Marginal note:Canadian Polar Commission Act

199. The obligations under sections 20 and 21 of the Canadian Polar Commission Act, as those sections read immediately before the day on which this Act receives royal assent, continue to apply in respect of the fiscal year beginning on April 1, 2012 but do not apply in respect of any subsequent fiscal year.

Marginal note:National Round Table on the Environment and the Economy Act

200. The obligations under sections 22 and 23 of the National Round Table on the Environment and the Economy Act, as those sections read immediately before the day on which this Act receives royal assent, continue to apply in respect of the fiscal year beginning on April 1, 2011 but do not apply in respect of any subsequent fiscal year.

Marginal note:Yukon Surface Rights Board Act

201. The obligation under subsection 23(5) of the Yukon Surface Rights Board Act, as that subsection read immediately before the day on which this Act receives royal assent, continues to apply in respect of the fiscal year beginning on April 1, 2011 but does not apply in respect of any subsequent fiscal year.

Marginal note:Canadian Food Inspection Agency Act

202. The obligations under sections 23 and 32 of the Canadian Food Inspection Agency Act, as those sections read immediately before the day on which this Act receives royal assent, continue to apply in respect of the fiscal year beginning on April 1, 2011 but do not apply in respect of any subsequent fiscal year.

Marginal note:Canada Revenue Agency Act

203. The obligations under sections 87 and 88 of the Canada Revenue Agency Act, as those sections read immediately before the day on which this Act receives royal assent, continue to apply in respect of the fiscal year beginning on April 1, 2012 but do not apply in respect of any subsequent fiscal year.

Marginal note:Canadian Institutes of Health Research Act

204. The obligations under sections 31 and 32 of the Canadian Institutes of Health Research Act, as those sections read immediately before the day on which this Act receives royal assent, continue to apply in respect of the fiscal year beginning on April 1, 2012 but do not apply in respect of any subsequent fiscal year.

Division 2Life Annuity-like Products

1991, c. 45Trust and Loan Companies Act

205. Subsection 416(6) of the Trust and Loan Companies Act is replaced by the following:

1991, c. 46Bank Act

206. Subsection 416(6) of the Bank Act is replaced by the following:

Marginal note:1999, c. 28, s. 35(1)

207. Subsection 549(5) of the Act is replaced by the following:

1991, c. 48Cooperative Credit Associations Act

208. Subsection 381(6) of the Cooperative Credit Associations Act is replaced by the following:

Division 3PPP Canada Inc.

Marginal note:Definitions

209. For the purposes of this Division, “appropriate Minister”, “Crown corporation” and “department” have the same meanings as in section 2 of the Financial Administration Act.

Marginal note:Status of PPP Canada Inc.

210. Except as provided in this Division, PPP Canada Inc., incorporated under the Canada Business Corporations Act, is not an agent of Her Majesty in right of Canada.

Marginal note:Agent for certain activities

211. PPP Canada Inc. is an agent of Her Majesty in right of Canada in relation to the following activities:

• (a) assessing public-private partnership opportunities for departments and Crown corporations in accordance with criteria established by the Treasury Board;

• (b) advising departments and Crown corporations on the implementation of public-private partnership projects; and

• (c) acting as a source of expertise and advice for departments and Crown corporations on public-private partnership issues.

Marginal note:Her Majesty not liable

212. Her Majesty in right of Canada is not liable for any obligation or liability incurred by PPP Canada Inc. in relation to any activity other than an activity referred to in section 211.

Marginal note:Restrictions

213. Neither PPP Canada Inc. nor its shareholders or directors are authorized, without the Governor in Council’s prior approval given on the recommendation of the appropriate Minister and the Treasury Board,

• (a) to apply for continuance in another jurisdiction; or

• (b) to apply for articles that would add to, or otherwise make a material change in, the objects or purposes for which PPP Canada Inc. was incorporated, or the restrictions on the businesses or activities that PPP Canada Inc. may carry on, as set out in its articles of incorporation.

Division 4Territorial Borrowing Limits

R.S., c. N-27Northwest Territories Act

• 214. (1) Subsection 20(2) of the Northwest Territories Act is replaced by the following:

  • Marginal note:Restriction

    (2) The aggregate of all borrowings shall not exceed the maximum amount set under subsection (4).

• (2) Section 20 of the Act is amended by adding the following after subsection (3):

  • Marginal note:Maximum amount — borrowings

    (4) The Governor in Council may, on the recommendation of the Minister of Finance, set the maximum amount of the aggregate of all borrowings.

  • Marginal note:Regulations

    (5) The Governor in Council may, on the recommendation of the Minister of Finance, make regulations respecting borrowings for the purposes of subsections (2) and (4), including regulations respecting

    • (a) what constitutes, or is deemed to constitute, borrowing;

    • (b) the entities, or classes of entities, whose borrowings shall be taken into account; and

    • (c) the manner in which the value of a borrowing is determined.

1993, c. 28Nunavut Act

• 215. (1) Subsection 27(2) of the Nunavut Act is replaced by the following:

  • Marginal note:Restriction

    (2) The aggregate of all borrowings must not exceed the maximum amount set under subsection (4).

• (2) Section 27 of the Act is amended by adding the following after subsection (3):

  • Marginal note:Maximum amount — borrowings

    (4) The Governor in Council may, on the recommendation of the Minister of Finance, set the maximum amount of the aggregate of all borrowings.

  • Marginal note:Regulations

    (5) The Governor in Council may, on the recommendation of the Minister of Finance, make regulations respecting borrowings for the purposes of subsections (2) and (4), including regulations respecting

    • (a) what constitutes, or is deemed to constitute, borrowing;

    • (b) the entities, or classes of entities, whose borrowings must be taken into account; and

    • (c) the manner in which the value of a borrowing is determined.