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Budget 2025 Implementation Act, No. 1 (S.C. 2026, c. 3)

Act current to 2026-03-31

Table of Contents

Budget 2025 Implementation Act, No. 1

S.C. 2026, c. 3

Assented to 2026-03-26

An Act to implement certain provisions of the budget tabled in Parliament on November 4, 2025

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

Short Title

Marginal note:Short title

 This Act may be cited as the Budget 2025 Implementation Act, No. 1.

PART 1Amendments to the Income Tax Act and Other Legislation

R.S., c. 1 (5th Supp.)Income Tax Act

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R.S., c. E-15Excise Tax Act

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C.R.C., c. 945Income Tax Regulations

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Payment out of Consolidated Revenue Fund

Marginal note:Payment out of Consolidated Revenue Fund

 Any amount payable by the Minister of National Revenue in relation to the application of subsection 127.491(2) of the Income Tax Act is to be paid out of the Consolidated Revenue Fund.

Coordinating Amendments

Marginal note:Bill C-4

 If Bill C-4, introduced in the 1st session of the 45th Parliament and entitled the Making Life More Affordable for Canadians Act, receives royal assent, then

  • (a) [Amendments]

  • (b) [Amendments]

  • (c) [Amendments]

  • (d) [Amendments]

  • (e) [Amendments]

  • (f) [Amendments]

PART 2Digital Services Tax (Repeals and Other Measures)

Repeals

Marginal note:Repeal

  •  (1) The Digital Services Tax Act, section 96 of chapter 15 of the Statutes of Canada, 2024, is repealed.

  • (2) Subsection (1) is deemed to have come into force on June 20, 2024.

Marginal note:Repeal

  •  (1) The Digital Services Tax Regulations, section 97 of chapter 15 of the Statutes of Canada, 2024, are repealed.

  • (2) Subsection (1) is deemed to have come into force on June 20, 2024.

Transitional Provisions

  •  (1) If a person has, before the day on which this Act receives royal assent, paid an amount to His Majesty in right of Canada and the amount, in the absence of section 126, would have been taken into account by His Majesty in right of Canada as tax, a penalty, interest or other amount under the Digital Services Tax Act, the Minister of National Revenue must refund to the person the amount, together with interest on the amount at the rate determined under paragraph 2(1)(a) of the Interest Rates (Excise Act, 2001) Regulations, for the period beginning on the day on which the amount was received by the Receiver General for Canada and ending on the day on which the refund is paid.

  • (2) Any refund payable by the Minister of National Revenue under subsection (1) is to be paid out of the Consolidated Revenue Fund.

Consequential Amendments

R.S., c. A-1Access to Information Act

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R.S., c. B-3; 1992, c. 27, s. 2Bankruptcy and Insolvency Act

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R.S., c. C-46Criminal Code

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R.S., c. E-15Excise Tax Act

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R.S., c. E-20; 2001, c. 33, s. 2(F)Export Development Act

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R.S., c. F-11Financial Administration Act

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R.S., c. T-2Tax Court of Canada Act

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R.S., c. 1 (5th Supp.)Income Tax Act

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1999, c. 17; 2005, c. 38, s. 35Canada Revenue Agency Act

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2002, c. 9, s. 5Air Travellers Security Charge Act

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2002, c. 22Excise Act, 2001

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2022, c. 5, s. 10Underused Housing Tax Act

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2022, c. 10, s. 135Select Luxury Items Tax Act

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2024, c. 17, s. 81Global Minimum Tax Act

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PART 3Amendments to the Excise Tax Act (GST/HST), the Underused Housing Tax Act, the Select Luxury Items Tax Act and Other Related Texts

DIVISION 1GST/HST Measures

R.S., c. E-15Excise Tax Act

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SOR/2024-157Real Property (GST/HST) Regulations

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DIVISION 2Underused Housing Tax Measures

2022, c. 5, s. 10Underused Housing Tax Act

Amendments to the Act

 [Amendments]

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Repeals

Marginal note:Repeal

  • The following provision is not in force.

     (1) The Underused Housing Tax Act, section 10 of chapter 5 of the Statutes of Canada, 2022, is repealed.

  • (2) Subsection (1) comes into force on January 1, 2035.

Marginal note:Repeal

  • The following provision is not in force.

     (1) The Underused Housing Tax Regulations, section 116 of chapter 19 of the Statutes of Canada, 2022, are repealed.

  • (2) Subsection (1) comes into force on January 1, 2035.

DIVISION 3Select Luxury Items Tax Measures

2022, c. 10, s. 135Select Luxury Items Tax Act

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Select Luxury Items Tax Regulations

Making of Regulations

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Coming into Force

Marginal note:September 1, 2022

PART 42003, c. 15, s. 67First Nations Goods and Services Tax Act

Amendments to the Act

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Consequential Amendments

R.S., c. E-15Excise Tax Act

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R.S., c. F-8; 1995, c. 17, s. 45(1)Federal-Provincial Fiscal Arrangements Act

 [Amendments]

PART 5Various Measures

DIVISION 1High-Speed Rail Network Act

Enactment of Act

 [Amendments]

Amendment to the Act

The following provision is not in force.

 [Amendments]

R.S., c. A-1Consequential Amendment to the Access to Information Act

 [Amendments]

Coming into Force

Marginal note:Order in council

Footnote * Section 192 comes into force on a day to be fixed by order of the Governor in Council.

