Public Guardian and Trustee

Certificate of the Public Guardian and Trustee

(pursuant to s. 13.1 of the Public Guardian and Trustee Act, R.S.O 1990, c. P.51, as amended)

  1. Effective July 1, 2016, interest shall be computed from the day on which the money was received by the Public Guardian and Trustee to the day before the date on which the money is available for payment to the person or trust entitled thereto and be added to each account and compounded at the end of each month;
    1. subject to subparagraphs (b) and (c) and paragraph 2 of this Certificate, on funds managed under the Mental Health Act, Substitute Decisions Act, Trustee Act, Victims’ Right to Proceeds of Crime Act, Ontario Disability Support Program Act, Powers of Attorney Act, Canada Pension Plan Act or other trust accepted by the Public Guardian and Trustee, at the rate of 2.00% per annum payable monthly and calculated on the closing daily balance;
    2. on funds managed under the Crown Administration of Estates Act, at the rate of 2.00% per annum payable monthly and calculated on the closing daily balance;
    3. on funds managed under the Cemeteries Act, at the rate of 2.00% per annum, payable monthly and calculated on the closing daily balance.
  2. Effective July 1, 2016, funds managed by the Public Guardian and Trustee pursuant to the Escheats Act and funds transferred to the Unadministered Estates Account of the Public Guardian and Trustee shall bear interest at the rate of 0%.
    1. Effective July 1, 2016, interest shall be computed from the day on which money was received by the Accountant of the Superior Court of Justice to the day before the date on which the money is available for payment to the person entitled thereto and be added to each account and compounded at the end of each month.
    2. Money paid or transferred to the Accountant of the Superior Court of Justice bears interest on the closing daily balance,
      1. in the case of money required to be held in United States currency, at the rate of 0.75%;
      2. in the case of money deposited for the benefit of minors and parties under disability, at the rate of 2.00% per annum, payable monthly; and
      3. in the case of all other money, including litigants, at the rate of 2.00% per annum, payable monthly.

Dated: June 1, 2016

Ken Goodman
Public Guardian & Trustee
Approved by the Investment Advisory Committee pursuant to section 13.1 of the Public Guardian and Trustee Act, on June 1, 2016.

Mark Fuller
Mark Fuller for Investment Advisory Committee

(149-G327)