Build Canada Homes Act (S.C. 2026, c. 18)

Marginal note:Financial year

28 The financial year of the Corporation is the period of 12 months beginning on April 1 and ending on the next March 31, unless the Governor in Council directs otherwise.

Marginal note:Consolidated Revenue Fund — Corporation

29 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 Corporation.

Marginal note:Borrowing power

• The following provision is not in force.

  30 (1) At the request of the Corporation, the Minister of Finance may, on the recommendation of the Minister, lend money to the Corporation out of the Consolidated Revenue Fund on any terms and conditions that the Minister of Finance may fix.

• The following provision is not in force.

  Marginal note:Borrowing — other sources

  (2) The Corporation or any of its wholly-owned subsidiaries may, to carry out its purpose, borrow money from any other source, but the aggregate outstanding amount of all loans from such other sources at any time may not exceed $400 million or any other amount that is specified by order of the Governor in Council on the recommendation of the Minister of Finance.

• The following provision is not in force.

  Marginal note:Loan guarantees

  (3) Any loan guarantee provided by the Corporation or any of its wholly-owned subsidiaries is not considered to be a transaction to borrow money for the purposes of subsection (2).

Marginal note:Regulations

31 The Governor in Council may make regulations to carry out the purposes and provisions of this Act, including regulations setting out requirements in respect of the exercise of the Corporation’s powers under this Act.

Marginal note:Inconsistency

32 In the event of any inconsistency between this Act and Part X of the Financial Administration Act, this Act prevails to the extent of the inconsistency.

Marginal note:Accident compensation

33 The directors, including the Chairperson, the Chief Executive Officer and the officers and employees of the Corporation are deemed to be employees for the purposes of the Government Employees Compensation Act and to be employed in the federal public administration for the purposes of any regulations made under section 9 of the Aeronautics Act.

Marginal note:Review

• The following provision is not in force.

  34 (1) Five years after the day on which this section comes into force, and every 10 years after that, the Minister must have a review of the provisions and operation of this Act undertaken in consultation with the Minister of Finance.

• The following provision is not in force.

  Marginal note:Report to Parliament

  (2) Within one year after the review is undertaken, the Minister must cause a copy of a report on the review to be laid before each House of Parliament.

• The following provision is not in force.

  Marginal note:Review of report

  (3) The report is to be reviewed by any committee of the Senate or of the House of Commons, or any joint committee, that may be designated or established for the purpose of reviewing the report.

Marginal note:Transfers

35 The Governor in Council may, on the recommendation of the Minister, by order, transfer or direct to be transferred to the Corporation

• The following provision is not in force.

  (a) the administration, management and control of any property, rights or interests held by Canada Lands Company Limited or any of its wholly-owned subsidiaries; or

• The following provision is not in force.

  (b) any obligation incurred or assumed by Canada Lands Company Limited or any of its wholly-owned subsidiaries.

Marginal note:Directive

• The following provision is not in force.

  36 (1) The Governor in Council may — on the recommendation of the Minister in relation to the Corporation or any wholly-owned subsidiary of the Corporation or of the appropriate Minister in relation to Canada Lands Company Limited or any wholly-owned subsidiary of Canada Lands Company Limited — on any terms and conditions that the Governor in Council considers appropriate, issue a directive to the Corporation or to Canada Lands Company Limited or to any wholly-owned subsidiary of the Corporation or of Canada Lands Company Limited to take any measure referred to in any of sections 37, 39 or 40.

• The following provision is not in force.

  Marginal note:Compliance with directive

  (2) The directors of the Corporation or of Canada Lands Company Limited or of any wholly-owned subsidiary of the Corporation or of Canada Lands Company Limited must comply with a directive issued under subsection (1). Compliance with the issued directive is deemed to be in the best interests of the Corporation, Canada Lands Company Limited or the wholly-owned subsidiary, as the case may be.

• The following provision is not in force.

  Marginal note:Notification of implementation

  (3) As soon as feasible after implementing a directive and completing any actions that are required to be taken in connection with that implementation, the Corporation, Canada Lands Company Limited or the wholly-owned subsidiary must notify the Minister or the appropriate Minister, as the case may be, that it has done so.

• The following provision is not in force.

  Marginal note:Non-application of Statutory Instruments Act

  (4) The Statutory Instruments Act does not apply to a directive issued under subsection (1).

• The following provision is not in force.

  Marginal note:No liability

  (5) If a directive is issued under subsection (1), no action or other proceeding, including any action or proceeding in restitution or for damages of any kind, that is based on or is in relation to any agreement in relation to the Corporation or Canada Lands Company Limited or any wholly-owned subsidiary of the Corporation or of Canada Lands Company Limited that existed on or before the directive is issued lies or may be instituted by anyone against His Majesty or any minister or any employee or agent of His Majesty, or any person engaged to provide advice or services to His Majesty in relation to such an agreement, for anything done or omitted to be done or for anything purported to have been done or omitted to be done under the directive, in the exercise of their powers or the performance of their duties or functions.