DIVISION 2R.S., c. C-10Canada Post Corporation Act

Amendments to the Act

The following provision is not in force.

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The following provision is not in force.

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The following provision is not in force.

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The following provision is not in force.

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Coming into Force

Marginal note:Order in council

Footnote * This Division comes into force on a day to be fixed by order of the Governor in Council.

DIVISION 3Build Canada Homes

Marginal note:Consolidated Revenue Fund — Build Canada Homes

 The Minister of Housing, with the concurrence of the Minister of Finance, may make payments out of the Consolidated Revenue Fund in an aggregate amount not exceeding $11.5 billion, or any other amount that is specified in an appropriation Act or any other Act of Parliament, to fund the operations and activities of the portion of the federal public administration known as Build Canada Homes or of any other entity designated by the Governor in Council on the recommendation of the Minister of Housing.

Marginal note:Consolidated Revenue Fund — Canada Lands Company Limited

  •  (1) The Minister of Housing may make payments out of the Consolidated Revenue Fund in an aggregate amount not exceeding $1.515 billion, or any other amount that is specified in an appropriation Act or any other Act of Parliament, to

    • (a) make a contribution of capital to Canada Lands Company Limited or purchase shares in Canada Lands Company Limited on behalf of His Majesty; or

    • (b) fund the operations and activities of any entity designated by the Governor in Council on the recommendation of the Minister of Housing.

  • Marginal note:Contracts

    (2) For the purposes of paragraph (1)(a), Canada Lands Company Limited may enter into contracts with His Majesty as though it were not an agent of His Majesty.

DIVISION 4 2017, c. 20, s. 403Canada Infrastructure Bank Act

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DIVISION 52015, c. 12Red Tape Reduction Act

Amendments to the Act

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Coordinating Amendments

Marginal note:2018, c. 12

  •  (1) [Amendments]

  • (2) [Amendments]

  • (3) [Amendments]

DIVISION 6R.S., c. P-36Public Service Superannuation Act (Operational Service)

Amendments to the Act

The following provision is not in force.

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The following provision is not in force.

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Coming into Force

Marginal note:Order in council

Footnote * This Division comes into force on a day to be fixed by order of the Governor in Council.

DIVISION 7R.‍S.‍, c. P-36Public Service Superannuation Act (Workforce Reduction)

Amendments to the Act

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The following provision is not in force.

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C.R.C., c. 945Related Amendment to the Income Tax Regulations

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Coming into Force

Marginal note:January 15, 2026 or royal assent

  •  (1) Sections 217 to 219 and 221 come into force on the later of the day on which this Act receives royal assent and January 15, 2026.

  • Marginal note:121st day after the coming into force of section 217

    (2) Section 220 comes into force on the 121st day after the day on which section 217 comes into force.

DIVISION 81993, c. 14; 2001, c. 22, s. 2Farm Credit Canada Act

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DIVISION 9Consumer-Driven Banking

Consumer-Driven Banking Act

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Related Amendments

R.S., c. A-1Access to Information Act

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2001, c. 9Financial Consumer Agency of Canada Act

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2024, c. 17Budget Implementation Act, 2024, No. 1

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Repeal

Marginal note:Repeal

 The Consumer-Driven Banking Act, section 198 of chapter 17 of the Statutes of Canada, 2024, is repealed.

DIVISION 10Legislation Related to Financial Institutions (Sunset Provisions)

1991, c. 45Trust and Loan Companies Act

 [Amendments]

1991, c. 46Bank Act

 [Amendments]

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1991, c. 47Insurance Companies Act

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DIVISION 11Legislation Related to Financial Institutions (Modernizing Limits on Borrowing, Loans and Investments)

1991, c. 45Trust and Loan Companies Act

The following provision is not in force.

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The following provision is not in force.

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1991, c. 46Bank Act

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1991, c. 47Insurance Companies Act

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Coming into Force

Marginal note:Order in council

Footnote * The provisions of this Division come into force on a day or days to be fixed by order of the Governor in Council.

DIVISION 12Legislation Related to Financial Institutions (Electronic Delivery of Governance Documents)

1991, c. 46Bank Act

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1991, c. 45Trust and Loan Companies Act

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1991, c. 47Insurance Companies Act

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DIVISION 13Legislation Related to Financial Institutions (Equity Threshold Related to Public Holding Requirement)

 [Amendments]

DIVISION 14Legislation Related to Financial Institutions (Powers of the Superintendent of Financial Institutions)

1991, c. 45Trust and Loan Companies Act

 [Amendments]

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1991, c. 46Bank Act

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1991, c. 47Insurance Companies Act

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R.S., c. 18 (3rd Supp.), Part IOffice of the Superintendent of Financial Institutions Act

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DIVISION 151991, c. 46Bank Act (Funds Deposited by Cheque)

Amendment to the Act

The following provision is not in force.

 [Amendments]

Coming into Force

Marginal note:Order in council

Footnote * This Division comes into force on a day to be fixed by order of the Governor in Council.

DIVISION 161991, c. 46Bank Act (Consumer-targeted Fraud)

Amendments to the Act

The following provision is not in force.

 [Amendments]

The following provision is not in force.

 [Amendments]

The following provision is not in force.

 [Amendments]

Coming into Force

Marginal note:Order in council

Footnote * This Division comes into force on a day to be fixed by order of the Governor in Council.

DIVISION 17Supporting Federal Credit Union Growth

R.S., c. C-3Canada Deposit Insurance Corporation Act

 [Amendments]

The following provision is not in force.

