Law:Jobs and Economic Growth Act

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S.c. 2010, c. 12

Assented to 2010-07-12

An Act to implement certain provisions of the budget tabled in Parliament on March 4, 2010 and other measures

Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:


Contents

Short Title

Short title

1. This Act may be cited as the Jobs and Economic Growth Act.


Part 1. Amendments To The Income Tax Act And Related Acts And Regulations

Income Tax Act

2. (Amendment)

3. (Amendment)

4. (Amendment)

5. (Amendment)

6. (Amendment)

7. (Amendments)

8. (Amendments)

9. (Amendment)

10. (Amendments)

11. (Amendment)

12. (Amendment)

13. (Amendment)

14. (Amendments)

15. (Amendment)

16. (Amendments)

17. (Amendments)

18. (Amendment)

19. (Amendment)

20. (Amendment)

21. (Amendments)

22. (Amendments)


Income Tax Regulations

23. (Amendment)

24. (Amendments)

25. (Amendments)


Canada Disability Savings Act

26. (Amendments)

27. (Amendments)

28. (Amendments)


Canada Disability Savings Regulations

29. (Amendment)


Canada Education Savings Act

30. (Amendments)

31. (Amendments)


Canada Education Savings Regulations

32. (Amendments)

33. (Amendment)


Canada Pension Plan Regulations

34. (Amendment)


Insurable Earnings and Collection of Premiums Regulations

35. (Amendment)


Regulations Excluding Certain Indictable Offences from the Definition of “Designated Offence”

36. (Amendments)


Part 2. Amendments In Respect Of Excise Duties And Sales And Excise Taxes

Excise Act

37. (Amendment)


Amendments in Respect of the Excise Act, 2001

Excise Act, 2001

38. (Amendments)

39. (Amendments)

40. (Amendment)

41. (Amendment)

42. (Amendment)

43. (Amendment)

44. (Amendment)

45. (Amendment)

46. (Amendment)

47. (Amendments)


Customs Act

48. (Amendment)

49. (Amendment)

50. (Amendment)

51. (Amendment)

52. (Amendment)

53. (Amendment)


Application

54. (Transitional Provision)


Excise Tax Act

55. (Amendments)

56. (Amendment)

57. (Amendment)

58. (Amendment)

59. (Amendment)

60. (Amendment)

61. (Amendments)

62. (Amendment)

63. (Amendments)

64. (Amendments)

65. (Amendment)

66. (Amendment)

67. (Amendments)

68. (Amendment)

69. (Amendment)

70. (Amendment)

71. (Amendment)

72. (Amendment)

73. (Amendments)

74. (Amendment)

75. (Amendments)

76. (Amendment)

77. (Amendment)

78. (Amendment)

79. (Amendment)

80. (Amendments)

81. (Amendment)

82. (Amendment)

83. (Amendment)

84. (Amendment)

85. (Amendment)

86. (Amendment)

87. (Amendment)

88. (Amendment)

89. (Amendment)


Health Care Services (GST/HST) Regulations

90. (Amendment)


Input Tax Credit Allocation Methods (GST/HST) Regulations

Making of Regulations

Making

91. The Input Tax Credit Allocation Methods (GST/HST) Regulations are made as follows:

Input Tax Credit Allocation Methods (gst/hst) RegulationsInterpretation

1. The definitions in this section apply in these Regulations.

“Act”

« Loi »

“Act” means the Excise Tax Act.

“bank”

« banque »

“bank” in respect of a fiscal year does not include a person that is at any time in the fiscal year an insurer.

“insurer”

« assureur »

“insurer” in respect of a fiscal year means a person that is an insurer (as defined in subsection 123(1) of the Act) and that carries on at any time in the fiscal year an insurance business as the principal business of the person in Canada.

“securities dealer”

« courtier en valeurs mobilières »

“securities dealer” in respect of a fiscal year means a person that

(a) carries on at any time in the fiscal year a business as a trader or dealer in, or as a broker or salesperson of, securities as the principal business of the person in Canada;

(b) is registered under the laws of Canada or a province to carry on in Canada at any time in the fiscal year a business as a trader or dealer in, or as a broker or salesperson of, securities; and

(c) is not a bank or an insurer at any time in the fiscal year.

Prescribed classes

2. The following classes of financial institutions are prescribed for the purposes of the definition “qualifying institution” in subsection 141.02(1) of the Act and for the purposes of subsections 141.02(3), (8), (9), (24) and (30) of the Act:

(a) banks;

(b) insurers; and

(c) securities dealers.

