Jobs and Growth Act, 2012 (S.C. 2012, c. 31)

Marginal note:2010, c. 12, s. 71(1)

• 81. (1) Paragraph 232.01(1)(a) of the Act is replaced by the following:

  • (a) “employer resource” and “specified resource” have the same meanings as in section 172.l;

• (2) Subsection (1) is deemed to have come into force on September 23, 2009.

• 82. (1) Section 240 of the Act is amended by adding the following after subsection (1.1):

  • Marginal note:Prescribed selected listed financial institutions

    (1.2) Every selected listed financial institution that is prescribed is required to be registered for the purposes of this Part.

  • Marginal note:Group registration of selected listed financial institutions

    (1.3) The following rules apply in respect of a prescribed group of selected listed financial institutions:

    • (a) the group is required to be registered for the purposes of this Part;

    • (b) a person that is prescribed in respect of the group must apply to the Minister for registration of the group before the day that is prescribed;

    • (c) each member of the group is deemed to be a registrant for the purposes of this Part; and

    • (d) despite subsections (1) to (1.2), each member of the group is not required to be separately registered.

  • Marginal note:Additional member of group

    (1.4) If a selected listed financial institution becomes, on a particular day, a member of an existing group that is required to be registered for the purposes of this Part or that is registered under this Subdivision, the following rules apply:

    • (a) if the group is required to be registered, the application for the registration of the group under paragraph (1.3)(b) must list the financial institution as a member of the group;

    • (b) if the group is registered, the financial institution or the person that is prescribed in respect of the group for the purpose of paragraph (1.3)(b) must, before the day that is 30 days after the particular day, apply to the Minister to add the financial institution to the registration of the group;

    • (c) the financial institution is deemed to be a registrant for the purposes of this Part as of the particular day; and

    • (d) despite subsections (1) to (1.2), the financial institution is not required to be separately registered as of the particular day.

• Marginal note:1993, c. 27, s. 100(1)

  (2) The portion of subsection 240(2.1) of the Act before paragraph (b) is replaced by the following:

  • Marginal note:Application

    (2.1) A person required under any of subsections (1) to (1.2) to be registered must apply to the Minister for registration before the day that is 30 days after

    • (a) in the case of a person required under subsection (1.1) to be registered in respect of a taxi business, the day the person first makes a taxable supply in Canada in the course of that business;

    • (a.1) in the case of a selected listed financial institution required under subsection (1.2) to be registered, the day that is prescribed; and

• Marginal note:1993, c. 27, s. 100(1)

  (3) Paragraph 240(2.1)(b) of the French version of the Act is replaced by the following:

  • b) dans les autres cas, la date où la personne effectue, autrement qu’à titre de petit fournisseur, une première fourniture taxable au Canada dans le cadre d’une activité commerciale qu’elle y exerce.

• Marginal note:1993, c. 27, s. 100(1)

  (4) The portion of subsection 240(3) of the Act before paragraph (a) is replaced by the following:

  • Marginal note:Registration permitted

    (3) An application for registration for the purposes of this Part may be made to the Minister by any person that is not required under subsection (1), (1.1), (1.2), (2) or (4) to be registered, that is not required to be included in, or added to, the registration of a group under subsection (1.3) or (1.4) and that

• Marginal note:1990, c. 45, s. 12(1)

  (5) Subsection 240(5) of the Act is replaced by the following:

  • Marginal note:Form and contents of application

    (5) An application for registration, or an application to be added to the registration of a group, is to be filed with the Minister in prescribed manner and is to be made in prescribed form containing prescribed information.

• (6) Subsections (1) to (5) are deemed to have come into force on July 1, 2010.

Marginal note:1990, c. 45, s. 12(1); 1993, c. 27, s. 101(1)

• 83. (1) Subsection 241(1) of the Act is replaced by the following:

  Marginal note:Registration

  • 241. (1) The Minister may register any person that applies for registration and, upon doing so, must assign a registration number to the person and notify the person in writing of the registration number and the effective date of the registration.

  • Marginal note:Group registration

    (1.1) If a person applies to register a group of selected listed financial institutions that is prescribed for the purposes of subsection 240(1.3), the Minister may register the group and, upon doing so, the following rules apply:

    • (a) the Minister must assign a registration number to the group and notify in writing the person that is prescribed in respect of the group for the purpose of paragraph 240(1.3)(b) and each financial institution listed on the application of the registration number and the effective date of the registration of the group;

    • (b) for each member of the group that is registered under this Subdivision on the day preceding the effective date, that registration is cancelled as of the effective date of the registration of the group; and

    • (c) each member of the group is deemed, for the purposes of this Part other than section 242, to be registered under this Subdivision as of the effective date of the registration of the group and to have a registration number that is the same as the registration number of the group.