 [Amendments]

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1991, c. 46Bank Act

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The following provision is not in force.

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The following provision is not in force.

 [Amendments]

2001, c. 9Financial Consumer Agency of Canada Act

 [Amendments]

Coming into Force

Marginal note:Order in council

Footnote * The provisions of this Division, other than section 337, subsection 339(1) and sections 340, 343, 344, 348, 349 and 351, come into force on a day or days to be fixed by order of the Governor in Council.

  • Return to footnote *[Note: Division 17, other than section 337, subsection 339(1) and sections 340, 343, 344, 348, 349 and 351, not in force.]

DIVISION 181992, c. 17Special Economic Measures Act

Amendments to the Act

 [Amendments]

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Transitional Provision

Marginal note:Profits realized before coming into force

 A regulation or order may be made under Part 2 of the Special Economic Measures Act with respect to any profits referred to in that Part that are realized before the day on which this section comes into force only if the profits are realized from property that is owned — or held or controlled, directly or indirectly — by Russia, as defined in section 1 of the Special Economic Measures (Russia) Regulations, or by a person who is identified in those Regulations.

2000, c. 17; 2001, c. 41, s. 48Related and Consequential Amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act

 [Amendments]

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DIVISION 19Basic Pension and Accommodation and Meals Charge

R.S., c. P-6Pension Act

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R.S., c. R-11Royal Canadian Mounted Police Superannuation Act

 [Amendments]

R.S., c. V-1; 2000, c. 34, s. 95(F)Department of Veterans Affairs Act

 [Amendments]

SOR/90-594Veterans Health Care Regulations

 For the period beginning on April 1, 1993 and ending on July 15, 1998, the term “province” in paragraph 20(5)(a), subparagraph 20(6)(b)(i) and paragraphs 23(5)(a) and (6)(a) of the Veterans Health Care Regulations is deemed to have referred only to Ontario, Quebec, Nova Scotia, New Brunswick, Manitoba, British Columbia, Prince Edward Island, Saskatchewan, Alberta or Newfoundland and Labrador.

 [Amendments]

Coming into Force

Marginal note:January 2, 2026 or royal assent

  •  (1) Sections 363 to 370 come into force on the later of January 2, 2026 and the day on which this Act receives royal assent.

  • Marginal note:July 15, 1998

    (2) Section 374 is deemed to have come into force on July 15, 1998.

DIVISION 20Earnings Loss Benefit

SOR/2006-50; SOR/2017-161, s. 1Veterans Well-being Regulations

 [Amendments]

 [Amendments]

Regulations

Marginal note:Regulations — earnings loss benefit

  •  (1) The Governor in Council may make regulations respecting the earnings loss benefit under the Veterans Well-being Act, as it read from time to time before April 1, 2019.

  • Marginal note:Retroactive effect

    (2) Regulations made under subsection (1) may, if they so provide, have retroactive effect.

Coming into Force

Marginal note:April 1, 2006

  •  (1) Subsections 376(1) and 377(1) and (3) are deemed to have come into force on April 1, 2006.

  • Marginal note:October 3, 2011

    (2) Subsection 376(2) is deemed to have come into force on October 3, 2011.

  • Marginal note:April 1, 2015

    (3) Subsection 376(3) is deemed to have come into force on April 1, 2015.

  • Marginal note:April 1, 2019

    (4) Subsections 376(4) and 377(2) and (4) are deemed to have come into force on April 1, 2019.

DIVISION 21R.S., c. R-11Royal Canadian Mounted Police Superannuation Act

Amendments to the Act

 [Amendments]

 [Amendments]

Related Provisions

Marginal note:Definitions

 The following definitions apply in sections 383 and 384.

Act

Act means the Royal Canadian Mounted Police Superannuation Act. (Loi)

coming-into-force day

coming-into-force day means the day on which this Act receives royal assent. (date d’entrée en vigueur)

Marginal note:Retroactive authorization — claims

 The Minister of Veterans Affairs is retroactively authorized to deal with and determine all claims for an award that were made under Part II of the Act before the coming-into-force day.

Marginal note:Retroactive authorization — disclosure

 Any disclosure of information that occurred before the coming-into-force day and that would be authorized under section 32.3 of the Act if it occurred on or after that day is retroactively authorized.

Marginal note:For greater certainty

 For greater certainty, on the first day on which both this Division and section 112 of the Public Complaints and Review Commission Act are in force, that section 112 operates so as to replace every reference to “Force” with a reference to “RCMP” in the English version of the provisions enacted by this Division.

DIVISION 22Canada Development Investment Corporation Act

Enactment of Act

The following provision is not in force.

 [Amendments]

R.S., c. A-1Consequential Amendment to the Access to Information Act

The following provision is not in force.

 [Amendments]

Coming into Force

Marginal note:Order in council

Footnote * This Division comes into force on a day to be fixed by order of the Governor in Council.

DIVISION 232000, c. 5Personal Information Protection and Electronic Documents Act

Amendments to Act

The following provision is not in force.

 [Amendments]

The following provision is not in force.

 [Amendments]

The following provision is not in force.

 [Amendments]

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The following provision is not in force.

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The following provision is not in force.

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The following provision is not in force.

 [Amendments]

Coming into Force

Marginal note:Order in council

Footnote * This Division comes into force on a day to be fixed by order of the Governor in Council.

DIVISION 241991, c. 11Broadcasting Act

 [Amendments]

DIVISION 252009, c. 24Human Pathogens and Toxins Act

Amendments to the Act

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The following provision is not in force.

