GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Financial Administration Act — F-11 49
Report on debt management 49 (1) After the Public Accounts are tabled in the House of Commons, the Minister shall cause to be tabled in each House of Parliament, within the first 30 days on which that House is sitting after the Public Accounts are tabled in the House of Commons, a report on the activities of the Minister in relation to the following: (a) the money borrowed in the fiscal year to which the Public Accounts relate; (a.1) the money that is borrowed under an order made under paragraph 46.1(c) of the Financial Administration Act , other than that borrowed under such an order made during the period beginning on March 23, 2021 and ending on May 6, 2021, and that is due at the end of the fiscal year to which the Public Accounts relate; and (a.2) [Repealed, 2021, c. 7, s. 19] (b) the management of the public debt in the fiscal year to which the Public Accounts relate. Report on Minister’s plans (2) The Minister shall cause to be tabled in each House of Parliament for every fiscal year, not later than the 30th day on which that House is sitting after the start of the fiscal year to which the report relates, a report on the Minister’s plans in relation to the following: (a) the money to be borrowed in that fiscal year and the purposes for which the moneys will be borrowed; and (b) the management of the public debt in that fiscal year. R.S., 1985, c. F-11, s. 49; 1999, c. 26, s. 23; 2007, c. 29, s. 87; 2016, c. 7, s. 184 2020, c. 5, s. 25 2021, c. 7, s. 19 2022, c. 10, s. 185
Financial Administration Act — F-11 49.1
Report — borrowings in respect of extraordinary circumstances 49.1 (1) The Minister shall cause to be tabled in each House of Parliament a report on the money borrowed or to be borrowed under an order made under paragraph 46.1(c) within the first 30 days on which that House is sitting after the day on which the Governor in Council’s authorization is given under that paragraph. Report — borrowings in respect of extraordinary circumstances (2) The Minister shall cause to be tabled in each House of Parliament a report on the money borrowed or to be borrowed under paragraph 47(b) within the first 30 days on which that House is sitting after the day on which the Minister first borrows money under that paragraph. 2016, c. 7, s. 185 2020, c. 5, s. 26
Financial Administration Act — F-11 50
Signing securities 50 (1) Security certificates evidencing securities issued under the authority of this Part shall be signed by the Deputy Minister of Finance or an officer of the Department of Finance designated by the Governor in Council to sign on behalf of the Deputy Minister of Finance, and shall be countersigned by such officer of the Department of Finance or other person as the Governor in Council designates for that purpose. Facsimile signatures (2) The Minister may direct that there be substituted for signatures in the proper handwriting of one or both of the persons authorized to sign or countersign security certificates under subsection (1), facsimiles of those signatures. R.S., 1985, c. F-11, s. 50; 1995, c. 17, s. 59
Financial Administration Act — F-11 51
Registrars and fiscal agents 51 (1) The Governor in Council may (a) appoint one or more registrars to perform such services in respect of the registration of loans as the Governor in Council may prescribe; (b) appoint one or more fiscal agents to perform such services in respect of loans as the Governor in Council may prescribe; and (c) fix the remuneration or compensation of any registrar or fiscal agent appointed under this section. Delegation to Minister (2) The Governor in Council may authorize the Minister to do anything referred to in paragraphs (1)(a) to (c) for any period that the Governor in Council considers appropriate. R.S., 1985, c. F-11, s. 51; 1999, c. 26, s. 23.1
Financial Administration Act — F-11 52
Records of money borrowed 52 (1) The Minister shall cause to be maintained a system of books and records (a) showing all money authorized by Parliament to be borrowed by the issue and sale of securities; (b) containing a description and record of all money so borrowed and securities issued; and (c) showing all amounts paid in respect of the principal of or interest on all money so borrowed. Accounting by fiscal agents and registrars (2) Every fiscal agent and registrar shall annually, and as often as required by the Minister, give to the Minister an accounting, in such form and terms and containing such information as the Minister prescribes, of all his transactions as fiscal agent or registrar. R.S., c. F-10, s. 43
Financial Administration Act — F-11 53
Sinking fund 53 The Governor in Council may provide for the creation and management of a sinking fund with respect to any issue of securities or with respect to all securities issued. R.S., c. F-10, s. 44
