• Marginal note:Regulations

  (6) The Governor in Council may, on the recommendation of the Minister of Finance, make regulations respecting the designation of approved lenders, including regulations establishing criteria that a person must meet in order to be so designated.

Marginal note:Regulations — Minister of Finance

• 8.1 (1) The Minister of Finance may, after consulting the Governor of the Bank of Canada and the Superintendent of Financial Institutions appointed under the Office of the Superintendent of Financial Institutions Act, make regulations respecting classes of housing loans and criteria to be met by loans in each of those classes in order for the Corporation to be able to provide insurance against risks relating to those loans.

• Marginal note:Coming into force

  (2) A regulation made under this section comes into force on the day on which it is published in the Canada Gazette or on any later day that is specified in the regulation unless the regulation provides otherwise and it gives effect to a budgetary or other public announcement, in which case the regulation must not come into force before the day on which the announcement was made.

Marginal note:Fees for risk exposure

8.2 The Minister of Finance may fix a fee to be paid by the Corporation to the Receiver General to compensate Her Majesty for Her exposure to the risks covered by Her agent the Corporation arising from the insurance relating to housing loans. That Minister shall notify the Corporation in writing of the fee.

Marginal note:Obligation to retain information, books and records

• 21.1 (1) The Corporation shall keep and retain books and records and retain information in respect of its business that are relevant for the purposes of this Part or that are prescribed.

• Marginal note:Obligation to provide information or copies

  (2) At the request of the Minister of Finance, the Corporation shall, without delay, provide that Minister with any information or copies of any books or records that it is required to retain.

• Marginal note:Power to disclose

  (3) The Minister of Finance may disclose to the Superintendent of Financial Institutions appointed under the Office of the Superintendent of Financial Institutions Act, the Governor of the Bank of Canada, the Chairperson of the Canada Deposit Insurance Corporation and the Commissioner of the Financial Consumer Agency of Canada any information or copies of any books or records received under subsection (2).

• Marginal note:Public information

  (4) The Corporation shall make available to the public prescribed books, records and information that are relevant for the purposes of this Part.

• Marginal note:Regulations

  (5) The Governor in Council may, on the recommendation of the Minister of Finance, make regulations prescribing the manner in which books and records are to be kept and retained, the manner in which information is to be retained and the manner in which books, records and information are to be made available to the public.

Marginal note:Superintendent to ascertain expenses

• 23. (1) The Superintendent shall, before December 31 in each year, ascertain the total amount of expenses incurred during the immediately preceding fiscal year for or in connection with the administration of the Bank Act, the Cooperative Credit Associations Act, the Green Shield Canada Act, the Insurance Companies Act, the Protection of Residential Mortgage or Hypothecary Insurance Act and the Trust and Loan Companies Act.

• Marginal note:Additional fiscal equalization payment — 2011-2012 fiscal year

  (2) An additional fiscal equalization payment may be paid for the fiscal year beginning on April 1, 2011 equal to,

  • (a) for Quebec, $368,932,000;

  • (b) for Nova Scotia, $157,591,000;

  • (c) for New Brunswick, $149,776,000; and

  • (d) for Manitoba, $275,808,000.

PART I.01OTHER PAYMENTS

Marginal note:Payments — Ontario and Prince Edward Island

• 3.98 (1) There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister, the following sums for the fiscal year beginning April 1, 2011:

  • (a) to Ontario, $150,365,000; and

  • (b) to Prince Edward Island, $1,089,000.

• Marginal note:Recovery

  (2) If the Minister has made a payment to a province under subsection (1), he or she shall reduce, by an amount equal to 1/10 of that payment, the fiscal equalization payments to that province for each of the fiscal years in the period beginning on April 1, 2012 and ending on March 31, 2022. If, for one of those fiscal years, it is not possible to reduce the fiscal equalization payment by that entire amount, he or she may recover the amount remaining as a debt due to Her Majesty in right of Canada out of any sum of money that may be due or payable by Her Majesty in right of Canada to that province under this Act for that fiscal year.

• Marginal note:Exception

  (6) Despite subsection (4), for the purposes of determining the amount under subsection (1) for a fiscal year, the payment under section 3.12 and the additional cash payment under section 24.703 are not included in the province’s non-natural resource revenue for the preceding fiscal year.

Marginal note:Definitions

236.1 The following definitions apply in sections 237 to 237.2.

Marginal note:Distribution prohibited

• 237.2 (1) A mutual company shall not take any action or series of actions directed toward the distribution of all or part of its property to its policyholders or shareholders or the provision of any other benefit to its policyholders or shareholders, other than as provided in subsections 237(1) to (1.2), until a conversion proposal has been approved by the Minister under subsection 237(1).

• Marginal note:Exception

  (2) Nothing in subsection (1) prevents

  • (a) the directors of the company from declaring a dividend on shares or a policy dividend, bonus or other benefit payable to policyholders in the ordinary course of business; or

  • (b) the company from paying or otherwise satisfying a dividend, bonus or other benefit referred to in paragraph (a).

• Marginal note:Non-application

  (3) This section does not apply to a company that is insolvent within the meaning of the Winding-up and Restructuring Act.