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The following provision is not in force.

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The following provision is not in force.

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The following provision is not in force.

 [Amendments]

 [Amendments]

The following provision is not in force.

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

SOR/2015-44Consequential Amendments to the Human Pathogens and Toxins Regulations

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

Transitional Provisions

Marginal note:Words and expressions

  •  (1) The words and expressions used in this section and sections 454 and 455 have the same meaning as in the Human Pathogens and Toxins Act.

  • Marginal note:Duties

    (2) On the day on which section 406 comes into force, any person who, under paragraph 7(2)(c) or (d) of the Human Pathogens or Toxins Act, conducts controlled activities that are not authorized by their licence, must, within 90 days after that day, either apply to the Minister to vary their licence to authorize those activities or stop conducting those activities.

  • Marginal note:No contravention

    (3) A person referred to in subsection (2) does not contravene subsection 7(1) of the Human Pathogens or Toxins Act if they comply with subsection (2).

Marginal note:Licence holder representative

 After the day on which section 423 comes into force, a licence holder that is an organization must, without delay, provide the Minister with the name of its representative.

Marginal note:Validity period — extension

 The validity period of a licence may be extended for a period of up to 60 days beginning on the day on which this Act receives royal assent if

  • (a) the validity period of the licence ends within 30 days after the day on which this Act receives royal assent; and

  • (b) on the day on which this Act receives royal assent, the licence holder, its representative, if any, or the biological safety officer designated for the licence do not meet the requirements referred to in subsection 18(1.1) of the Human Pathogen and Toxins Act.

Coming into Force

Marginal note:Order in council

  •  Footnote *(1) Subsection 402(3), section 413, subsections 415(3), (8) and (9), sections 421 and 422, subsections 442(4), (6) to (9) and (14) and subsection 450(2) come into force on a day or days to be fixed by order of the Governor in Council.

    • Return to footnote *[Note: Subsection 402(3), section 413, subsections 415(3), (8) and (9), sections 421 and 422, subsections 442(4), (6) to (9) and (14) and subsection 450(2) not in force.]

  • Marginal note:Order in council

    Footnote *(2) Subsection 409(4), sections 414 and 431 and subsection 441(2) come into force on a day to be fixed by order of the Governor in Council.

    • Return to footnote *[Note: Subsection 409(4), sections 414 and 431 and subsection 441(2) not in force.]

  • Marginal note:Order in council

    Footnote *(3) Section 433 and subsections 436(3) and 442(12) come into force on a day to be fixed by order of the Governor in Council.

DIVISION 261997, c. 36Customs Tariff

Amendments to the Act

The following provision is not in force.

 [Amendments]

The following provision is not in force.

 [Amendments]

Coming into Force

Marginal note:Order in council

Footnote * This Division comes into force on a day to be fixed by order of the Governor in Council.

DIVISION 27R.S., c. E-19Export and Import Permits Act

Amendments to the Act

The following provision is not in force.

 [Amendments]

The following provision is not in force.

 [Amendments]

Coming into Force

Marginal note:Order in council

Footnote * This Division comes into force on a day to be fixed by order of the Governor in Council.

DIVISION 28R.S., c. A-2Aeronautics Act

Amendments to the Act

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

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 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

Transitional Provisions

Marginal note:Aviation security regulations

 Regulations described in paragraph 4.71(2)(k.4) of the Aeronautics Act may be made under subsection 4.71(1) of that Act in relation to a system, process, procedure, program, plan or document that a person established, developed or otherwise has in accordance with a regulation that was made under that subsection before the day on which this section comes into force.

Marginal note:Aviation safety regulations

 Regulations described in paragraph 4.901(e) of the Aeronautics Act may be made under section 4.9 of that Act in relation to a system, process, procedure, program, plan or document that a person established, developed or otherwise has in accordance with a regulation that was made under that section before the day on which this section comes into force.

R.S., c. A-1Consequential Amendment to the Access to Information Act

 [Amendments]

2019, c. 29Related Amendment to the Budget Implementation Act, 2019, No. 1

 [Amendments]

DIVISION 291996, c. 10Canada Transportation Act

 [Amendments]

DIVISION 30 R.S., c. J-1Judges Act

 [Amendments]

 [Amendments]

DIVISION 312014, c. 20, s. 376Administrative Tribunals Support Service of Canada Act

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

DIVISION 32Environmental Protection Tribunal of Canada

1999, c. 33Canadian Environmental Protection Act, 1999

 [Amendments]

 [Amendments]

 [Amendments]

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 [Amendments]

2014, c. 20, s. 376Administrative Tribunals Support Service of Canada Act

 [Amendments]

Consequential Amendments

R.S., c. I-20International River Improvements Act

 [Amendments]

 [Amendments]

 [Amendments]

R.S., c. P-36Public Service Superannuation Act

 [Amendments]

R.S., c. W-9; 1994, c. 23, s. 2(F)Canada Wildlife Act

 [Amendments]

 [Amendments]

 [Amendments]

1994, c. 22Migratory Birds Convention Act, 1994

 [Amendments]

 [Amendments]

 [Amendments]

2003, c. 20Antarctic Environmental Protection Act

 [Amendments]

 [Amendments]

 [Amendments]

2009, c. 14, s. 126Environmental Violations Administrative Monetary Penalties Act

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

2018, c. 12, s. 186Greenhouse Gas Pollution Pricing Act

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

Terminology Changes

 [Amendments]

Transitional Provisions

Marginal note:Definitions

 The following definitions apply in this section and sections 550 to 552.

