Canada Education Savings Regulations
(a) both CLB accounts are in respect of the same beneficiary;
(b) the receiving RESP complies with the conditions for registration set out in subsection 146.1(2) of the Income Tax Act that apply in respect of education savings plans entered into on January 1, 1999; and
(c) at the time of the transfer, the receiving RESP has only one beneficiary or, where there is more than one, every beneficiary is a brother or sister of every other beneficiary.
(2) If an amount held in connection with a CLB account is transferred to another RESP, the amount that has been transferred is, at the time of the transfer,
(3) The amount of a CLB that is transferred from an RESP is considered to have been paid to the trustee under the receiving RESP.
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