Financial Administration Act (R.S.C., 1985, c. F-11)

Act current to 2014-07-22 and last amended on 2014-06-19. Previous Versions

Marginal note:Application to wholly-owned subsidiaries
  •  (1) Each parent Crown corporation shall take such steps in relation to the articles, by-laws and management of each wholly-owned subsidiary of the corporation, if any, as are necessary to ensure that the businesses, activities and other affairs of the subsidiary are carried on in accordance with this Part and the regulations.

  • Marginal note:Idem

    (2) The Governor in Council may declare any provision of this Part that applies only to parent Crown corporations to apply to a wholly-owned subsidiary, and the provision applies, with such modifications as the circumstances require, to that wholly-owned subsidiary as if it were a parent Crown corporation.

  • R.S., 1985, c. F-11, s. 86;
  • 1991, c. 24, s. 22.
Marginal note:Inconsistencies

 Except as otherwise expressly provided, in the event of any inconsistency between the provisions of this Part and the provisions of any other Act of Parliament, the provisions of this Part prevail.

  • 1984, c. 31, s. 11.

Division ICorporate Affairs

Accountability to Parliament

Marginal note:Accountability to Parliament

 Each Crown corporation is ultimately accountable, through the appropriate Minister, to Parliament for the conduct of its affairs.

  • 1984, c. 31, s. 11.

Directives

Marginal note:Directives by Governor in Council
  •  (1) The Governor in Council may, on the recommendation of the appropriate Minister, give a directive to any parent Crown corporation, if the Governor in Council is of the opinion that it is in the public interest to do so.

  • Marginal note:Consultation

    (2) Before a directive is given to a parent Crown corporation, the appropriate Minister shall consult the board of directors of the corporation with respect to the content and effect of the directive.

  • (3) [Repealed, 1991, c. 24, s. 23]

  • Marginal note:Tabling in Parliament

    (4) The appropriate Minister shall cause a copy of any directive given to a parent Crown corporation to be laid before each House of Parliament on any of the first fifteen days on which that House is sitting after the directive is given.

  • (5) [Repealed, 1991, c. 24, s. 23]

  • Marginal note:Notification of implementation

    (6) Forthwith after implementing a directive and completing any actions required to be taken in connection therewith, a parent Crown corporation shall notify the appropriate Minister that the directive has been implemented.

  • Marginal note:Restriction

    (7) No directive shall be given to the Standards Council of Canada with respect to

    • (a) the manner in which voluntary standardization is promoted; or

    • (b) the provision of financial assistance to or for the benefit of a particular person or group of persons.

  • R.S., 1985, c. F-11, s. 89;
  • 1991, c. 24, s. 23.