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Financial Administration Act (R.S.C., 1985, c. F-11)

Act current to 2020-09-09 and last amended on 2020-07-01. Previous Versions

AMENDMENTS NOT IN FORCE

  • — 2013, c. 33, s. 228(2)

      • 2006, c. 9, s. 262(2)

         (2) Subsection 85(1.01) of the Act is replaced by the following:

        • Exemption for Canada Pension Plan Investment Board

          (1.01) Divisions I to IV, except for sections 89.8 to 89.92 and 154.01, do not apply to the Canada Pension Plan Investment Board.

  • — 2019, c. 29, s. 276

    • 2002, c. 9, s. 3

      276 Part I of Schedule III to the Financial Administration Act is amended by striking out the following:

      • Canadian Air Transport Security Authority

        Administration canadienne de la sûreté du transport aérien

  • — 2020, c. 6, s. 8

      • 8 (1) Subsections 60.2(2) to (2.3) of the Financial Administration Act are replaced by the following:

        • Contracts

          (2) Subject to subsection (3), the Minister may, with the Governor in Council’s authorization, enter into, on behalf of Her Majesty in right of Canada, any contract that in the Minister’s opinion is necessary to promote the stability or maintain the efficiency of the financial system in Canada, including such a contract to

          • (a) purchase, acquire, hold, lend or sell or otherwise dispose of securities of an entity;

          • (b) create a charge on, or right or interest in, securities of an entity held by the Minister;

          • (c) make a loan to an entity;

          • (d) provide a line of credit to an entity;

          • (e) guarantee any debt, obligation or financial asset of an entity; or

          • (f) provide loan insurance or credit insurance for the benefit of an entity in respect of any debt, obligation or financial asset of the entity.

      • (2) The portion of subsection 60.2(3) of the Act before paragraph (a) is replaced by the following:

        • Non-application to certain entities

          (3) Paragraph (2)(a) does not apply to

      • (3) Subsections 60.2(4) to (6) of the Act are replaced by the following:

        • Section 90 does not apply

          (4) Section 90 does not apply if the Minister purchases, acquires or sells or otherwise disposes, under paragraph (2)(a), of shares within the meaning of that section.

        • Section 61 and Surplus Crown Assets Act do not apply

          (5) Section 61 and the Surplus Crown Assets Act do not apply if the Minister holds, loans or sells or otherwise disposes of securities under paragraph (2)(a).

        • Payments out of C.R.F.

          (6) Any amount payable under or in connection with a contract entered into under this section may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister, at the times and in the manner that the Minister considers appropriate.

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