COVID-19 Emergency Response Act (S.C. 2020, c. 5)
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Assented to 2020-03-25
PART 8R.S., c. F-11Financial Administration Act (continued)
Amendments to the Act (continued)
28 The Act is amended by adding the following after section 60.2:
Marginal note: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, 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.
Marginal note: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.
Marginal note:Application of Part X
(3) Subject to any regulations made under subsection (4), Part X does not apply to the corporation.
Marginal note: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.
Marginal note:Directives
(5) The Minister may give a directive to the corporation.
Marginal note:Implementation
(6) The directors of the corporation shall ensure that a directive is implemented in a prompt and efficient manner.
Marginal note:Best interests
(7) Compliance by the corporation with a directive is deemed to be in the best interests of the corporation.
Marginal note:Terms and conditions
(8) The Minister may, by order, establish terms and conditions in accordance with which the corporation shall enter into financial transactions.
Marginal note:Contract with Her Majesty
(9) The corporation may enter into a contract with Her Majesty in right of Canada.
Marginal note: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.
Marginal note: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.
Marginal note: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.
Marginal note: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).
Marginal note: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.
Marginal note: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, with the Governor in Council’s authorization, establish an entity, other than a corporation, on any terms and conditions that the Minister considers appropriate.
Marginal note: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.
Marginal note: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.
2017, c. 20, s. 103Related Amendments to the Borrowing Authority Act
29 Section 5 of the Borrowing Authority Act is amended by striking out “and” at the end of paragraph (a) and by replacing paragraph (b) with the following:
(b) amounts borrowed by the Minister under an order made under paragraph 46.1(a) of that Act for the payment of any amount in respect of a debt that was originally incurred under
(c) amounts borrowed by the Minister under paragraph 47(b) of that Act; and
(d) amounts borrowed by the Minister under paragraph 47(a) of that Act for the payment of any amount in respect of a debt that was originally incurred under paragraph 47(b) of that Act.
30 Section 6 of the Act is replaced by the following:
Marginal note:Exception — maximum amount exceeded
6 The Minister may borrow an amount under an order made under paragraph 46.1(a) or (b) of the Financial Administration Act or an amount under paragraph 47(a) of that Act even if that borrowing causes the maximum amount referred to in section 4 of this Act to be exceeded.
31 Subsection 8(1) of the Act is amended by striking out “and” at the end of paragraph (b) and by adding the following after that paragraph:
(b.1) the total amount of money borrowed under each of paragraphs 47(a) and (b) of that Act; and
R.S., c. C-3Consequential Amendment to the Canada Deposit Insurance Corporation Act
32 The portion of subsection 10.1(3) of the Canada Deposit Insurance Corporation Act before paragraph (a) is replaced by the following:
Marginal note:Total indebtedness
(3) The total principal indebtedness outstanding at any time in respect of borrowings by the Corporation under subsections (1) and (2), excluding the borrowings under subparagraph 60.2(2)(a)(iii) of the Financial Administration Act, shall not exceed
PART 9R.S., c. F-27Food and Drugs Act
Amendments to the Act
33 (1) Subsection 30(1) of the Food and Drugs Act is amended by adding the following after paragraph (k.1):
(k.2) requiring persons to provide information to the Minister in respect of food, drugs, cosmetics or devices — or in respect of activities related to food, drugs, cosmetics or devices — in circumstances other than those provided for in this Act and authorizing the Minister to determine the information to be provided and the time and manner in which it is to be provided;
(2) Paragraph 30(1)(k.2) of the Act is repealed.
(3) Section 30 of the Act is amended by adding the following after subsection (1.3):
Marginal note:Regulations — preventing or alleviating shortages
(1.4) Without limiting the power conferred by any other subsection of this section, the Governor in Council may make any regulations that the Governor in Council considers necessary for the purpose of preventing shortages of therapeutic products in Canada or alleviating those shortages or their effects, in order to protect human health.
(4) Subsection 30(1.4) of the Act is repealed.
34 (1) Subsection 37(1.2) of the Act is replaced by the following:
Marginal note:Exception — regulations
(1.2) Despite subsection (1), any prescribed provision of the regulations applies to any food, drug, cosmetic or device.
(2) Subsection 37(1.2) of the Act is replaced by the following:
Marginal note:Exception — regulations
(1.2) Despite subsection (1), any prescribed provision of the regulations respecting the method of manufacture, preparation, preserving, packaging, storing and testing of any food, drug, cosmetic or device applies to any packaged food, drug, cosmetic or device.
Coming into Force
Marginal note:October 1, 2020
35 Subsections 33(2) and (4) and 34(2) come into force on October 1, 2020.
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