MHHS · Consumer Protection Act
Part 13 — Licensing
137 Establishment of fund by regulatory board
following purposes:
(a) to pay claims of persons who have suffered loss or damage
arising out of the operation of a business by a licensee;
(b) any other purposes authorized by the regulations.
(2) Subject to the regulations, the regulatory board may collect
money by the levy of assessments on
(a) licensees, and
(b) designated agents as defined in section 102
who are engaged or employed in a business in respect of which
powers, duties or functions have been delegated to the board under
section 136(5).
(3) The money collected under subsection (2) and any income
from the investment of that money must be credited to the fund.
(4) A regulatory board is deemed to hold in trust all money
credited to a fund and must immediately deposit that money in a
trust account in a bank, treasury branch, trust corporation or credit
union in Alberta, separate and apart from any other money of the
regulatory board.
(5) Despite subsections (3) and (4), a regulatory board may, from
the income from the investment of the money in a fund, pay the
administrative costs associated with the fund.
(6) If the income from the investment of the money in a fund is
insufficient to pay the administrative costs associated with the
fund, the regulatory board may collect money to pay those costs by
the levy of assessments on licensees and designated agents as
defined in section 102 in accordance with the regulations.
(7) The Minister may make regulations
RSA 2000
(a) respecting purposes for which the money in a fund may be
used, in addition to the purpose referred to in subsection
(1)(a);
(b) respecting the investment of the money in a fund that is n ot
currently required for disposition;
(c) respecting the protection, b y insurance or other means, of
the money in a fund against claims or losses;
(d) respecting the administration of a fund and the levy and
collection of assessments for a fund;
(e) requiring a regulatory board to make a report to the Minis ter
and respecting the nature and contents of such a report and
the times at which it must be made;
(f) respecting the kinds of claims that may be paid from a fun d
and the conditions to be met before any claim is paid from a
fund;
(g) respecting the limits of liability of a fund;
(h) respecting the time period within which claims against a
fund must be made;
(h.1) respecting appeals from claims decisions;
(h.2) respecting the giving of notices related to claims against a
fund;
(i) providing for the recovery by the regulatory board from a
licensee or designated agent as defined in section 102 of
amounts paid from the fund to a claimant in respect of a
claim against the licensee or designated agent for loss or
damage arising out of the operation of a business by the
licensee or that involved the designated agent;
(j) respecting the wi nding-up of a fund.
RSA 2000 cF-2 s137;2017 c18 s1(16)