Financial Administration Act

Marginal note:Exempted Crown corporations

• 85 (1) Divisions I to IV do not apply to the Bank of Canada, the Canada Council for the Arts, the Canada Pension Plan Investment Board, the Canadian Broadcasting Corporation, the Telefilm Canada, the International Development Research Centre or the National Arts Centre Corporation.

• Marginal note:Idem

  (2) Divisions I to V do not apply to any Crown corporation incorporated or acquired, with the written authorization of the appropriate Minister,

  • (a) by or on behalf of the Royal Canadian Mounted Police for the purpose of performing its functions under the laws of Canada; or

  • (b) by or on behalf of any service established by an Act of Parliament to collect information and intelligence respecting the security of Canada.

• Marginal note:Idem

  (3) Divisions I to IV do not apply to

  • (a) a federal member institution, within the meaning assigned to that expression by section 2 of the Canada Deposit Insurance Corporation Act, the shares of which have been vested in the Canada Deposit Insurance Corporation by order of the Governor in Council under section 39.13 of that Act; or

  • (b) to the Canada Deposit Insurance Corporation, as a parent Crown corporation in respect of a wholly-owned subsidiary that is a federal member institution described in paragraph (a).