• (e) the aggregate of

  • (i) the total amount of net premiums received in Canada during the immediately preceding calendar year by each company, society and provincial company to which the Insurance Companies Act applies,

  • (ii) an amount equal to 25 per cent of net premiums received outside Canada during the immediately preceding calendar year by each company, society and provincial company to which the Insurance Companies Act applies, and

  • (iii) in the case of a life company or a society, an amount equal to 25 per cent of net premiums received outside Canada during the immediately preceding calendar year by each of its subsidiaries that is engaged in the business of insurance outside Canada; and

Marginal note:Internal support services

• 29.2 (1) A department may provide internal support services to and receive internal support services from one or more other departments, and the provision of those services may be through collaboration among departments.

• Marginal note:Written agreement

  (2) Any department providing internal support services to another department must enter into an agreement in writing with that department respecting those services.

• Marginal note:Exception

  (3) Subsection (1) does not authorize a department to provide internal support services if, under an Act of Parliament, order of the Governor in Council or direction of Treasury Board,

  • (a) those services may only be provided by another department or body;

  • (b) departments must obtain those services from another department or body; or

  • (c) it is precluded from doing so.

• Definition of “internal support services”

  (4) In this section, “internal support services” means administrative activities that support

  • (a) human resources management services;

  • (b) financial management services;

  • (c) information management services;

  • (d) information technology services;

  • (e) communications services;

  • (f) real property services;

  • (g) materiel services;

  • (h) acquisition services; or

  • (i) any other administrative service that is designated by order of the Governor in Council.

Marginal note:Credits transferred

31.1 If an order is made under section 2 of the Public Service Rearrangement and Transfer of Duties Act, all of the unexpended money authorized by an Act of Parliament to be paid and applied for the purposes of any power, duty or function or control or supervision of a portion of the federal public administration that is transferred as a result of the operation of sections 2 and 3 of that Act is deemed to have been appropriated for the purposes of the power, duty, function, control or supervision to the department in, or portion of, the federal public administration to which it has been transferred.

“authorized representative”

« représentant autorisé »

“authorized representative” means

• (a) in respect of a Canadian vessel, the person referred to in subsection 14(1);

• (b) in respect of a fleet registered under Part 2, the person referred to in subsection 75.03(5); and

• (c) in respect of a foreign vessel, the master.

“Canadian vessel”

« bâtiment canadien »

“Canadian vessel” means a vessel that is registered or listed under Part 2 (Registration, Listing and Recording) or that is exempted under the regulations from the registration requirement in subsection 46(1).

• Marginal note:Records

  (2) The Register is to contain records of the information and documents specified by the Chief Registrar in respect of a Canadian vessel or a fleet that is registered under this Part, including its description, its official number, the name and address of its owner and, in the case of a vessel that is not registered in the small vessel register, details of all mortgages registered in respect of it.

• (a.1) a vessel that is exempted under the regulations from the registration requirement in subsection 46(1) and that is wholly owned by qualified persons;

• Marginal note:Avis des modifications

  (2) Si un bâtiment canadien est modifié au point de n’être plus conforme à la description qui en est faite au certificat d’immatriculation ou aux détails qui y sont indiqués, le représentant autorisé en avise le registraire en chef au plus tard trente jours après la modification et lui fournit les renseignements et documents utiles.

Fleets

Marginal note:Application for fleet

• 75.01 (1) An applicant may, instead of applying to have vessels individually registered in the small vessel register, apply to register a group of two or more vessels as a fleet in that register.

• Marginal note:Form and manner

  (2) The application must be made in the form and manner, include the information and be accompanied by the documents specified by the Chief Registrar.

• Marginal note:Further evidence

  (3) In addition to the specified information and documents, the Chief Registrar may require an applicant to provide evidence, including declarations, that the Chief Registrar considers necessary to establish that the group of vessels may be registered as a fleet.

Marginal note:Registration — fleet

• 75.02 (1) The Chief Registrar may register a group of two or more vessels as a fleet if he or she is satisfied that

  • (a) all of the vessels are owned by the same owner;

  • (b) each vessel meets the requirements for registration in the small vessel register; and

  • (c) each vessel meets any other requirement — including with respect to a vessel’s dimensions, usage or propulsion — that the Chief Registrar may establish for the vessels of a fleet.

• Marginal note:Small vessel register

  (2) A fleet that is accepted for registration must be registered in the small vessel register.

Marginal note:Certificate of registry

• 75.03 (1) The Chief Registrar must issue a certificate of registry in respect of a fleet that he or she registers, and the certificate is valid for the period that he or she specifies.

• Marginal note:Information

  (2) A certificate of registry in respect of a fleet must contain the information specified by the Chief Registrar, including

  • (a) a description of the fleet;

  • (b) the fleet’s official number; and

  • (c) the name and address of the owner and the authorized representative of the fleet.

• Marginal note:Description — number of vessels

  (3) In the fleet’s description, the Chief Registrar must specify either the number of vessels that are to be part of the fleet or the minimum and maximum numbers of vessels that can be part of it.

• Marginal note:Official number

  (4) The fleet’s official number is also the official number of each vessel of that fleet.