Prescribed amounts

3. The following amounts are prescribed for the purposes of the definition “qualifying institution” in subsection 141.02(1) of the Act and for the purposes of subsection 141.02(24) of the Act:

(a) in the case of banks, $500,000;

(b) in the case of insurers, $500,000; and

(c) in the case of securities dealers, $500,000.

Prescribed percentages

4. The following percentages are prescribed for the purposes of the definition “qualifyingnstitution” in subsection 141.02(1) of the Act and for the purposes of subsections 141.02(8), (9) and (30) of the Act:

(a) in the case of banks, 12%;

(b) in the case of insurers, 10%; and

(c) in the case of securities dealers, 15%.


Coming into Force

April 1, 2007

92. The Input Tax Credit Allocation Methods (GST/HST) Regulations, as made by section 91, are deemed to have come into force on April 1, 2007.


Interest Rates (Excise Act, 2001) Regulations

93. (Amendment)


Interest Rates (Excise Tax Act) Regulations

94. (Amendment)


Coordinating Amendment

95. (Amendments)


Part 3. Amendments In Respect Of The Air Travellers Security Charge

Air Travellers Security Charge Act

96. (Amendments)


Interest Rates (Air Travellers Security Charge Act) Regulations

97. (Amendment)


Part 4. Softwood Lumber Products Export Charge Act, 2006

Amendments to the Act

98. (Amendment)

99. (Amendment)

100. (Amendment)

101. (Amendment)

102. (Amendment)


Coming into Force

Order in council

July 1, 2010

(2) Section 98 comes into force, or is deemed to have come into force, on July 1, 2010.


Part 5. Customs Tariff

Amendments to the Act

104. to 1644. (Amendments)


Coming into Force

Deemed coming into force — March 5, 2010

1645. This Part is deemed to have come into force on March 5, 2010.


Part 6. Federal-provincial Fiscal Arrangements Act

1646. (Amendment)

1647. (Amendment)

1648. (Amendment)


Part 7. Expenditure Restraint Act

1649. (Amendment)


Part 8. Amendments Relating To Certain Governmental Bodies

Division 1

Amendments Relating to Certain Governor in Council Appointments

Alberta-British Columbia Boundary Act, 1974

Amendments to the Act

1650. (Amendment)

1651. (Amendment)

1652. (Amendment)


Coming into Force

Order in council


Asia-Pacific Foundation of Canada Act

Amendment to the Act

1654. (Amendment)


Coming into Force

Order in council


Assisted Human Reproduction Act

Amendment to the Act

1656. (Amendment)


Coming into Force

Order in council


Budget Implementation Act, 1997

Amendment to the Act (Canada Foundation for Innovation)

1658. (Amendment)


Coming into Force

Order in council


Business Development Bank of Canada Act

Amendment to the Act

1660. (Amendment)


Coming into Force

Order in council


Canada Grain Act

Amendments to the Act

1662. (Amendment)

1663. (Amendment)


Coming into Force

Order in council


Canada Mortgage and Housing Corporation Act

Amendments to the Act

1665. (Amendment)

1666. (Amendments)


Coming into Force

Order in council


Canada Pension Plan

Amendments to the Act

1668. (Amendment)

1669. (Amendment)


Coming into Force

Order in council


Canada School of Public Service Act

Amendments to the Act

1671. (Amendment)

1672. (Amendment)

1673. (Amendments)


Related Amendment to the Access to Information Act

1674. (Amendment)


Related Amendments to the Financial Administration Act

1675. (Amendments)


Related Amendment to the Official Languages Act

1676. (Amendment)


Related Amendment to the Privacy Act

1677. (Amendment)


Related Amendments to the Public Servants Disclosure Protection Act

1678. (Amendment)

1679. (Amendment)

1680. (Amendments)

1681. (Amendment)

1682. (Amendment)


Coming into Force

Order in council


Canadian Centre for Occupational Health and Safety Act

Amendments to the Act

1684. (Amendment)

1685. (Amendment)


Coming into Force

Order in council


Canadian Centre on Substance Abuse Act

Amendments to the Act

1687. (Amendment)

1688. (Amendment)

1689. (Amendment)

1690. (Amendment)

1691. (Amendment)


Coming into Force

Order in council


Canadian Institutes of Health Research Act

Amendment to the Act

1693. (Amendment)


