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.
(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.
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