Global Minimum Tax Act (S.C. 2024, c. 17, s. 81)

PART 6Regulations

Marginal note:Regulations

• 138 (1) The Governor in Council may make regulations

  • (a) prescribing anything that, by this Act, is to be prescribed, determined or regulated by regulation;

  • (b) prescribing the evidence required to establish facts relevant to assessments under this Act;

  • (c) requiring any class of persons to make information returns respecting any class of information required in connection with the administration or enforcement of this Act; and

  • (d) generally to carry out the purposes and provisions of this Act.

• Marginal note:Effect

  (2) A regulation made under this Act has effect from the day on which it is published in the Canada Gazette or at any later time that may be specified in the regulation, unless it provides otherwise and

  • (a) has a relieving effect only;

  • (b) corrects an ambiguous or deficient enactment that was not in accordance with the objects of this Act or the Global Minimum Tax Regulations;

  • (c) is consequential on an amendment to this Act that is applicable before the day on which the regulation is published in the Canada Gazette; or

  • (d) gives effect to a budgetary or other public announcement, in which case the regulation is not, unless paragraph (a), (b) or (c) applies, to have effect before the day on which the announcement was made.

Marginal note:Positive or negative amount — regulations

139 For greater certainty,

• (a) in prescribing an amount under subsection 138(1), the Governor in Council may prescribe a positive or negative amount; and

• (b) in prescribing a manner of determining an amount under subsection 138(1), the Governor in Council may prescribe a manner that could result in a positive or negative amount.

Marginal note:Incorporation by reference — limitation removed

140 The limitation set out in paragraph 18.1(2)(a) of the Statutory Instruments Act, to the effect that a document must be incorporated as it exists on a particular date, does not apply to any power to make regulations under this Act.

Marginal note:Certificates not statutory instruments

141 For greater certainty, any certificate or similar document issued under this Act is not a statutory instrument for the purposes of the Statutory Instruments Act.