Financial Administration Act — F-11 54
Borrowed money and interest 54 The repayment of all money borrowed and interest on that money, including the principal of and interest on all securities issued by or on behalf of Her Majesty with the authority of Parliament, is a charge on and payable out of the Consolidated Revenue Fund. R.S., 1985, c. F-11, s. 54; 2007, c. 29, s. 88
Financial Administration Act — F-11 55
Payment of loan expenses 55 With the authority of the Governor in Council, there may be paid out of the Consolidated Revenue Fund (a) all money required under section 53 to provide a sinking fund or other means of securing repayment of securities; (b) the remuneration and compensation of registrars and fiscal agents appointed under section 51; (c) all costs, expenses and charges incurred in the negotiation or raising of loans or in the issue, redemption, servicing, payment and management of any loan and any securities issued in respect thereof; (d) all money required to be paid under contracts and agreements entered into under this Part, either before or after the coming into force of this paragraph; and (e) all money that the Minister considers appropriate to pay in the exercise of his or her power to do any other thing relating to the borrowing of money under subsection 44(3). R.S., 1985, c. F-11, s. 55; 1991, c. 24, s. 50(F); 1999, c. 26, s. 23.2; 2016, c. 12, s. 122
Financial Administration Act — F-11 56
Payment for securities to agent or by salary deduction in trust money 56 (1) Where it is provided by a prospectus or other official notice issued by or under the authority of the Minister that a subscriber may purchase securities by payments to an authorized agent or by deductions from the remuneration of the subscriber by his employer, the amount of any such payment or deduction that has not been accounted for by the delivery of securities to the subscriber or repaid to the subscriber shall be deemed to be money received in trust for Her Majesty by the agent or employer for which the agent or employer is accountable to Her Majesty under section 76. Amount deemed segregated in trust (2) Where money paid or deducted pursuant to subsection (1) cannot be identified among the assets of the employer or agent, a portion of those assets equal in value to the amount of the payment or deduction shall be deemed to be segregated and held in trust for Her Majesty. R.S., 1985, c. F-11, s. 56; 1991, c. 24, s. 50(F)
Financial Administration Act — F-11 57
Investors’ Indemnity Account 57 There shall be established in the accounts of Canada an account to be known as the Investors’ Indemnity Account to which shall be credited the sum of twenty-five thousand dollars, such further amounts as are appropriated by Parliament for the purposes of this section and any recoveries of the losses referred to in section 58. R.S., c. F-10, s. 48
Financial Administration Act — F-11 58
Payment of losses 58 The Minister may, in accordance with and subject to the regulations, pay out of the Investors’ Indemnity Account any losses sustained by subscribers for securities who have paid all or part of the purchase price for those securities but have not received the security or repayment of the amount so paid, and losses sustained by any person in the redemption of securities. R.S., c. F-10, s. 49
Financial Administration Act — F-11 59
Not bound to execute trusts 59 Her Majesty and a fiscal agent or registrar acting as such are not bound to see to the execution of any express or implied trust to which any securities are subject. R.S., c. F-10, s. 50
Financial Administration Act — F-11 60.1
Delegation 60.1 The Minister may delegate to any officer of the Department of Finance any of the powers, duties and functions of the Minister under this Part, except the power to delegate under this section. 1999, c. 26, s. 24
Financial Administration Act — F-11
debt obligation means a bond, debenture, note or other evidence of indebtedness of an entity, whether secured or unsecured. ( titre de créance )
Financial Administration Act — F-11
entity means an entity, including a trust, that, in the Minister’s opinion, is operating in Canada. ( entité )
Financial Administration Act — F-11
financial markets includes markets for money, bonds, equities, derivatives, foreign exchange and commodities. ( marchés financiers )
Financial Administration Act — F-11
financial system includes financial institutions, financial markets and payment systems as defined in section 36 of the Canadian Payments Act . ( système financier )
Financial Administration Act — F-11 (a)
