Nuclear Fuel Waste Act (S.C. 2002, c. 23)

Act current to 2014-06-12

WITHDRAWAL BY BENEFICIARY

Marginal note:Withdrawals from trust funds

 Notwithstanding subsection 11(1), the Governor in Council may, on the recommendation of the Minister, authorize a beneficiary of a trust fund to withdraw all or part of the balance in the trust fund if

  • (a) the Governor in Council has approved an approach under subsection 20(5) and the total balance in the trust funds exceeds the estimated total cost of implementing that approach; or

  • (b) the waste management organization has completed the implementation of an approach that the Governor in Council selected under section 15 or approved under subsection 20(5).

RECORDS, BOOKS AND FINANCIAL STATEMENTS

Marginal note:Records and books to be kept
  •  (1) The waste management organization, every nuclear energy corporation and Atomic Energy of Canada Limited, as well as every financial institution that holds a trust fund, shall keep, at its place of business in Canada, records, books of account and other documents for at least six years after the end of the fiscal year to which they relate, in such form and containing such information as will enable the verification of the accuracy and completeness of the information that is required to be submitted or provided to the Minister under this Act.

  • Marginal note:False entries, omissions

    (2) No person shall make a false entry, or fail to make an entry, in a record, book of account or other document required to be kept under subsection (1).

Marginal note:WMO financial statements
  •  (1) The waste management organization shall provide the Minister, within three months after the end of each fiscal year of the organization, with financial statements audited at its own expense by an independent auditor.

  • Marginal note:Trust fund financial statements

    (2) Every financial institution that holds a trust fund shall provide the Minister and the waste management organization, within three months after the end of each fiscal year of the trust fund, with financial statements relating to that trust fund, audited at its own expense by an independent auditor.

DOCUMENTS TO BE MADE PUBLIC

Marginal note:Documents to be made public

 The waste management organization shall make available to the public

  • (a) the study, reports and financial statements that it is required to submit to the Minister under this Act, simultaneously with submitting them to the Minister; and

  • (b) financial statements provided to the waste management organization under subsection 23(2), as soon as practicable.

INSPECTION OF RECORDS AND BOOKS

Marginal note:Auditors
  •  (1) The Minister may designate as an auditor for the purposes of this Act any person that the Minister considers to be qualified.

  • Marginal note:Powers of auditors

    (2) For the purpose of ensuring compliance with this Act, an auditor may, during normal business hours,

    • (a) enter any premises of a body referred to in subsection 22(1), after having given reasonable advance notice to the person in charge of the premises; and

    • (b) inspect, make copies of, and take extracts from, any records, books of account and other documents that the auditor believes on reasonable grounds are required by subsection 22(1) to be kept.

  • Marginal note:Designation to be produced

    (3) An auditor shall, if so requested either before or after entering any premises under this section, produce to the person in charge of the premises evidence of the auditor’s designation by the Minister.