  • Marginal note:Addition of new member to group registration

    (1.2) If an application is made to add a selected listed financial institution to the registration of a group under paragraph 240(1.4)(b), the Minister may add the financial institution to the registration and, upon doing so, the following rules apply:

    • (a) the Minister must notify in writing the person that is prescribed in respect of the group for the purpose of paragraph 240(1.3)(b) and the financial institution of the effective date of the addition to the registration;

    • (b) if the financial institution is registered under this Subdivision on the day preceding the effective date, that registration of the financial institution is cancelled as of the effective date; and

    • (c) the financial institution is deemed, for the purposes of this Part other than section 242, to be registered under this Subdivision as of the effective date and to have a registration number that is the same as the registration number of the group.

• (2) Subsection (1) is deemed to have come into force on July 1, 2010.

• 84. (1) Section 242 of the Act is amended by adding the following after subsection (1):

  • Marginal note:Cancellation of group registration

    (1.1) The Minister may, after giving reasonable written notice to each member of a group that is registered under this Subdivision and to the person that is prescribed in respect of the group for the purposes of paragraph 240(1.3)(b), cancel the registration of the group if the Minister is satisfied that the registration is not required for the purposes of this Part.

  • Marginal note:Cancellation of group registration

    (1.2) The Minister must cancel the registration of a group in prescribed circumstances.

  • Marginal note:Removal from group registration

    (1.3) The Minister may, after giving reasonable written notice to a particular person that is a member of a group that is registered under this Subdivision and to the person that is prescribed in respect of the group for the purposes of paragraph 240(1.3)(b), remove the particular person from the registration of the group if the Minister is satisfied that the particular person is not required to be included in the registration for the purposes of this Part.

  • Marginal note:Removal from group registration

    (1.4) The Minister must remove a person from the registration of a group in prescribed circumstances.

• Marginal note:1993, c. 27, s. 102(2)

  (2) Subsection 242(3) of the Act is replaced by the following:

  • Marginal note:Notice of cancellation or variation

    (3) If the Minister cancels or varies the registration of a person, the Minister must notify the person in writing of the cancellation or variation and its effective date.

  • Marginal note:Group registration — notice of cancellation

    (4) If the Minister cancels the registration of a group,

    • (a) the Minister must notify in writing each member of the group and the person that is prescribed in respect of the group for the purposes of paragraph 240(1.3)(b) of the cancellation and its effective date; and

    • (b) each member of the group is deemed, for the purposes of this Part, to no longer be registered under this Subdivision as of the effective date of the cancellation.

  • Marginal note:Group registration — notice of removal

    (5) If the Minister removes a particular person from the registration of a group,

    • (a) the Minister must notify in writing the particular person and the person that is prescribed in respect of the group for the purposes of paragraph 240(1.3)(b) of the removal and its effective date; and

    • (b) the particular person is deemed, for the purposes of this Part, to no longer be registered under this Subdivision as of the effective date of the removal.

• (3) Subsections (1) and (2) are deemed to have come into force on July 1, 2010.

• 85. (1) The Act is amended by adding the following after section 244:

  Marginal note:Fiscal year — selected listed financial institution

  • 244.1 (1) If a person is a financial institution described in subparagraph 149(1)(a)(vi) or (ix) that is a selected listed financial institution throughout a particular reporting period in a particular fiscal year of the person that begins in a particular calendar year and the person was not a selected listed financial institution throughout the reporting period immediately before the particular reporting period, the following rules apply:

    • (a) the particular fiscal year ends on the last day of the particular calendar year; and

    • (b) as of the beginning of the first day of the calendar year that is immediately after the particular calendar year, the fiscal years of the person are calendar years and any election made by the person under section 244 ceases to have effect.

  • Marginal note:Fiscal year — selected listed financial institution

    (2) Despite subsection (1), if a person is a financial institution described in subparagraph 149(1)(a)(vi) or (ix) that is a selected listed financial institution throughout a particular reporting period in a particular fiscal year of the person, the following rules apply in prescribed circumstances to determine the fiscal year of the person:

    • (a) the particular fiscal year ends on the day immediately before the prescribed day referred to in paragraph (b); and

    • (b) the following fiscal year of the person begins on a prescribed day.

  • Marginal note:Ceasing to be selected listed financial institution

    (3) If a person is a financial institution described in subparagraph 149(1)(a)(vi) or (ix) that is a selected listed financial institution throughout a reporting period in a particular fiscal year and the person is not a selected listed financial institution throughout a reporting period in the following fiscal year of the person, that following fiscal year ends on the day on which it would end in the absence of this section.

• (2) Subsection (1) applies in respect of any fiscal year of a person that ends after 2010, except that in applying subsection 244.1(1) of the Act, as enacted by subsection (1), in respect of any fiscal year that begins before 2011, that subsection of the Act is to be read without reference to “and the person was not a selected listed financial institution throughout the reporting period immediately before the particular reporting period”.