security means (a) in relation to a corporation, a share, a class of shares or a debt obligation of the corporation, and includes any conversion or exchange privilege, option or other right to acquire a share of the corporation; and (b) in relation to any other entity, any ownership interest in or debt obligation of the entity. ( titre )
Financial Administration Act — F-11 60.3
Incorporation 60.3 (1) If, in the Minister’s opinion, it is necessary to promote the stability or maintain the efficiency of the financial system in Canada, the Minister may, during the period beginning on the day on which this subsection comes into force and ending on September 30, 2020, with the Governor in Council’s authorization, procure the incorporation of a corporation, all of the shares of which are held by the Minister on behalf of Her Majesty in right of Canada. Not agent of Her Majesty (2) The corporation is not an agent of Her Majesty in right of Canada unless it is declared to be an agent of Her Majesty under an Act of Parliament. Application of Part X (3) Subject to any regulations made under subsection (4), Part X does not apply to the corporation. Regulations (4) The Minister may make regulations respecting the governance of the corporation, including regulations that adapt any provisions of this Act or the Canada Business Corporations Act and any regulations made under those Acts for the purpose of applying those provisions as adapted to the corporation. Directives (5) The Minister may give a directive to the corporation. Implementation (6) The directors of the corporation shall ensure that a directive is implemented in a prompt and efficient manner. Best interests (7) Compliance by the corporation with a directive is deemed to be in the best interests of the corporation. Terms and conditions (8) The Minister may, by order, establish terms and conditions in accordance with which the corporation shall enter into financial transactions. Contract with Her Majesty (9) The corporation may enter into a contract with Her Majesty in right of Canada. Payments out of C.R.F. (10) The Minister may make payments to the corporation out of the Consolidated Revenue Fund, at the times and in the manner that the Minister considers appropriate. Loans to corporation (11) The Minister may, out of the Consolidated Revenue Fund, lend money to the corporation on any terms and conditions that the Minister may fix. Powers of Minister (12) The Minister may merge, sell, wind-up or dissolve the corporation, dispose of any or all shares of the corporation or take other similar measures in respect of the corporation. Statutory Instruments Act (13) The Statutory Instruments Act does not apply to a directive given under subsection (5) or to an order made under subsection (8). Publication in Canada Gazette (14) The Minister shall publish a directive given under subsection (5) or an order made under subsection (8) in the Canada Gazette . 2020, c. 5, s. 28 2020, c. 6, s. 9
Financial Administration Act — F-11 60.4
Entity other than corporation 60.4 (1) If, in the Minister’s opinion, it is necessary to promote the stability or maintain the efficiency of the financial system in Canada, the Minister may, during the period beginning on the day on which this subsection comes into force and ending on September 30, 2020, with the Governor in Council’s authorization, establish an entity, other than a corporation, on any terms and conditions that the Minister considers appropriate. Payments out of C.R.F. (2) The Minister may make payments to the entity out of the Consolidated Revenue Fund, at the times and in the manner that the Minister considers appropriate. Loans to entity (3) The Minister may, out of the Consolidated Revenue Fund, lend money to the entity on any terms and conditions that the Minister may fix. 2020, c. 5, s. 28 2020, c. 6, s. 10
Financial Administration Act — F-11 61
Transfers, etc., of public property 61 (1) Subject to any other Act of Parliament, no transfer, lease or loan of public property shall be made except under the Federal Real Property and Federal Immovables Act in the case of federal real property or a federal immovable as defined in that Act, or under subsection (2) in the case of other public property. Regulations (2) The Governor in Council, on the recommendation of the Treasury Board, may authorize or make regulations authorizing the transfer, lease or loan of public property other than federal real property and federal immovables as defined in the Federal Real Property and Federal Immovables Act . R.S., 1985, c. F-11, s. 61; 1991, c. 50, s. 27; 2001, c. 4, s. 160; 2015, c. 3, s. 93(F)
Financial Administration Act — F-11 62
Management of public property 62 The deputy head of every department shall maintain adequate records in relation to public property for which the department is responsible and shall comply with regulations of the Treasury Board governing the custody and control of public property. R.S., c. F-10, s. 53
