Government of Canada / Gouvernement du Canada
Symbol of the Government of Canada

Search

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

Act current to 2020-06-17 and last amended on 2020-06-12. Previous Versions

AMENDMENTS NOT IN FORCE

  • — 2013, c. 33, s. 228(2)

      • 2006, c. 9, s. 262(2)

         (2) Subsection 85(1.01) of the Act is replaced by the following:

        • Exemption for Canada Pension Plan Investment Board

          (1.01) Divisions I to IV, except for sections 89.8 to 89.92 and 154.01, do not apply to the Canada Pension Plan Investment Board.

  • — 2019, c. 29, s. 276

    • 2002, c. 9, s. 3

      276 Part I of Schedule III to the Financial Administration Act is amended by striking out the following:

      • Canadian Air Transport Security Authority

        Administration canadienne de la sûreté du transport aérien

  • — 2020, c. 1, s. 54

    • 1993, c. 44, s. 156

      54 The portion of subsection 85(2) of the Financial Administration Act before paragraph (a) is replaced by the following:

      • Exemption for RCMP and security services

        (2) Divisions I to IV do not apply to any Crown corporation incorporated or acquired, with the written authorization of the appropriate Minister,

  • — 2020, c. 1, s. 55

    • 1993, c. 44, s. 157

      55 Division V of Part X of the Act is repealed.

  • — 2020, c. 1, s. 56

    • 56 Schedule VII to the Act is amended by adding the following in alphabetical order:

      • Agreement between Canada, the United States of America and the United Mexican States, done at Buenos Aires on November 30, 2018, as amended by the Protocol of Amendment to the Agreement between Canada, the United States of America and the United Mexican States, done at Mexico City on December 10, 2019.
  • — 2020, c. 4, s. 1

      • 1 (1) [In force]

      • (2) Subsection 30(1) of the Act is replaced by the following:

        • Payments urgently required
          • 30 (1) Subject to subsection (1.1), where a payment is urgently required for the public good

            • (a) at any time that Parliament is not in session from the date of a dissolution until 60 days following the date fixed for the return of the writs at the general election immediately following that dissolution, and

            • (b) there is no other appropriation pursuant to which the payment may be made,

            the Governor in Council, on the report of the President of the Treasury Board that there is no appropriation for the payment and the report of the appropriate Minister that the payment is urgently required for the public good, may, by order, direct the preparation of a special warrant to be signed by the Governor General authorizing the payment to be made out of the Consolidated Revenue Fund.

          • No special warrants when Parliament prorogued

            (1.1) The Governor in Council shall not, in the 60 days referred to in subsection (1), direct the preparation of a special warrant referred to in that subsection when Parliament is not in session on any of those days by virtue of the fact that it is prorogued.

      • (3) [In force]

      • (4) Subsection 30(3) of the Act is replaced by the following:

        • Publication and report

          (3) Every warrant issued under this section shall be published in the Canada Gazette within 30 days after it is issued, and a statement showing all warrants issued under this section and the amounts of those warrants shall be laid by the President of the Treasury Board before the House of Commons within 15 days after the commencement of the next ensuing session of Parliament.

  • — 2020, c. 6, s. 8

      • 8 (1) Subsections 60.2(2) to (2.3) of the Financial Administration Act are replaced by the following:

        • Contracts

          (2) Subject to subsection (3), the Minister may, with the Governor in Council’s authorization, enter into, on behalf of Her Majesty in right of Canada, any contract that in the Minister’s opinion is necessary to promote the stability or maintain the efficiency of the financial system in Canada, including such a contract to

          • (a) purchase, acquire, hold, lend or sell or otherwise dispose of securities of an entity;

          • (b) create a charge on, or right or interest in, securities of an entity held by the Minister;

          • (c) make a loan to an entity;

          • (d) provide a line of credit to an entity;

          • (e) guarantee any debt, obligation or financial asset of an entity; or

          • (f) provide loan insurance or credit insurance for the benefit of an entity in respect of any debt, obligation or financial asset of the entity.

      • (2) The portion of subsection 60.2(3) of the Act before paragraph (a) is replaced by the following:

        • Non-application to certain entities

          (3) Paragraph (2)(a) does not apply to

      • (3) Subsections 60.2(4) to (6) of the Act are replaced by the following:

        • Section 90 does not apply

          (4) Section 90 does not apply if the Minister purchases, acquires or sells or otherwise disposes, under paragraph (2)(a), of shares within the meaning of that section.

        • Section 61 and Surplus Crown Assets Act do not apply

          (5) Section 61 and the Surplus Crown Assets Act do not apply if the Minister holds, loans or sells or otherwise disposes of securities under paragraph (2)(a).

        • Payments out of C.R.F.

          (6) Any amount payable under or in connection with a contract entered into under this section may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister, at the times and in the manner that the Minister considers appropriate.

Date modified: