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Canada Emission Reduction Incentives Agency Act (S.C. 2005, c. 30, s. 87)

Act current to 2019-12-03 and last amended on 2005-10-03. Previous Versions

Duties and Powers of the Agency (continued)

Marginal note:Competitive process — eligible Kyoto units

  •  (1) The Agency must use a competitive process to acquire eligible Kyoto units and must be satisfied that the acquisition of those units is of benefit to Canada, taking into account the factors specified in the regulations.

  • Marginal note:Regulations

    (2) The Minister may make regulations specifying factors for the purposes of subsection (1).

Marginal note:Advance payment for eligible domestic credits

  •  (1) The Agency may, with the approval of the Treasury Board, make payments to acquire eligible domestic credits before they are created if the Agency exercises due diligence and

    • (a) the credits are to be created in relation to a project that meets criteria established by the Minister;

    • (b) the Minister is satisfied that it is reasonable to expect that the project will result in reductions or removals of greenhouse gases in the amounts anticipated in the agreement relating to the acquisition; and

    • (c) the agreement relating to the acquisition contains a provision requiring the repayment of the proportion of the amounts advanced for which no credits are received by the Agency.

  • Marginal note:Credits may be in relation to less than anticipated total

    (2) If the Agency makes payments to acquire eligible domestic credits before they are created, the amount of reductions or removals of greenhouse gases related to the credits being acquired may be less than or equal to the total amount of reductions or removals of greenhouse gases anticipated from the project for which the credits are created.

Marginal note:Credits to be recorded

 After acquiring eligible credits in its own name, the Agency must, without delay, take the steps necessary to have them recorded in the name of Her Majesty in right of Canada in any database designated by the Minister.

Marginal note:Contracts with Her Majesty

 The Agency may enter into contracts, agreements or other arrangements with Her Majesty as if it were not an agent of Her Majesty.

General

Marginal note:Accident compensation

 The President and the members of the advisory board 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.

  • 2005, c. 30, ss. 87 “22”, 94(E)

Corporate Business Plan

Marginal note:Corporate business plan

  •  (1) As soon as possible after the Agency is established and every year after that, the Agency must submit a corporate business plan to the Minister for approval and the Minister must cause a copy of the plan to be tabled in each House of Parliament on any of the first fifteen days on which that House is sitting after the Minister approves the plan.

  • Marginal note:Contents of corporate business plan

    (2) The corporate business plan must include a statement of

    • (a) the Agency’s objectives for the next five years;

    • (b) the strategies that the Agency intends to use to achieve its objectives, including operational, financial and human resource strategies;

    • (c) the Agency’s expected performance over that period; and

    • (d) the Agency’s operating and capital budgets for each year of that period.

Audit

Marginal note:Annual audit

 The Auditor General of Canada is the auditor for the Agency and must

  • (a) annually audit and provide an opinion to the Agency and the Minister on the financial statements of the Agency; and

  • (b) provide the Minister and the President with copies of reports of audits carried out under this section.

Annual Report

Marginal note:Annual report

  •  (1) The Agency must, before December 31 of each year following the Agency’s first full year of operations, submit an annual report on the operations of the Agency for the preceding fiscal year to the Minister, and the Minister must cause a copy of the report to be tabled in each House of Parliament on any of the first fifteen days on which that House is sitting after the Minister receives it.

  • Marginal note:Form and contents

    (2) The annual report must include

    • (a) the financial statements of the Agency, prepared in accordance with accounting principles consistent with those applied in preparing the Public Accounts referred to in section 64 of the Financial Administration Act, and the Auditor General of Canada’s opinion on them;

    • (b) information about the Agency’s performance with respect to the objectives established in the corporate business plan; and

    • (c) any other information that the Minister may require to be included in it.

 
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