RDSP definition
Examples of RDSP in a sentence
The voting rights attached to securities held under the RDSP and credited to the Holder’s account may be exercised by the Holder and for this purpose, the Holder is hereby appointed as attorney for the Issuer or Agent to execute and deliver proxies and/or other instruments in accordance with Applicable Legislation.
The Issuer and Agent and their officers, employees, and agents shall be indemnified by the Holder and the RDSP directly from RDSP Assets against all expenses, liabilities, claims, demands or penalties arising out of or in respect of the RDSP and the RDSP Assets.
Notwithstanding the foregoing, if the Units are “prohibited investments” for the purposes of an RRSP, RRIF, TFSA, RDSP or RESP, the annuitant of the RRSP or RRIF, the holder of the TFSA or RDSP, or the subscriber of the RESP, will be subject to a penalty tax as set out in the Tax Act.
Neither the Issuer nor the Agent will be liable for any expense, liability, claim, demands, taxes, damages, losses or penalties imposed on them or the RDSP (other than penalties for which the Issuer or Agent is liable under the Act) as a result of acting in good faith on the Holder’s authority or the authority of the Holder’s authorized dealer or representative.
If at any time the Units are a prohibited investment for a particular RRSP, RRIF, TFSA RDSP, or RESP, the annuitant thereof may be subject to adverse tax consequences.