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

Marginal note:Annual report

• 150 (1) Each parent Crown corporation shall, as soon as possible, but in any case within three months, after the termination of each financial year submit an annual report on the operations of the corporation in that year concurrently to the appropriate Minister and the President of the Treasury Board, and the appropriate Minister shall cause a copy of the report to be laid before each House of Parliament on any of the first fifteen days on which that House is sitting after he receives it.

• Marginal note:Reference to committee

  (2) An annual report laid before Parliament pursuant to subsection (1) stands permanently referred to such committee of Parliament as may be designated or established to review matters relating to the businesses and activities of the corporation submitting the report.

• Marginal note:Form and contents

  (3) The annual report of a parent Crown corporation shall include

  • (a) the financial statements of the corporation referred to in section 131,

  • (b) the annual auditor’s report referred to in subsection 132(1),

  • (c) a statement on the extent to which the corporation has met its objectives for the financial year,

  • (d) such quantitative information respecting the performance of the corporation, including its wholly-owned subsidiaries, if any, relative to the corporation’s objectives as the Treasury Board may require to be included in the annual report, and

  • (e) such other information as is required by this Act or any other Act of Parliament, or by the appropriate Minister, the President of the Treasury Board or the Minister of Finance, to be included in the annual report,

  and shall be prepared in a form that clearly sets out information according to the major businesses or activities of the corporation and its wholly-owned subsidiaries, if any.

• Marginal note:Idem

  (4) In addition to any other requirements under this Act or any other Act of Parliament, the Treasury Board may, by regulation, prescribe the information to be included in annual reports and the form in which that information is to be prepared.