Coming into Force

Order in council


Canadian International Trade Tribunal Act

Amendment to the Act

1695. (Amendment)


Coming into Force

Order in council


Canadian Race Relations Foundation Act

Amendments to the Act

1697. (Amendment)

1698. (Amendment)


Coming into Force

Order in council


Canadian Radio-television and Telecommunications Commission Act

Amendments to the Act

1700. (Amendment)

1701. (Amendment)

1702. (Amendment)

1703. (Amendments)

1704. (Amendment)

1705. (Amendment)

1706. (Amendment)

1707. (Amendment)

1708. (Amendment)

1709. (Amendment)


Consequential Amendment to the Broadcasting Act

1710. (Amendment)


Coming into Force

Order in council


Canadian Space Agency Act

Amendments to the Act

1712. (Amendment)

1713. (Amendment)

1714. (Amendment)

1715. (Amendment)


Coming into Force

Order in council


Canadian Tourism Commission Act

Amendments to the Act

1717. (Amendment)

1718. (Amendments)

1719. (Amendment)

1720. (Amendment)

1721. (Amendment)


Coming into Force

Order in council


Department of Human Resources and Skills Development Act

Amendment to the Act

1723. (Amendment)


Coming into Force

Order in council


Energy Supplies Emergency Act

Amendments to the Act

1725. (Amendment)

1726. (Amendment)

1727. (Amendment)


Coming into Force

Order in council


Export Development Act

Amendment to the Act

1729. (Amendment)


Coming into Force

Order in council


Farm Products Agencies Act

Amendments to the Act

1731. (Amendments)


Coming into Force

Order in council


First Nations Fiscal and Statistical Management Act

Amendments to the Act

1733. (Amendment)

1734. (Amendment)

1735. (Amendment)

1736. (Amendment)


Coming into Force

Order in council


Freshwater Fish Marketing Act

Amendment to the Act

1738. (Amendment)


Coming into Force

Order in council


Historic Sites and Monuments Act

Amendments to the Act

1740. (Amendments)

1741. (Amendment)


Coming into Force

Order in council


International Boundary Commission Act

Amendments to the Act

1743. (Amendment)

1744. (Amendment)


Coming into Force

Order in council


International Development Research Centre Act

Amendments to the Act

1746. (Amendments)

1747. (Amendment)

1748. (Amendment)

1749. (Amendment)

1750. (Amendments)

1751. (Amendment)

1752. (Amendment)

1753. (Amendment)


Coming into Force

Order in council


National Defence Act

Amendment to the Act

1755. (Amendment)


Coming into Force

Order in council


National Research Council Act

Amendment to the Act

1757. (Amendment)


Coming into Force

Order in council


National Round Table on the Environment and the Economy Act

Amendment to the Act

1759. (Amendment)


Coming into Force

Order in council


Natural Sciences and Engineering Research Council Act

Amendment to the Act

1761. (Amendment)


Coming into Force

Order in council


Public Sector Pension Investment Board Act

Amendment to the Act

1763. (Amendment)


Coming into Force

Order in council


Roosevelt Campobello International Park Commission Act

Amendment to the Act

1765. (Amendment)


Coming into Force

Order in council


Social Sciences and Humanities Research Council Act

Amendment to the Act

1767. (Amendment)


Coming into Force

Order in council


Standards Council of Canada Act

Amendments to the Act

1769. (Amendment)

1770. (Amendment)

1771. (Amendment)

1772. (Amendment)


Coming into Force

Order in council


Status of the Artist Act

Amendment to the Act

1774. (Amendment)


Coming into Force

Order in council


Division 2

North American Free Trade Agreement Implementation Act

Amendments to the Act

1776. (Amendment)

1777. (Amendment)


Transitional Provisions

1778. (Transitional Provisions)


Consequential Amendments to the Financial Administration Act

1779. (Amendment)

1780. (Amendment)

1781. (Amendment)


Consequential Amendment to the Special Import Measures Act

1782. (Amendment)


Coming into Force

Order in council


Division 3

The Intercolonial and Prince Edward Island Railways Employees’ Provident Fund Act

Repeal of the Act

1784. (Repeal)


Coming into Force

Order in council


Part 9. Pension Benefits Standards Act, 1985

Amendments to the Act

1786. (Amendments)

1787. (Amendment)

1788. (Amendments)

1789. (Amendment)

1790. (Amendment)

1791. (Amendments)

1792. (Amendment)

