Bank of Canada Act

Marginal note:Fiscal agent of Canadian Government

• 24 (1) The Bank shall act as fiscal agent of the Government of Canada.

• Marginal note:Charge for acting

  (1.1) With the consent of the Minister, the Bank may charge for acting as fiscal agent of the Government of Canada.

• Marginal note:To manage public debt

  (2) The Bank, if and when required by the Minister to do so, shall act as agent for the Government of Canada in the payment of interest and principal and generally in respect of the management of the public debt of Canada.

• (2.1) If the Minister may, under any other Act of Parliament that expressly authorizes him or her to do so, lend, at the request of an agent corporation as defined in subsection 83(1) of the Financial Administration Act, money out of the Consolidated Revenue Fund to that corporation on any terms and conditions that he or she may fix, the Minister may authorize the Bank to manage the lending of money to that corporation on his or her behalf, on any terms and conditions that he or she may establish.

• Marginal note:Canadian Government cheques to be paid or negotiated at par

  (3) The Bank shall not make any charge for cashing or negotiating a cheque drawn on the Receiver General or on the account of the Receiver General, or for cashing or negotiating any other instrument issued as authority for the payment of money out of the Consolidated Revenue Fund, or on a cheque drawn in favour of the Government of Canada or any of its departments and tendered for deposit in the Consolidated Revenue Fund.