Financial Administration Act — F-11 63
Accounts of Canada 63 (1) Subject to regulations of the Treasury Board, the Receiver General shall cause accounts to be kept in such manner as to show (a) the expenditures made under each appropriation; (b) the revenues of Canada; and (c) the other payments into and out of the Consolidated Revenue Fund. Assets and liabilities (2) The Receiver General shall cause accounts to be kept to show such of the assets and direct and contingent liabilities of Canada and shall establish such reserves with respect to the assets and liabilities as, in the opinion of the President of the Treasury Board and the Minister, are required to present fairly the financial position of Canada. Accounts in Canadian currency (3) The accounts of Canada shall be kept in the currency of Canada. R.S., 1985, c. F-11, s. 63; 1999, c. 31, s. 111(F)
Financial Administration Act — F-11 64
Submission of Public Accounts to Parliament 64 (1) A report, called the Public Accounts, shall be prepared by the Receiver General for each fiscal year and shall be laid before the House of Commons by the President of the Treasury Board on or before December 31 next following the end of that fiscal year or, if the House of Commons is not then sitting, on any of the first fifteen days next thereafter that the House of Commons is sitting. Contents of Public Accounts (2) The Public Accounts shall be in such form as the President of the Treasury Board and the Minister may direct, and shall include (a) a statement of (i) the financial transactions of the fiscal year, (ii) the expenditures and revenues of Canada for the fiscal year, and (iii) such of the assets and liabilities of Canada as, in the opinion of the President of the Treasury Board and the Minister, are required to show the financial position of Canada as at the termination of the fiscal year; (b) the contingent liabilities of Canada; (c) the opinion of the Auditor General of Canada as required under section 6 of the Auditor General Act ; and (d) such other accounts and information relating to the fiscal year as are deemed necessary by the President of the Treasury Board and the Minister to present fairly the financial transactions and the financial position of Canada or as are required by this Act or any other Act of Parliament to be shown in the Public Accounts. R.S., 1985, c. F-11, s. 64; 1999, c. 31, s. 112(F)
Financial Administration Act — F-11 65
Ministers to provide records, etc. 65 For the purpose of the keeping of the accounts of Canada under section 63 and the preparation of the Public Accounts under section 64, the Receiver General may, from time to time, subject to such regulations as the Treasury Board may make, send a notice to each appropriate Minister requesting such records, accounts or statements or other information as is specified in the notice and each appropriate Minister shall, within such reasonable time as is specified in the notice, provide the Receiver General with the records, accounts or statements or other information requested. R.S., c. F-10, s. 56; R.S., c. 11(2nd Supp.), s. 1; 1976-77, c. 34, s. 23; 1980-81-82-83, c. 170, s. 16
Financial Administration Act — F-11 65.1
Quarterly financial reports 65.1 (1) Every department shall cause to be prepared, in the form and manner provided for by the Treasury Board, a quarterly financial report for each of the first three fiscal quarters of each fiscal year. Contents (2) The report shall contain (a) a financial statement for the fiscal quarter and the period from the start of the fiscal year to the end of that fiscal quarter; (b) comparative financial information for the preceding fiscal year; and (c) a statement outlining the results, risks and significant changes in relation to operations, personnel and programs. Report to be made public (3) The appropriate Minister shall cause the report to be made public within 60 days after the end of the fiscal quarter to which the report relates. Regulations (4) The Treasury Board may, by regulation, exempt a department from the requirement set out in subsection (1) or provide that any of the content referred to in subsection (2) be excluded from its report. 2009, c. 31, s. 58
Financial Administration Act — F-11 66
Definitions 66 In this Part, appropriate paying officer , in relation to a Crown debt, means the paying officer who makes the payments in respect of that debt; ( agent payeur compétent ) contract means a contract involving the payment of money by the Crown; ( marché ) Crown means Her Majesty in right of Canada; ( Sa Majesté ) Crown debt means any existing or future debt due or becoming due by the Crown, and any other chose in action in respect of which there is a right of recovery enforceable by action against the Crown; ( créance sur Sa Majesté ) paying officer means any person designated as such by regulation; ( agent payeur ) prescribed means prescribed by regulation. ( Version anglaise seulement ) R.S., 1985, c. F-11, s. 66; 1999, c. 31, s. 113(F)
