BILL NO. 196
2nd Session, 60th General Assembly
57 Elizabeth II, 2008
Beneficiaries Designation Act
The Honourable Cecil P. Clarke
Minister of Justice
First Reading: October 31, 2008
Second Reading: November 13, 2008
Third Reading: November 18, 2008 (LINK TO BILL AS PASSED)
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.
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.
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