1793. (Amendments)

1794. (Amendment)

1795. (Amendment)

1796. (Amendments)

1797. (Amendment)

1798. (Amendment)

1799. (Amendment)

1800. (Amendment)

1801. (Amendments)

1802. (Amendment)

1803. (Amendments)

1804. (Amendment)

1805. (Amendment)

1806. (Amendments)

1807. (Amendment)

1808. (Amendment)

1809. (Amendments)

1810. (Amendment)

1811. (Amendments)

1812. (Amendment)

1813. (Amendments)

1814. (Amendment)

1815. (Amendments)

1816. (Amendments)

1817. (Amendment)

1818. (Amendment)

1819. (Amendments)

1820. (Amendments)

1821. (Amendment)

1822. (Amendment)

1823. (Amendment)

1824. (Amendment)

1825. (Amendment)


Transitional Provision

1826. (Repealed before coming into force, 2010, c. 25, s. 198)

Previous Version

Coming into Force

Order in council


PART 10. AGREEMENT ON SOCIAL SECURITY BETWEEN CANADA AND THE REPUBLIC OF POLAND — RETROACTIVE COMING INTO FORCE

Coming into force of Agreement

1828. Despite sections 41 and 42 of the Old Age Security Act, the Agreement on Social Security between Canada and the Republic of Poland, signed on April 2, 2008, is deemed to have come into force in Canada on October 1, 2009.

Actions taken

1829. All actions taken in accordance with the conditions of the Agreement referred to in section 1828 during the period beginning on October 1, 2009 and ending on the day on which section 1828 comes into force, including the exchange of information — with respect to a person — that is obtained under the Old Age Security Act or prepared under that Act from that information between the competent authorities or competent institutions of Canada and the Republic of Poland and the payment of any benefits purporting to have been made under that Act, are deemed to be lawful.

Interpretation

1830. For the purposes of section 1829, “competent authority” and “competent institution” have the same meanings as in the Agreement referred to in section 1828.


Part 11. Export Development Act

1831. (Amendment)

1832. (Amendment)

1833. (Amendment)


Part 12. Payment Card Networks

Enactment of Payment Card Networks Act

Enactment

1834. The Payment Card Networks Act is enacted as follows:

(See Payment Card Networks Act)


Related Amendments to the Financial Consumer Agency of Canada Act

1835. (Amendment)

1836. (Amendment)

1837. (Amendments)

1838. (Amendment)

1839. (Amendment)

1840. (Amendments)

1841. (Amendment)

1842. (Amendments)

1843. (Amendments)

1844. (Amendment)

1845. (Amendment)

1846. (Amendment)

1847. (Amendment)

1848. (Amendment)

1849. (Amendment)


Coming into Force

Order in council


Part 13. Financial Consumer Agency Of Canada Act

Amendments to the Act

1851. (Amendments)

1852. (Amendments)

1853. (Amendment)

1854. (Amendment)

1855. (Amendment)

1856. (Amendment)

1857. (Amendment)


Consequential Amendments

Bank Act

1858. (Amendment)


Cooperative Credit Associations Act

1859. (Amendment)


Insurance Companies Act

1860. (Amendment)


Trust and Loan Companies Act

1861. (Amendment)


Part 14. Proceeds Of Crime (money Laundering) And Terrorist Financing Act

Amendments to the Act

1862. (Amendments)

1863. (Amendment)

1864. (Amendment)

1865. (Amendment)

1866. (Amendment)

1867. (Amendment)

1868. (Amendment)

1869. (Amendment)

1870. (Amendments)

1871. (Amendment)

1872. (Amendment)

1873. (Amendment)

1874. (Amendment)

1875. (Amendments)

1876. (Amendment)

1877. (Amendment)

1878. (Amendments)

1879. (Amendment)

1880. (Amendment)

1881. (Amendment)

1882. (Amendment)


Consequential Amendment to the Office of the Superintendent of Financial Institutions act

1883. (Amendment)


Coming into Force

Order in council


Part 15. Canada Post Corporation Act

1885. (Amendment)


Part 16. Canada Deposit Insurance Corporation Act

Amendments to the Act

1886. (Amendment)

1887. (Amendment)

1888. (Amendment)

1889. (Amendment)

1890. (Amendment)

1891. (Amendment)

1892. (Amendment)


Coming into Force

Subsection 245(7) of the Budget Implementation Act, 2009


Part 17. Federal Credit Unions

Bank Act

1894. (Amendments)