Chief Administrator

Chief Administrator has the same meaning as in section 2 of the Administrative Tribunals Support Service of Canada Act. (administrateur en chef)

Chief Review Officer

Chief Review Officer means the review officer appointed as Chief Review Officer under subsection 244(1) of the Canadian Environmental Protection Act, 1999, as it read immediately before the day on which this Division comes into force. (réviseur-chef)

review officer

review officer means a person appointed as a review officer under the Canadian Environmental Protection Act, 1999, as it read immediately before the day on which this Division comes into force. (réviseur)

Tribunal

Tribunal means the Environmental Protection Tribunal of Canada established by subsection 243(1) of the Canadian Environmental Protection Act, 1999 as it reads on the day on which this Division comes into force. (Tribunal)

Marginal note:Contracts

  •  (1) A contract entered into before the day on which this Division comes into force by the Chief Review Officer or a review officer respecting the provision of services or material, in relation to the exercise of their powers and the performance of their duties and functions under the Canadian Environmental Protection Act, 1999, is deemed to have been entered into by the Chief Administrator.

  • Marginal note:References

    (2) Unless the context otherwise requires, in a contract referred to in subsection (1), every reference to the Chief Review Officer or to a review officer is to be read as a reference to the Chief Administrator.

Marginal note:Chief Review Officer

  •  (1) The person who holds the office of Chief Review Officer immediately before the day on which this Division comes into force continues in office as the Chairperson of the Tribunal for the remainder of the term for which they were appointed.

  • Marginal note:Review officers

    (2) A person who holds the office of review officer immediately before the day on which this Division comes into force continues in office as a member of the Tribunal for the remainder of the term for which they were appointed.

Marginal note:Pending requests for review or other matters

  •  (1) Any request for review or other matter pending before the Chief Review Officer, a review officer or a panel of review officers immediately before the day on which this Division comes into force is to be continued before the Tribunal.

  • Marginal note:Orders or decisions

    (2) An order or decision made by the Chief Review Officer, a review officer or a panel of review officers is deemed to have been made by the Tribunal and is enforceable as such.

DIVISION 33Freshwater Fish Marketing Corporation

Divestiture and Dissolution

Marginal note:Definitions

 The following definitions apply in this Division.

Corporation

Corporation means the Freshwater Fish Marketing Corporation established by subsection 3(1) of the Freshwater Fish Marketing Act. (Office)

Minister

Minister means the member of the King’s Privy Council for Canada designated as Minister for the purposes of the Freshwater Fish Marketing Act. (ministre)

Marginal note:Purpose

 The purpose of this Division is to authorize the taking of various measures for the divestiture and dissolution of all or any part of the Corporation.

Marginal note:Powers of Minister

  •  (1) The Minister may, with the approval of the Governor in Council and on any terms that the Governor in Council considers appropriate, take any of the following measures:

    • (a) sell or otherwise dispose of some or all of the property of the Corporation;

    • (b) procure an addition to, or other material change in, the objects or purposes for which the Corporation is incorporated or the restrictions on the businesses or activities that it may carry on;

    • (c) procure the amalgamation of the Corporation;

    • (d) procure the dissolution of the Corporation;

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

    • (f) procure the formation of any other entity whose securities, on formation, would be held by, on behalf of or in trust for His Majesty in right of Canada and sell or otherwise dispose of some or all of those securities; or

    • (g) acquire securities of a corporation or of any other entity that, on acquisition, would be held by, on behalf of or in trust for His Majesty in right of Canada and sell or otherwise dispose of some or all of those securities.

  • Marginal note:Additional powers

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

  • Marginal note:For greater certainty

    (3) For greater certainty, if the Minister considers it appropriate to carry out the purposes of this Division, the Minister may appoint a liquidator, who is to hold office during pleasure, to administer the divestiture and dissolution of the Corporation.

  • Marginal note:Powers, duties and functions

    (4) On appointment of a liquidator, the Chairperson of the Board of Directors of the Corporation, the President of the Corporation and the other directors of the Corporation cease to hold their respective offices and the liquidator may exercise all of the powers and perform all the duties and functions of the Corporation.

  • Marginal note:Part X of Financial Administration Act

    (5) The Governor in Council may, by order, declare that any provision of Part X of the Financial Administration Act does not apply to a corporation referred to in paragraph (1)(e) or to another entity referred to in paragraph (1)(f) that is a corporation.

Marginal note:Powers

  •  (1) The Corporation, any corporation referred to in paragraph 555(1)(e) or any other entity referred to in paragraph 555(1)(f) — or any entity that is wholly owned, or wholly held or controlled, directly or indirectly, by the Corporation, the corporation or the other entity — may, with the approval of the Governor in Council and on any terms that the Governor in Council considers appropriate, take any of the following measures:

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

    • (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 the property 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;

    • (g) procure the incorporation of a corporation whose securities, on incorporation, would be held by, on behalf of or in trust for it;

    • (h) procure the formation of any other entity whose securities, on formation, would be held by, on behalf of or in trust for it;

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

    • (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 it;

    • (k) procure its amalgamation;

    • (l) procure its dissolution; or

    • (m) do anything that is necessary for, or incidental to, a measure taken under any of paragraphs (a) to (l).

