broadly to mean an interest in intangible property, including a gift certificate.

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