1895. (Amendment)

1896. (Amendment)

1897. (Amendments)

1898. (Amendment)

1899. (Amendments)

1900. (Amendment)

1901. (Amendments)

1902. (Amendment)

1903. (Amendment)

1904. (Amendment)

1905. (Amendment)

1906. (Amendment)

1907. (Amendment)

1908. (Amendment)

1909. (Amendment)

1910. (Amendment)

1911. (Amendment)

1912. (Amendment)

1913. (Amendment)

1914. (Amendment)

1915. (Amendment)

1916. (Amendment)

1917. (Amendment)

1918. (Amendment)

1919. (Amendment)

1920. (Amendment)

1921. (Amendment)

1922. (Amendment)

1923. (Amendment)

1924. (Amendment)

1925. (Amendments)

1926. (Amendment)

1927. (Amendment)

1928. (Amendment)

1929. (Amendment)

1930. (Amendment)

1931. (Amendment)

1932. (Amendment)

1933. (Amendment)

1934. (Amendments)

1935. (Amendments)

1936. (Amendment)

1937. (Amendment)

1938. (Amendment)

1939. (Amendment)

1940. (Amendments)

1941. (Amendment)

1942. (Amendments)

1943. (Amendment)

1944. (Amendments)

1945. (Amendment)

1946. (Amendment)

1947. (Amendment)

1948. (Amendment)

1949. (Amendments)

1950. (Amendments)

1951. (Amendment)

1952. (Amendment)

1953. (Amendments)

1954. (Amendment)

1955. (Amendments)

1956. (Amendment)

1957. (Amendment)

1958. (Amendments)

1959. (Amendment)

1960. (Amendment)

1961. (Amendments)

1962. (Amendments)

1963. (Amendments)

1964. (Amendments)

1965. (Amendments)

1966. (Amendment)

1967. (Amendment)

1968. (Amendment)

1969. (Amendment)

1970. (Amendment)

1971. (Amendment)

1972. (Amendments)

1973. (Amendment)

1974. (Amendment)

1975. (Amendments)

1976. (Amendments)

1977. (Amendments)

1978. (Amendment)

1979. (Amendment)

1980. (Amendment)

1981. (Amendment)

1982. (Amendment)

1983. (Amendment)

1984. (Amendment)

1985. (Amendment)

1986. (Amendment)

1987. (Amendment)

1988. (Amendment)

1989. (Amendment)

1990. (Amendment)

1991. (Amendment)

1992. (Amendment)

1993. (Amendments)

1994. (Amendment)

1995. (Amendment)

1996. (Amendment)

1997. (Amendment)

1998. (Amendments)

1999. (Amendment)

2000. (Amendments)

2001. (Amendment)

2002. (Amendments)

2003. (Amendment)

2004. (Amendment)

2005. (Amendments)

2006. (Amendment)

2007. (Amendments)

2008. (Amendments)

2009. (Amendments)

2010. (Amendment)

2011. (Amendment)

2012. (Amendment)

2013. (Amendment)

2014. (Amendment)

2015. (Amendment)

2016. (Amendment)

2017. (Amendments)

2018. (Amendments)

2019. (Amendment)

2020. (Amendment)

2021. (Amendments)

2022. (Amendment)

2023. (Amendment)

2024. (Amendment)

2025. (Amendment)

2026. (Amendment)

2027. (Amendments)

2028. (Amendment)

2029. (Amendment)

2030. (Amendment)

2031. (Amendment)

2032. (Amendment)

2033. (Amendment)

2034. (Amendment)

2035. (Amendments)

2036. (Amendment)

2037. (Amendments)

2038. (Amendment)

2039. (Amendment)

2040. (Amendments)

2041. (Amendments)

2042. (Amendment)

2043. (Amendments)

2044. (Amendments)

2045. (Amendment)

2046. (Amendment)

2047. (Amendments)

2048. (Amendment)

2049. (Amendment)

2050. (Amendments)

2051. (Amendment)

2052. (Amendment)

2053. (Amendment)

2054. (Amendment)

2055. (Amendment)

2056. (Amendment)

2057. (Amendment)

2058. (Amendment)

2059. (Amendment)

2060. (Amendment)

2061. (Amendment)

2062. (Amendment)

2063. (Amendment)

2064. (Amendment)

2065. (Amendment)

2066. (Amendment)

2067. (Amendment)

2068. (Amendments)

2069. (Amendments)