  • Marginal note:Order in council

    (2) The Governor in Council may, on the recommendation of the Minister and on any terms that the Governor in Council considers appropriate, by order, direct the Corporation, any corporation referred to in paragraph 555(1)(e) or any other entity referred to in paragraph 555(1)(f) — or any entity that is wholly owned, or wholly held or controlled, directly or indirectly, by the Corporation, the corporation or the other entity — to take, or cause any wholly-owned or wholly held or controlled entity of the Corporation, the corporation or the other entity to take a measure referred to in subsection (1).

  • Marginal note:Compliance with order

    (3) The directors of the Corporation or the corporation referred to in paragraph 555(1)(e) or any persons acting in a similar capacity with respect to the other entity referred to in paragraph 555(1)(f) must comply with an order made under subsection (2).

  • Marginal note:Best interests

    (4) Compliance with an order made under subsection (2) is deemed to be in the best interests of the Corporation, the corporation or the other entity.

  • Marginal note:Notification of implementation

    (5) As soon as feasible after the Corporation, corporation or entity implements an order and completes any actions that are required to be taken in connection with that implementation, it must notify the Minister that it has done so.

  • Marginal note:Non-application of Statutory Instruments Act

    (6) The Statutory Instruments Act does not apply to an order made under subsection (2).

Marginal note:Tabling in Parliament

  •  (1) The Minister is to cause a copy of an order made under subsection 556(2) 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 order is made.

  • Marginal note:Exception — detrimental information

    (2) However, if the Minister is of the opinion that publishing information contained in the order would be detrimental to the commercial interests of Canada, of the Corporation or of any corporation or entity referred to in the order, the Minister is to cause a copy of the order 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 Minister is notified that the order has been implemented.

  • Marginal note:Consultation

    (3) Before the Minister forms an opinion as to whether publishing information contained in the order would be detrimental, the Minister must consult the Board of Directors of the Corporation or of the corporation or the person or group of persons acting in a similar capacity with respect to the other entity.

Marginal note:Transfer — property, rights or interests

 Subject to sections 559 and 560, on the day on which the Corporation is dissolved, the Governor in Council may, on the recommendation of the Minister and on any terms that the Governor in Council considers appropriate, transfer, or direct to be transferred, the control, management and administration of any property, rights or interests held by the Corporation to any Minister, department or agency of the Government of Canada.

Marginal note:Distribution of property

  •  (1) The property of the Corporation is to be applied in satisfaction of its debts and liabilities, and of the charges, costs and expenses incurred in respect of its divestiture and dissolution.

  • Marginal note:Expenses — divestiture and dissolution

    (2) All charges, costs and expenses incurred in respect of the divestiture and dissolution of the Corporation are payable out of the property of the Corporation in priority to all other claims.

Marginal note:Surplus

  •  (1) Any surplus that remains after the satisfaction of the debts and liabilities of the Corporation and the charges, costs and expenses incurred in respect of its divestiture and dissolution belongs to His Majesty in right of Canada.

  • Marginal note:Unsatisfied debts and liabilities

    (2) Any debts and liabilities of the Corporation that remain unsatisfied on the day on which the Corporation is dissolved become the debts and liabilities of His Majesty in right of Canada.

The following provision is not in force.

Marginal note:Dissolution

 The Corporation is dissolved.

Transitional Provisions

Marginal note:Reference to Corporation

 On or after the day on which the Corporation is dissolved, every reference to the Corporation in any contract, instrument, act or other document executed or signed by the Corporation in its own name is to be read, unless the context otherwise requires, as a reference to His Majesty in right of Canada.

Marginal note:Commencement of legal proceedings

  •  (1) Any action, suit or other legal proceeding in respect of an obligation or liability incurred by the Corporation in respect of its divestiture or dissolution may be brought against His Majesty in right of Canada in any court that would have had jurisdiction if the action, suit or other legal proceeding had been brought against the Corporation.

  • Marginal note:Continuation of legal proceedings

    (2) Any action, suit or other legal proceeding to which the Corporation is party that is pending in any court on the day on which the Corporation is dissolved may be continued by or against His Majesty in right of Canada in like manner and to the same extent as it could have been continued by or against the Corporation.

Marginal note:No compensation

 Despite the provisions of any contract, agreement or order in council, no person who is appointed to hold office as a member of the Board of Directors of the Corporation has any right to any compensation, damages, indemnity or other form of relief from His Majesty in right of Canada or from any employee or agent of His Majesty for ceasing to hold that office or for the abolition of that office, by the operation of this Division.

Consequential Amendments

R.S., c. F-8Federal-Provincial Fiscal Arrangements Act
The following provision is not in force.

 [Amendments]

R.S., c. F-11Financial Administration Act
The following provision is not in force.

 [Amendments]

R.S., c. M-13Payments in Lieu of Taxes Act
The following provision is not in force.

 [Amendments]

R.S., c. P-36Public Service Superannuation Act
The following provision is not in force.

 [Amendments]

Repeal

The following provision is not in force.

Marginal note:Repeal

 The Freshwater Fish Marketing Act, chapter F-13 of the Revised Statutes of Canada, 1985, is repealed.

Coming into Force

Marginal note:Order in council

Footnote * Sections 561 and 565 to 569 come into force on a day or days to be fixed by order of the Governor in Council.