Financial Administration Act — F-11
appropriate paying officer , in relation to a Crown debt, means the paying officer who makes the payments in respect of that debt; ( agent payeur compétent )
Financial Administration Act — F-11
contract means a contract involving the payment of money by the Crown; ( marché )
Financial Administration Act — F-11
Crown means Her Majesty in right of Canada; ( Sa Majesté )
Financial Administration Act — F-11
Crown debt means any existing or future debt due or becoming due by the Crown, and any other chose in action in respect of which there is a right of recovery enforceable by action against the Crown; ( créance sur Sa Majesté )
Financial Administration Act — F-11
paying officer means any person designated as such by regulation; ( agent payeur )
Financial Administration Act — F-11
prescribed means prescribed by regulation. ( Version anglaise seulement )
Financial Administration Act — F-11 67
General prohibition 67 Except as provided in this Act or any other Act of Parliament, (a) a Crown debt is not assignable; and (b) no transaction purporting to be an assignment of a Crown debt is effective so as to confer on any person any rights or remedies in respect of that debt. R.S., c. F-10, s. 80
Financial Administration Act — F-11 68
Assignments of specified Crown debts 68 (1) Subject to this section, an assignment may be made of (a) a Crown debt that is an amount due or becoming due under a contract; and (b) any other Crown debt of a prescribed class. Conditions for validity (2) The assignment referred to in subsection (1) is valid only if (a) it is absolute, in writing and made under the hand of the assignor; (b) it does not purport to be by way of charge only; and (c) notice of the assignment has been given to the Crown as provided in section 69. Effect of assignment (3) The assignment referred to in subsections (1) and (2) is effectual in law, subject to all equities that would have been entitled to priority over the right of the assignee if this section had not been enacted, to pass and transfer, from the date service on the Crown of notice of the assignment is effected, (a) the legal right to the Crown debt; (b) all legal and other remedies for the Crown debt; and (c) the power to give a good discharge for the Crown debt without the concurrence of the assignor. Original conditions and restrictions (4) An assignment made in accordance with this Part is subject to all conditions and restrictions in respect of the right of transfer that relate to the original Crown debt or that attach to or are contained in the original contract. Salary, wages, pay and allowances not assignable (5) Notwithstanding subsection (1), any amount due or becoming due by the Crown as or on account of salary, wages, pay or pay and allowances is not assignable and no transaction purporting to be an assignment of any such amount is effective to confer on any person any rights or remedies in respect of that amount. R.S., 1985, c. F-11, s. 68; 1991, c. 24, s. 49(E)
Financial Administration Act — F-11 69
Notice of assignment 69 (1) The notice referred to in paragraph 68(2)(c) shall be given to the Crown by serving on or sending by registered mail to the Receiver General or a paying officer, in prescribed form, notice of the assignment, together with a copy of the assignment accompanied by such other documents completed in such manner as may be prescribed. When notice deemed served (2) Service of the notice referred to in subsection (1) shall be deemed not to have been effected until acknowledgment of the notice, in prescribed form, is sent to the assignee, by registered mail, under the hand of the appropriate paying officer. R.S., c. F-10, s. 82
Financial Administration Act — F-11 70
Limitation of application of this Part 70 This Part does not apply (a) to any negotiable instrument; (b) to any Crown debt incurred by or in the name of a corporation set out in Schedule III; or (c) to any securities issued under Part IV. R.S., 1985, c. F-11, s. 70; 1998, c. 13, s. 21
Financial Administration Act — F-11 71
Regulations 71 The Governor in Council may make regulations (a) designating persons as paying officers for the purposes of this Part; (b) prescribing additional classes of Crown debts for the purpose of subsection 68(1); (c) prescribing the forms of notices of assignment and acknowledgments thereof; (d) prescribing the documents to be submitted in connection with a notice of assignment, the forms of those documents and the manner in which they are to be completed; and (e) generally, for carrying into effect the purposes and provisions of this Part. R.S., c. F-10, s. 84