2070. (Amendment)

2071. (Amendments)

2072. (Amendment)

2073. (Amendment)

2074. (Amendment)

2075. (Amendment)

2076. (Amendments)

2077. (Amendment)

2078. (Amendments)

2079. (Amendment)

2080. (Amendment)

2081. (Amendment)

2082. (Amendment)

2083. (Amendment)

2084. (Amendment)

2085. (Amendments)

2086. (Amendment)

2087. (Amendments)

2088. (Amendment)

2089. (Amendments)

2090. (Amendments)

2091. (Amendment)

2092. (Amendment)

2093. (Amendments)


Canada Deposit Insurance Corporation Act

2094. (Amendments)

2095. (Amendment)

2096. (Amendment)

2097. (Amendment)

2098. (Amendment)

2099. (Amendment)

2100. (Amendment)

2101. (Amendment)

2102. (Amendment)

2103. (Amendment)

2104. (Amendment)

2105. (Amendment)

2106. (Amendments)

2107. (Amendments)


Income Tax Act

2108. (Amendment)

2109. (Amendments)


Related Amendments

Bank of Canada Act

2110. (Amendment)

2111. (Amendment)

2112. (Amendment)


Canada Cooperatives Act

2113. (Amendment)


Cooperative Credit Associations Act

2114. (Amendment)

2115. (Amendments)


Financial Consumer Agency of Canada Act

2116. (Amendment)


Insurance Companies Act

2117. (Amendment)

2118. (Amendment)

2119. (Amendment)

2120. (Amendment)

2121. (Amendment)


Office of the Superintendent of Financial Institutions Act

2122. (Amendment)


Trust and Loan Companies Act

2123. (Amendment)

2124. (Amendment)

2125. (Amendment)


Winding-up and Restructuring Act

2126. (Amendment)

2127. (Amendment)

2128. (Amendment)

2129. (Amendment)

2130. (Amendment)

2131. (Amendment)

2132. (Amendment)

2133. (Amendments)

2134. (Amendment)


Coordinating Amendments

2135. (Amendments)


Coming into Force

Order in council


Part 18. Atomic Energy Of Canada Limited

Reorganization and Divestiture

Definitions

2137. (1) The following definitions apply in this Part.

“AECL”

« Eacl »

“AECL” means Atomic Energy of Canada Limited.

“assets”

« actifs »

“assets” includes

(a) in relation to an entity, the securities of another entity held by, on behalf of or in trust for the entity; and

(b) intangible property.

“Minister”

« ministre »

“Minister” means the Minister of Natural Resources.

“security”

« titre »

“security” means

(a) in relation to a corporation, a share of any class or series of shares or a debt obligation of the corporation, and includes any conversion or exchange privilege, option or other right to acquire a share or debt obligation of the corporation; and

(b) in relation to any other entity, any ownership interest in or debt obligation of the entity and includes any conversion or exchange privilege, option or other right to acquire an ownership interest or debt obligation of the entity.

Interpretation

(2) In this Part “corporation”, “share” and “wholly-owned subsidiary” have the same meaning as in subsection 83(1) of the Financial Administration Act.

Interpretation

(3) Unless a contrary intention appears, words and expressions used in this Part have the same meaning as in the Canada Business Corporations Act.

Inconsistency

(4) In the event of any inconsistency between this Part and the Canada Business Corporations Act or anything issued, made or established under that Act, this Part prevails to the extent of the inconsistency.

Operation of Competition Act

(5) Nothing in, or done under the authority of, this Part affects the operation of the Competition Act in respect of the acquisition of any interest in an entity.

Purpose

2138. The purpose of this Part is to authorize a number of measures for the reorganization and divestiture of all or any part of AECL’s business.

Authority to sell shares, etc.

2139. (1) The Minister may, with the approval of the Governor in Council and on any terms that the Governor in Council considers appropriate,

(a) despite section 11 of the Nuclear Energy Act, sell or otherwise dispose of some or all of the securities of AECL;

(b) procure an addition to, or other material change in, the objects or purposes for which AECL is incorporated or the restrictions on the businesses or activities that it may carry on, as set out in its articles;

(c) procure the amalgamation of AECL; or

(d) procure the dissolution of AECL.

Additional powers

(2) The Minister may do anything or cause anything to be done that is necessary for, or incidental to, a measure approved under subsection (1).