• Marginal note:Authorized representative of fleet

  (5) The authorized representative of a fleet is the authorized representative, as determined under section 14, of the vessels of that fleet.

• Marginal note:More than one owner

  (6) If subsection 14(3) applies to the vessels of a fleet, the owners must appoint, under that subsection, one of themselves to be the authorized representative of all of the fleet’s vessels.

• Marginal note:Acts or omissions of authorized representative binding

  (7) The owner of a fleet is bound by the acts or omissions of the authorized representative of the fleet with respect to all matters assigned by this Act to that representative.

Marginal note:Addition or removal of vessels

75.04 Subject to subsection 75.1(2), an owner of a fleet may, after the fleet is registered, add a vessel to the fleet or remove a vessel from it. However, any vessel that is to be added must

• (a) be owned by the same owner as all of the other vessels of the fleet;

• (b) satisfy the conditions set out in paragraphs 75.02(1)(b) and (c); and

• (c) fit within the description or particulars set out in the fleet’s certificate of registry.

Marginal note:Vessels registered

• 75.05 (1) Subject to subsection (2), a vessel that is or becomes part of a fleet is considered to be registered under this Part and, for greater certainty, is a Canadian vessel.

• Marginal note:No longer registered

  (2) Unless it becomes part of another fleet, such a vessel ceases to be registered under this Part if

  • (a) there is a change in its ownership; or

  • (b) it is altered to the extent that it no longer fits within the description or particulars set out in the fleet’s certificate of registry.

Marginal note:Cancellation of individual registration

75.06 The Chief Registrar may cancel the registration of a Canadian vessel if the vessel becomes part of a fleet.

Marginal note:Non-application of provisions

75.07 The following provisions do not apply in respect of a fleet or a vessel of a fleet:

• (a) subsections 57(2) and (3);

• (b) section 58;

• (c) section 60;

• (d) section 62;

• (e) subsections 63(1) and (2);

• (f) section 73.

Marginal note:For greater certainty

• 75.08 (1) For greater certainty, the following provisions apply in respect of a fleet or a vessel of a fleet:

  • (a) section 56;

  • (b) subsections 57(1) and (4);

  • (c) subsections 63(3) and (4).

• Marginal note:Section 59

  (2) Section 59 applies in respect of a fleet, except that the reference to “section 58” is to be read as a reference to “section 75.1”.

Marginal note:Marking — validity of fleet’s certificate of registry

• 75.09 (1) A fleet’s certificate of registry is not valid unless each of the fleet’s vessels has been marked in accordance with subsection 57(1).

• Marginal note:Maintenance of markings

  (2) The authorized representative of a fleet shall ensure that each of the fleet’s vessels is kept marked.

Marginal note:Notification of changes — name and address

• 75.1 (1) The authorized representative of a fleet shall notify the Chief Registrar within 30 days after there has been a change in the owner’s or authorized representative’s name or address.

• Marginal note:Notification of changes — number of vessels

  (2) If the number of vessels in a fleet changes to the extent that the fleet no longer corresponds with its description set out on the certificate of registry, its authorized representative shall, within 30 days after the change in number, notify the Chief Registrar and provide him or her with the relevant information and documents.

• Marginal note:Notification of changes — owner

  (3) If for any reason a fleet does not have an authorized representative, its owner shall

  • (a) notify the Chief Registrar of that fact as soon as possible in the circumstances; and

  • (b) notify the Chief Registrar within 30 days after any event referred to in subsection (1) or (2) occurs.

Marginal note:Suspension and cancellation

• 75.11 (1) Subject to the regulations, the Chief Registrar may suspend or cancel the registration of a fleet if

  • (a) any one of the fleet’s vessels is not marked in accordance with subsection 57(1);

  • (b) the fleet’s certificate of registry has expired;

  • (c) the fleet does not have an authorized representative; or

  • (d) section 75.1 has not been complied with.

• Marginal note:Cancellation — fleet

  (2) Subject to the regulations, the Chief Registrar must cancel the registration of a fleet if it no longer qualifies for registration under this Part.

• Marginal note:Evidence

  (3) The Chief Registrar must cancel the registration of a fleet if a person who acquires the fleet does not, within the prescribed period, provide evidence that satisfies the Chief Registrar that the fleet still qualifies for registration under this Part.

Marginal note:Reinstatement

75.12 The Chief Registrar may reinstate the registration of a fleet if, in his or her opinion, the registration of the fleet should not have been cancelled.

Marginal note:Delivery of certificate

75.13 A person who is in possession of a fleet’s certificate of registry shall deliver it to the person who is entitled to operate the fleet.

Marginal note:Change of ownership

75.14 If the ownership of a fleet changes and the fleet still qualifies to be registered under this Part,

• (a) the owner must provide the Chief Registrar with the evidence, including declarations, that the Chief Registrar considers necessary to establish that the fleet still qualifies to be so registered; and

• (b) the Chief Registrar must amend the Register and the certificate of registry to reflect the change.

Entries

Marginal note:Copies of entries

76. A person may examine or obtain copies of any entries in the Register with respect to a vessel or fleet.