DIVISION 341974-75-76, c. 83Government Annuities Improvement Act

 [Amendments]

DIVISION 351984, c. 18; 2018, c. 4, s. 4Naskapi and the Cree-Naskapi Commission Act

 [Amendments]

DIVISION 361994, c. 28Canada Student Financial Assistance Act

Amendments to the Act

 [Amendments]

 [Amendments]

Transitional Provision

Marginal note:Delayed application

  •  (1) Section 6.31 of the Canada Student Financial Assistance Act applies as of August 1, 2029 in relation to a qualifying student who

    • (a) is registered in a program of studies during the loan year beginning on August 1, 2025;

    • (b) in respect of that program of studies, receives financial assistance under that Act during that loan year or received financial assistance under that Act during a previous loan year; and

    • (c) continues that program of studies at the same designated educational institution.

  • Marginal note:Words and expressions

    (2) Unless the context otherwise requires, words and expressions used in subsection (1) have the same meaning as in the Canada Student Financial Assistance Act.

DIVISION 37Proceeds of Crime (Money Laundering) and Terrorist Financing (Various Measures)

2000, c. 17; 2001, c. 41, s. 48Proceeds of Crime (Money Laundering) and Terrorist Financing Act

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

 [Amendments]

SOR/2002-184Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

 [Amendments]

 [Amendments]

R.S., c. A-1Consequential Amendment to the Access to Information Act

 [Amendments]

Coming into Force

Marginal note:October 1, 2025

 Section 584 is deemed to have come into force on October 1, 2025 immediately after the coming into force of section 8 of the Regulations Amending Certain Regulations Made Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, made on December 16, 2024 and registered as SOR/2024-267.

DIVISION 382017, c. 20, s. 103Borrowing Authority Act

 [Amendments]

DIVISION 39Measures Related to the Dissolution of Certain Corporations and Cooperatives (Listed Entities)

R.S., c. C-44; 1994, c. 24, s. 1(F)Canada Business Corporations Act

 [Amendments]

1998, c. 1Canada Cooperatives Act

 [Amendments]

2009, c. 23Canada Not-for-profit Corporations Act

 [Amendments]

DIVISION 402025, c. 2, s. 4Building Canada Act

 [Amendments]

DIVISION 412019, c. 28, s. 10Canadian Energy Regulator Act

 [Amendments]

 [Amendments]

DIVISION 421999, c. 33Canadian Environmental Protection Act, 1999

 [Amendments]

 [Amendments]

DIVISION 43R.S., c. C-34; R.S., c. 19 (2nd Supp.), s. 19Competition Act

 [Amendments]

 [Amendments]

DIVISION 44National School Food Program Act

 [Amendments]

DIVISION 45Stablecoin Act

Enactment of Act

 [Amendments]

Consequential and Related Amendments

R.S., c. A-1Access to Information Act
The following provision is not in force.

 [Amendments]

2000, c. 17; 2001, c. 41, s. 48Proceeds of Crime (Money Laundering) and Terrorist Financing Act
The following provision is not in force.

 [Amendments]

The following provision is not in force.

 [Amendments]

2021, c. 23, s. 177Retail Payment Activities Act
The following provision is not in force.

 [Amendments]

The following provision is not in force.

 [Amendments]

Coming into Force

Marginal note:Order in council

Footnote * Sections 601 to 605 come into force on a day or days to be fixed by order of the Governor in Council.

SCHEDULE 1

SCHEDULE 1 [Amendments]

SCHEDULE 3(Subsection 2(1), section 30, subsections 31(3), 33(1), 35(3) and 40(1) and section 44)

List of Names of First Nations and Governing Bodies, Description of Lands and Specified Products

Column 1Column 2Column 3Column 4
First NationGoverning BodyLandsSpecified Product

SCHEDULE 2

SCHEDULE 2 [Amendments]

SCHEDULE(Section 2, subsections 13(1) to (3), 14(1) and (2) and 15(1) and paragraph 44(b))

SCHEDULE 3

SCHEDULE 3 [Amendments]

SCHEDULE V(Sections 14.12 and 992)

TABLE 1

National Instrument 51-102

Column 1Column 2
ItemProvinceInstrument
1OntarioNational Instrument 51-102 Continuous Disclosure Obligations, made a rule of the Ontario Securities Commission and published on April 2, 2004, (2004) 27 OSCB 3439, as amended from time to time
2QuebecRegulation 51-102 respecting Continuous Disclosure Obligations, CQLR, c. V-1.1, r. 24, as amended from time to time
3Nova ScotiaNational Instrument 51-102 Continuous Disclosure Obligations, made a rule of the Nova Scotia Securities Commission and published in the Nova Scotia Royal Gazette, Part I, on March 15, 2004, as amended from time to time
4New BrunswickNational Instrument 51-102 Continuous Disclosure Obligations, made a rule of the Financial and Consumer Services Commission of New Brunswick, as amended from time to time
5ManitobaManitoba Securities Commission Rule 2003-17, National Instrument 51-102 Continuous Disclosure Obligations, as amended from time to time
6British ColumbiaNational Instrument 51-102 Continuous Disclosure Obligations, B.C. Reg. 110/2004, as amended from time to time
7Prince Edward IslandNational Instrument 51-102 Continuous Disclosure Obligations, implemented by Rule 51-802 Implementing National Instrument 51-102 Continuous Disclosure Obligations, made under the Securities Act, R.S.P.E.I. 1988, c. S-3.1, as amended from time to time
8SaskatchewanNational Instrument 51-102 Continuous Disclosure Obligations, set out in Part XXXVI of the Appendix to The Securities Commission (Adoption of National Instruments) Regulations, R.R.S. c. S-42.2, Reg. 3, as amended from time to time
9AlbertaNational Instrument 51-102 Continuous Disclosure Obligations, made a rule of the Alberta Securities Commission and published in the Alberta Gazette, Part 1, on March 15, 2004, as amended from time to time
10Newfoundland and LabradorNational Instrument 51-102 Continuous Disclosure Obligations, implemented by Rule 51-801 Implementing National Instrument 51-102 Continuous Disclosure Obligations, made under the Securities Act, R.S.N.L. 1990, c. S-13, as amended from time to time
11YukonNational Instrument 51-102 Continuous Disclosure Obligations, implemented by Rule Respecting the Implementation of CSA Instruments and Policies (Local Rule 11-802), made under the Securities Act, S.Y. 2007, c. 16, as amended from time to time
12Northwest TerritoriesNational Instrument 51-102 Continuous Disclosure Obligations, implemented by Implementing Rule 51-802 Continuous Disclosure Obligations, made under the Securities Act, S.N.W.T. 2008, c. 10, as amended from time to time
13NunavutNational Instrument 51-102 Continuous Disclosure Obligations, adopted by the Adoption of National and Multilateral Instruments (Securities Act) Regulations, R-018-2005, as amended from time to time