Marginal note:Authority — Corporation

37 If directed by the Governor in Council under subsection 36(1), the Corporation may take any of the following measures:

• The following provision is not in force.

  (a) procure the incorporation of a corporation, securities of which, on incorporation, would be held by, on behalf of or in trust for His Majesty;

• The following provision is not in force.

  (b) procure the incorporation of a corporation, securities of which, on incorporation, would be held by, on behalf of or in trust for the Corporation;

• The following provision is not in force.

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

• The following provision is not in force.

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

• The following provision is not in force.

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

• The following provision is not in force.

  (f) 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 Corporation;

• The following provision is not in force.

  (g) procure an addition to, or other material change in, the objects or purposes for which any of its wholly-owned subsidiaries is incorporated or formed or the restrictions on the businesses or activities that the subsidiary may carry on, as set out in its articles;

• The following provision is not in force.

  (h) procure the amalgamation or dissolution of any of the Corporation’s wholly-owned subsidiaries; and

• The following provision is not in force.

  (i) do anything that is necessary for, or incidental to, a measure taken under any other paragraph of this section.

Marginal note:Amendments to articles

38 The appropriate Minister may apply for articles that would add to or otherwise make a material change in the objects or purposes for which Canada Lands Company Limited is incorporated, or the restrictions on the businesses or activities that it may carry on, as set out in its articles.

Marginal note:Authority — Canada Lands Company Limited

39 If directed by the Governor in Council under subsection 36(1), Canada Lands Company Limited may take any of the following measures:

• The following provision is not in force.

  (a) procure an addition to, or other material change in, the objects or purposes for which it or any of its wholly-owned subsidiaries is incorporated, or the restrictions on the businesses or activities that it or any of its wholly-owned subsidiaries may carry on, as set out in their articles;

• The following provision is not in force.

  (b) 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;

• The following provision is not in force.

  (c) 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 His Majesty;

• The following provision is not in force.

  (d) procure the amalgamation or dissolution of any of its wholly-owned subsidiaries; and

• The following provision is not in force.

  (e) do anything that is necessary for, or incidental to, a measure taken under any other paragraph of this section.

Marginal note:Authority — subsidiaries

40 If it is issued a directive by the Governor in Council under subsection 36(1), a wholly-owned subsidiary of the Corporation or Canada Lands Company Limited may take any of the following measures:

• The following provision is not in force.

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

• The following provision is not in force.

  (b) procure the incorporation of a corporation, securities of which, on incorporation, would be held by, on behalf of or in trust for His Majesty;

• The following provision is not in force.

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

• The following provision is not in force.

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

• The following provision is not in force.

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

• The following provision is not in force.

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

• The following provision is not in force.

  (g) reorganize its capital structure;

• The following provision is not in force.

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

• The following provision is not in force.

  (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;

• The following provision is not in force.

  (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;

• The following provision is not in force.

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

• The following provision is not in force.

  (l) do anything that is necessary for, or incidental to, a measure taken under any other paragraph of this section.

Marginal note:Consolidated Revenue Fund — Canada Lands Company Limited

• The following provision is not in force.

  41 (1) The appropriate Minister may make payments out of the Consolidated Revenue Fund to make a contribution of capital to Canada Lands Company Limited or to acquire shares in Canada Lands Company Limited on behalf of His Majesty.

• The following provision is not in force.

  Marginal note:Consolidated Revenue Fund — entity

  (2) The Minister of Finance may make payments out of the Consolidated Revenue Fund to fund the operations and activities of any entity designated by the Governor in Council if the Governor in Council is of the opinion that the entity is performing any activity related to carrying out the purpose of the Corporation.

• The following provision is not in force.

  Marginal note:Limit

  (3) The aggregate amount of payments made under subsections (1) and (2) may not exceed $1.515 billion, or any other amount that is specified in an appropriation Act or any other Act of Parliament.

• The following provision is not in force.

  Marginal note:Contracts

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

• The following provision is not in force.

  Marginal note:Repeal

  (5) This section is repealed on a day to be fixed by order of the Governor in Council.

Marginal note:Non-application of provisions

42 Sections 89, 90 and 91 and subsection 99(2) of the Financial Administration Act do not apply to any measure referred to in sections 37 to 40.

Marginal note:Part X of Financial Administration Act

43 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 measures taken by the Corporation or any of its wholly-owned subsidiaries or Canada Lands Company Limited or any of its wholly-owned subsidiaries under a directive made under subsection 36(1).