Minors' Property Regulation

(Consolidated up to 187/2024) alberta regulation 240/2004 Minors’ Property Act MINORS’ PROPERTY REGULATION Disposition of minors’ property and settlement of minors’ claim 1 The amount prescribed for the purpose of sections 2(3)(c) and 4(4)(c) of the Act is $25 000. AR 240/2004 s1;199/2014;72/2020 Small obligations 2 (1) The amount prescribed for the purpose of section 8(1)(a) of the Act is $25 000. (2) The following are the prescribed classes of obligations for the purpose of section 8(1)(d) of the Act: (a) victim benefits payable to a minor under the Victims of Crime and Public Safety Act ; (b) a pension payable under section 70(9) of the Workers’ Compensation Act . (3) The acknowledgement referred to in section 8(2)(b) of the Act must be in Form 1 or Form 2, as the circumstances require. AR 240/2004 s2;199/2014;72/2020;98/2020 Expiry 3 For the purpose of ensuring that this Regulation is reviewed for ongoing relevancy and necessity, with the option that it may be repassed in its present or an amended form following a review, this Regulation expires on November 30, 2026. AR 240/2004 s3;199/2014;187/2024 Coming into force 4 This Regulation comes into force on the coming into force of the Minors’ Property Act (SA 2004 cM‑18.1). Schedule Form 1 Guardian’s Acknowledgment of Responsibility ( Minors’ Property Act (section 8)) This acknowledgment of responsibility is given by Name Address 1 This acknowledgment of responsibility relates to the minor, (name of minor) , who was born on (day, month, year) . 2 I am the minor’s guardian because I am □ the minor’s mother or father □ appointed guardian by the deed or will of the minor’s parent, (name of parent) , who is now deceased □ appointed guardian by a court order dated (date of guardianship order) . 3 I have the power and responsibility to make day‑to‑day decisions affecting the minor. 4 I request the (name of person or organization) to deliver to me, to hold as trustee for the minor, money or other property of a total value of $ that (name of person or organization) is holding for the minor. 5 I will use or expend the money or other property only for the minor’s benefit. 6 When the minor reaches the age of 18 years I will account to the minor and transfer the balance of the money or other property remaining at that time to the minor. Date Guardian’s Signature Witness Form 2 Minor’s Acknowledgment ( Minors’ Property Act (section 8(2)(a)(i))) This acknowledgment of responsibility is given by Name Address 1 I was born on (date of birth) and am (age in years) years old. 2 I have a legal duty to support (name(s) , who is (are) my (relationship to minor) . 3 I acknowledge receipt of (describe property or state amount of money) from (name of person or organization delivering the property or money to minor) . Date Minor’s Signature Witness AR 240/2004 Sched.;8/2005