TABLE 2

National Instrument 54-101

Column 1Column 2
ItemProvinceInstrument
1OntarioNational Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer, made a rule of the Ontario Securities Commission and published on June 14, 2002, (2002) 25 OSCB 3361, as amended from time to time
2QuebecRegulation 54-101 respecting Communication with Beneficial Owners of Securities of a Reporting Issuer, CQLR, c. V-1.1, r. 29, as amended from time to time
3Nova ScotiaNational Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer, made a rule of the Nova Scotia Securities Commission and published in the Nova Scotia Royal Gazette, Part I, on July 3, 2002, as amended from time to time
4New BrunswickNational Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer, made a rule of the Financial and Consumer Services Commission of New Brunswick, as amended from time to time
5ManitobaManitoba Securities Commission Rule 2002-1, National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer, as amended from time to time
6British ColumbiaNational Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer, B.C. Reg. 154/2002, as amended from time to time
7Prince Edward IslandNational Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer, implemented by Rule 54-801 Implementing National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer, made under the Securities Act, R.S.P.E.I. 1988, c. S-3.1, as amended from time to time
8SaskatchewanNational Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer, set out in Part XXIV of the Appendix to the Securities Commission (Adoption of National Instruments) Regulations, R.R.S. c. S-42.2, Reg. 3, as amended from time to time
9AlbertaNational Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer, made a rule of the Alberta Securities Commission and published in the Alberta Gazette, Part 1, on June 29, 2002, as amended from time to time
10Newfoundland and LabradorNational Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer, made a rule by the Superintendent of Securities of Newfoundland and Labrador under the Securities Act, R.S.N.L. 1990, c. S-13, as amended from time to time
11YukonNational Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer, implemented by Rule Respecting the Implementation of CSA Instruments and Policies (Local Rule 11-802), made under the Securities Act, S.Y. 2007, c. 16, as amended from time to time
12Northwest TerritoriesNational Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer, implemented by Implementing Rule 54-801 Communication with Beneficial Owners of Securities of a Reporting Issuer, made under the Securities Act, S.N.W.T. 2008, c. 10, as amended from time to time
13NunavutNational Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer, adopted by the Adoption of National and Multilateral Instruments (Securities Act) Regulations, R-018-2005, as amended from time to time

SCHEDULE 4

SCHEDULE 4 [Amendments]

SCHEDULE IV(Sections 74.1 and 91.2)

Basic Pension for the Covered Period

Column 1Column 2
DateBasic Pension ($)
April 1, 19851,146.83
January 1, 19861,191.56
January 1, 19871,240.40
January 1, 19881,293.75
January 1, 19891,346.79
January 1, 19901,410.09
January 1, 19911,477.77
January 1, 19921,563.48
January 1, 19931,591.62
January 1, 19941,621.86
January 1, 19951,629.97
January 1, 19961,659.31
January 1, 19971,684.20
January 1, 19981,716.20
January 1, 19991,731.65
January 1, 20001,776.75
January 1, 20011,821.17
January 1, 20021,875.81
January 1, 20031,936.65
January 1, 20041,998.62
January 1, 20052,032.60
January 1, 20062,209.38
January 1, 20072,258.92
January 1, 20082,304.10
January 1, 20092,361.70
January 1, 20102,436.32
January 1, 20112,478.08
January 1, 20122,547.47
January 1, 20132,593.32
January 1, 20142,616.66
January 1, 20152,663.76
January 1, 20162,695.73
January 1, 20172,733.47
January 1, 20182,792.53
January 1, 20192,856.76
January 1, 20202,911.04
January 1, 20212,940.15
January 1, 20223,019.53
January 1, 20233,215.80
January 1, 20243,357.30
January 1, 20253,444.59

SCHEDULE 5

SCHEDULE 5 [Amendments]

SCHEDULE(Subsection 3(1), section 8, subsections 9(4), 10(1) and 10(2) and paragraph 12(2)(b))Prohibited Human Pathogens and Toxins

PART 1
Toxins

PART 2
Human Pathogens

  • Variola virus

    Virus de la variole

SCHEDULE 6

SCHEDULE 6 [Amendments]

SCHEDULE 2(Section 2, subsections 15.1(1) to (3) and section 19)

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