Authority with respect to entities

2140. (1) The Minister may, with the approval of the Governor in Council and on any terms that the Governor in Council considers appropriate,

(a) procure the incorporation of a corporation, securities of which, on incorporation, would be held by, on behalf of or in trust for, Her Majesty in right of Canada and sell or otherwise dispose of some or all of the securities of the corporation;

(b) procure the formation of any other entity, securities of which, on formation, would be held by, on behalf of or in trust for, Her Majesty in right of Canada and sell or otherwise dispose of some or all of the securities of the entity;

(c) acquire securities of a corporation that, on acquisition, would be held by, on behalf of or in trust for, Her Majesty in right of Canada and sell or otherwise dispose of some or all of the securities of the corporation; and

(d) acquire securities of any other entity that, on acquisition, would be held by, on behalf of or in trust for, Her Majesty in right of Canada and sell or otherwise dispose of some or all of the securities of the entity.

Additional powers

(2) The Minister may do anything or cause anything to be done that is necessary for, or incidental to, a measure approved under subsection (1).

Part X of the Financial Administration Act

(3) The Governor in Council may, by order, declare that any of the provisions of Part X of the Financial Administration Act do not apply to a corporation referred to in subsection (1)(a).

Authority

2141. (1) AECL, a corporation referred to in paragraph 2140(1)(a), any other entity referred to in paragraph 2140(1)(b) or any one of their wholly-owned subsidiaries or wholly-owned entities may, with the approval of the Governor in Council and on any terms that the Governor in Council considers appropriate,

(a) sell or otherwise dispose of some or all of its assets;

(b) sell or otherwise dispose of some or all of its liabilities;

(c) issue securities and sell or otherwise dispose of some or all of those securities;

(d) reorganize its capital structure;

(e) acquire assets of a corporation or any other entity;

(f) procure an addition to, or other material change in, the objects or purposes for which it is incorporated or formed or the restrictions on the businesses or activities that it may carry on, as set out in its articles or constituting documents;

(g) procure the incorporation of a corporation, securities of which, on incorporation, would be held by, on behalf of or in trust for, the entity that procures the incorporation;

(h) procure the formation of any other entity, securities of which, on formation, would be held by, on behalf of or in trust for, the entity that procures the formation;

(i) acquire securities of a corporation or any other entity that, on acquisition, would be held by, on behalf of or in trust for, the entity that acquires the securities;

(j) sell or otherwise dispose of some or all of the securities of a corporation or any other entity that are held by, on behalf of or in trust for, the entity that sells or otherwise disposes of the securities;

(k) procure its amalgamation or the amalgamation of any of its wholly-owned subsidiaries;

(l) procure its dissolution or the dissolution of any of its wholly-owned subsidiaries; or

(m) do anything that is necessary for, or incidental to, a measure approved under paragraphs (a) to (l).

Additional powers

(2) The Governor in Council may, on the recommendation of the Minister and on any terms that the Governor in Council considers appropriate, direct AECL, a corporation referred to in paragraph 2140(1)(a) or any other entity referred to in paragraph 2140(1)(b) to take, or cause any of its wholly-owned subsidiaries or wholly-owned entities to take, a measure referred to in subsection (1).

Limitation

(3) The Governor in Council may not issue a directive to AECL, a corporation referred to in paragraph 2140(1)(a) or any other entity referred to in paragraph 2140(1)(b)

(a) after any of its securities are sold or otherwise disposed of; or

(b) with respect to any of its wholly-owned subsidiaries or wholly-owned entities, after the wholly-owned subsidiaries or wholly-owned entities’ securities are sold or otherwise disposed of.

Compliance with directive

(4) The directors of AECL or of the corporation, or persons acting in a similar capacity with respect to the entity, must comply with a directive issued by the Governor in Council. That compliance is in the best interess of AECL, the corporation or the entity, as the case may be, to whom the directive is issued.

Notification of implementation

(5) As soon as is feasible after implementing a directive and completing any actions that are required to be taken in connection with that implementation, AECL, the corporation or the entity must notify the Minister that it has done so.

Non-application of Statutory Instruments Act

2142. The Statutory Instruments Act does not apply to a directive.

Tabling in Parliament

2143. (1) The Minister is to cause a copy of a directive to be laid before each House of Parliament on any of the first 15 days on which that House is sitting after the day on which the directive is issued.

