Bank of Canada Act (R.S.C., 1985, c. B-2)

Act current to 2013-05-20 and last amended on 2012-12-19. Previous Versions

RETURNS

Marginal note:Weekly financial information

  • 29. (1) The Bank shall, as soon as practicable after the last business day of each week, post on its website financial information about its assets and liabilities.

  • Marginal note:Monthly balance sheet

    (2) The Bank shall, as soon as practicable after the last business day of each month, post on its website its balance sheet as at the close of business on that day. The balance sheet shall set out information regarding the Bank’s investments in securities issued or guaranteed by the Government of Canada.

  • R.S., 1985, c. B-2, s. 29;
  • 1997, c. 15, s. 104;
  • 2001, c. 9, s. 199;
  • 2007, c. 6, s. 397;
  • 2012, c. 5, s. 184.
Previous Version
Marginal note:Fiscal year

  • 30. (1) The fiscal year of the Bank shall be the calendar year.

  • Marginal note:Financial statements to Minister

    (2) Within two months after the end of each financial year, the Bank shall send to the Minister its audited financial statements for the financial year, in the form prescribed by the by-laws of the Bank.

  • Marginal note:Signing of statements

    (2.1) The financial statements must be signed by the Governor or the Deputy Governor and the Chief Accountant or Acting Chief Accountant of the Bank.

  • Marginal note:Other information

    (2.2) The financial statements must be accompanied by any summary or report by the Governor that the Governor considers desirable or that is required by the Minister. A copy of the signed and audited financial statements must without delay be published in the Canada Gazette.

  • Marginal note:Report to Parliament

    (3) The Minister shall lay the copy of the accounts and Governor’s report mentioned in subsection (2) before Parliament on any of the first twenty-one days that either House of Parliament is sitting after the Minister receives it.

  • R.S., 1985, c. B-2, s. 30;
  • 1997, c. 15, s. 105.

LIABILITY

Marginal note:No liability if in good faith

30.1 No action lies against Her Majesty, the Minister, any officer, employee or director of the Bank or any person acting under the direction of the Governor for anything done or omitted to be done in good faith in the administration or discharge of any powers or duties that under this Act are intended or authorized to be executed or performed.

  • 2001, c. 9, s. 200.

OFFENCES AND PUNISHMENT

Marginal note:Holding office when ineligible

31. Every person who holds office or continues to hold office as the Governor or as a Deputy Governor or director of the Bank, knowing that he or she is not eligible for that office, is guilty of an offence and liable on summary conviction to a fine of not more than one hundred thousand dollars or to imprisonment for a term of not more than six months or to both.

  • R.S., 1985, c. B-2, s. 31;
  • 2001, c. 9, s. 201.