6 October 2017 APFF Financial Strategies and Instruments Roundtable Q. 8, 2017-0712621C6 F - Dépôt en monnaie étrangère-Immobilisation -- summary under Subsection 70(5)

S. 39(1.1) would not apply to a sum of money in foreign currency held on deposit by an individual at a financial institution. Instead the individual would be regarded as holding a debt of that institution, which would be subject to the usual rules (e.g., ss. 39(1) and 70)) on its disposition.