Exception — detrimental information

(2) However, if the Minister is of the opinion that publishing information contained in the directive would be detrimental to Canada’s interests or the commercial interests of AECL or the corporation or other entity to whom the directive is issued, as the case may be, the Minister is to cause a copy of the directive to be laid before each House of Parliament on any of the first 15 days on which that House is sitting after the day on which he or she is notified that the directive has been implemented.

Consultation

(3) The Minister must consult the board of directors of AECL or the corporation, or the person or group of persons acting in a similar capacity for the entity, before forming an opinion whether publishing information contained in the directive would be detrimental.

Application of proceeds of disposition

2144. AECL or a corporation or other entity referred to in subsection 2141(1) must pay the proceeds from the sale or other disposition of any assets, securities or liabilities under that subsection to the Receiver General.

Financial Administration Act

2145. Sections 89, 90 and 91 and subsection 99(2) of the Financial Administration Act do not apply to any measure referred to in sections 2139 to 2141.

Appropriation

2146. On the requisition of the Minister and with the concurrence of the Minister of Finance, there may be paid out of the Consolidated Revenue Fund any amount that is required to carry out a measure referred to in sections 2139 to 2141.


Nuclear Energy Act

2147. (Amendment)


Coming into Force

Order in council


Part 19. Participant Funding Programs

National Energy Board Act

2149. (Amendment)


Nuclear Safety and Control Act

2150. (Amendments)

2151. (Amendments)


Part 20. Environmental Assessment

Canadian Environmental Assessment Act

Amendments to the Act

2152. (Amendment)

2153. (Amendment)

2154. (Amendment)

2155. (Amendment)

2156. (Amendment)

2157. (Amendments)

2158. (Amendment)

2159. (Amendments)

2160. (Amendment)

2161. (Amendment)


Transitional Provisions

2162. (Transitional Provision)

2163. (Transitional Provision)


Exclusion List Regulations, 2007

2164. (Amendment)

2165. (Amendment)

2166. (Amendment)


Regulations Amending the Exclusion List Regulations, 2007

2167. (Amendment)

2168. (Amendment)

2169. (Amendment)

2170. (Amendment)


Infrastructure Projects Environmental Assessment Adaptation Regulations

2171. (Repeal)


Part 21. Canada Labour Code

Amendments to the Act

2172. (Amendment)

2173. (Amendment)

2174. (Amendment)

2175. (Amendment)

2176. (Amendments)

2177. (Amendments)


Transitional Provision

2178. (Transitional Provision)


Coming into Force

Order in council


Part 22. Payments To Certain Entities

Canadian Youth Business Foundation

Maximum payment of $10,000,000

2180. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Industry, a sum not exceeding ten million dollars to the Canadian Youth Business Foundation for its use


Genome Canada

Maximum payment of $75,000,000

2181. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Industry, a sum not exceeding seventy-five million dollars to Genome Canada for its use.


Pathways to Education Canada

Maximum payment of $20,000,000

2182. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Human Resources and Skills Development, a sum not exceeding twenty million dollars to Pathways to Education Canada for its use.


Rick Hansen Foundation

Maximum payment of $13,500,000

2183. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Western Economic Diversification, a sum not exceeding thirteen million, five hundred thousand dollars to the Rick Hansen Foundation for its use.


Part 23. Telecommunications Act

2184. (Amendments)


Part 24. Employment Insurance Financing

Employment Insurance Act

Amendments to the Act

2185. (Amendment)

2186. (Amendment)

2187. (Amendment)

2188. (Amendment)

2189. (Amendment)

2190. (Amendment)

2191. (Amendment)

2192. (Amendment)

2193. (Amendment)

2194. (Amendment)


Transitional Provisions

2195. (Transitional Provision)

2196. (Transitional Provision)

2197. (Transitional Provision)

2198. (Transitional Provision)

2199. (Transitional Provision)

2200. (Transitional Provision)


Consequential Amendments

Department of Human Resources and Skills Development Act

2201. (Amendment)


Employment Insurance Regulations

2202. (Amendment)

2203. (Amendment)


Budget Implementation Act, 2008

2204. (Amendments)

2205. (Amendment)

2206. (Amendment)


Canada Employment Insurance Financing Board Act

2207. (Amendment)


Coming into Force

January 1, 2009

2008, c. 28

(2) Section 2188 comes into force on the day on which section 127 of the Budget Implementation Act, 2008 comes into force.

Schedule 1

(Section 1642)

(Amendments)

Schedule 2

(Section 1644)

(Amendments)

Schedule 3

(Section 2161)

(Amendment)


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