Canada Education Savings Act (S.C. 2004, c. 26)

AMENDMENTS NOT IN FORCE

• — 2024, c. 17, ss. 163(1), (3), (4)

  • • 163 (1) Subsection 6(1) of the Act is replaced by the following:

      • Canada Learning Bonds — application

        • 6 (1) Subject to this Act and the regulations, on application to the Minister, in the form and manner approved by the Minister, the Minister may, in respect of a beneficiary under a registered education savings plan who was born after 2003 and is less than 31 years of age at the time of the application, pay to a trustee of a trust governed by the plan a Canada Learning Bond for the benefit of the trust. The Canada Learning Bond is to be paid on any terms and conditions that the Minister may specify by agreement between the Minister and the trustee.

    • (2) [In force]

    • (3) Section 6 of the Act is amended by adding the following after subsection (1.4):

      • Canada Learning Bonds — automatic enrolment

        (1.5) If the Minister opens a registered education savings plan under subsection (1.2), subject to this Act and the regulations, the Minister may, in respect of the beneficiary under the plan, pay to a trustee of a trust governed by the plan a Canada Learning Bond for the benefit of the trust. The Canada Learning Bond is to be paid on any terms and conditions that the Minister may specify by agreement between the Minister and the trustee.

    • (4) Subsection 6(4) of the Act is replaced by the following:

      • Designation

        (4) The amount of a Canada Learning Bond payable under subsection (1) in respect of a benefit year is to be paid to the trustee of a trust designated, in the form and manner approved by the Minister, by the primary caregiver of the beneficiary, the primary caregiver’s cohabiting spouse or common-law partner or, if the beneficiary is 18 years of age or more, the beneficiary.

• — 2024, c. 17, s. 164

  • 164 The portion of section 7 of the Act before paragraph (a) is replaced by the following:

    • Conditions

      7 Neither a CES grant nor a Canada Learning Bond payable under subsection 6(1) may be paid in respect of a beneficiary under a registered education savings plan unless

• — 2024, c. 17, s. 165

  • 165 The Act is amended by adding the following after section 7:

    • Conditions — automatic enrolment

      7.01 A Canada Learning Bond payable under subsection 6(1.5) must not be paid in respect of a beneficiary under a registered education savings plan unless the beneficiary is resident in Canada immediately before the payment is made.

• — 2024, c. 17, s. 169(2)

  • • 169 (2) Section 13 of the Act is amended by adding the following after paragraph (c.3):

      • (c.31) respecting payments under subsection 6(1.5);