Conflict of Interest Act (S.C. 2006, c. 9, s. 2)

Marginal note:Reimbursement of costs

• 31 (1) The Commissioner may order that the following administrative costs incurred by a public office holder be reimbursed:

  • (a) in relation to a divestment of assets,

    • (i) reasonable legal, accounting and transfer costs to establish and terminate a trust determined to be necessary by the Commissioner,

    • (ii) annual, actual and reasonable costs to maintain and administer the trust, in accordance with rates set from time to time by the Commissioner,

    • (iii) commissions for transferring, converting or selling assets where determined necessary by the Commissioner,

    • (iv) costs of other financial, legal or accounting services required because of the complexity of the arrangements for the assets, and

    • (v) commissions for transferring, converting or selling assets if there are no provisions for a tax deduction under the Income Tax Act; and

  • (b) in relation to a withdrawal from activities, the costs of removing a public office holder’s name from federal or provincial registries of corporations.

• Marginal note:Restriction

  (2) The following administrative costs are not eligible to be reimbursed under subsection (1):

  • (a) charges for the day-to-day operations of a business or commercial entity;

  • (b) charges associated with winding down a business;

  • (c) costs for acquiring permitted assets using proceeds from the required sale of other assets; and

  • (d) any income tax adjustment that may result from the reimbursement of trust costs.