Economic Action Plan 2013 Act, No. 1 (S.C. 2013, c. 33)
Full Document:
Assented to 2013-06-26
Marginal note:2007, c. 29, s. 62
124. Subparagraph 4.2(b)(iii) of the Act is repealed.
Marginal note:2012, c. 19, s. 393
125. The description of A in subparagraph 24.1(1)(a)(v) of the Act is replaced by the following:
- A
- is the average of the annual rates of growth of the nominal gross domestic product of Canada for the calendar year that ends during the fiscal year in question and for the two previous calendar years, as determined by the Minister not later than three months before the beginning of that fiscal year; and
Division 4Payments to Certain Entities or for Certain Purposes
Canadian Youth Business Foundation
Marginal note:Maximum payment of $18,000,000
126. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Industry, a sum not exceeding $18,000,000 to the Canadian Youth Business Foundation for its use.
Genome Canada
Marginal note:Maximum payment of $165,000,000
127. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Industry, a sum not exceeding $165,000,000 to Genome Canada for its use.
Nature Conservancy of Canada
Marginal note:Maximum payment of $20,000,000
128. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of the Environment, a sum not exceeding $20,000,000 to the Nature Conservancy of Canada for its use.
Nunavut Housing
Marginal note:Maximum payment of $30,000,000
129. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Human Resources and Skills Development, in accordance with terms and conditions approved by the Treasury Board, a sum not exceeding $30,000,000 to the Canada Mortgage and Housing Corporation to provide funding to Nunavut for housing.
Indspire
Marginal note:Maximum payment of $5,000,000
130. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Indian Affairs and Northern Development, a sum not exceeding $5,000,000 to Indspire to provide post-secondary scholarships and bursaries for students who are registered as Indians under the Indian Act and for Inuit students.
Pallium Foundation of Canada
Marginal note:Maximum payment of $3,000,000
131. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Health, a sum not exceeding $3,000,000 to the Pallium Foundation of Canada to support training in palliative care to front-line health care providers.
Canadian National Institute for the Blind
Marginal note:Maximum payment of $3,000,000
132. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Human Resources and Skills Development, to the Canadian National Institute for the Blind a sum not exceeding $3,000,000 for a national digital hub to improve library services for persons with a print disability.
Division 52009, c. 2, s. 297Canadian Securities Regulation Regime Transition Office Act
Amendment to the Act
133. Subsections 17(1) to (3) of the Canadian Securities Regulation Regime Transition Office Act are replaced by the following:
Marginal note:Date of dissolution
17. (1) The Governor in Council may, by order, on the recommendation of the Minister, dissolve the Transition Office.
Marginal note:Publication of order
(2) The order shall be published in the Canada Gazette before the date of dissolution referred to in the order.
Repeal
Marginal note:Repeal
134. (1) Order in Council P.C. 2012-341 of March 27, 2012 is repealed.
Marginal note:For greater certainty
(2) For greater certainty, the repeal of the Order does not affect its operation during the period before its repeal.
Coming into Force
Marginal note:Royal assent or July 11, 2013
135. This Division comes into force or is deemed to have come into force on the earlier of the day on which this Act receives royal assent and July 11, 2013.
Division 6R.S., c. 28 (1st Supp.)Investment Canada Act
Amendments to the Act
Marginal note:2009, c 2, s. 446
136. (1) Paragraph (d) of the definition “Canadian” in section 3 of the Investment Canada Act is replaced by the following:
(d) an entity that is Canadian-controlled, as determined under subsection 26(1) or (2) and in respect of which there has been no determination made under any of subsections 26(2.1), (2.11) and (2.31) or declaration made under subsection 26(2.2) or (2.32);
(2) Section 3 of the Act is amended by adding the following in alphabetical order:
“state-owned enterprise”
« entreprise d’État »
“state-owned enterprise” means
(a) the government of a foreign state, whether federal, state or local, or an agency of such a government;
(b) an entity that is controlled or influenced, directly or indirectly, by a government or agency referred to in paragraph (a); or
(c) an individual who is acting under the direction of a government or agency referred to in paragraph (a) or who is acting under the influence, directly or indirectly, of such a government or agency;
Marginal note:1994, c. 47, s. 133
137. (1) Subsection 14.1(1) of the Act is replaced by the following:
Marginal note:Limits for WTO investors
14.1 (1) Despite the limits set out in subsection 14(3), but subject to subsection (1.1), an investment described in paragraph 14(1)(a) or (b) by a WTO investor or — if the Canadian business that is the subject of the investment is, immediately prior to the implementation of the investment, controlled by a WTO investor — by a non-Canadian, other than a WTO investor, is reviewable under section 14 only if the enterprise value, calculated in the manner prescribed, of the assets described in paragraph 14(3)(a) or (b), as the case may be, is equal to or greater than,
(a) for an investment implemented at any time in the year that begins on the day on which this paragraph comes into force, or in the following year, $600,000,000;
(b) for an investment implemented at any time in the two years that begin immediately after the two years referred to in paragraph (a), $800,000,000;
(c) for an investment implemented at any time in the year that begins immediately after the years for which the amount set out in paragraph (b) applies, $1,000,000,000;
(d) for an investment implemented at any time in the period that begins immediately after the year for which the amount set out in paragraph (c) applies and that ends on the following December 31, $1,000,000,000; and
(e) for an investment implemented at any time in the year that begins after the period referred to in paragraph (d), or in any subsequent year, the amount determined under subsection (2).
Marginal note:Limits for WTO investors that are state-owned enterprises
(1.1) Despite the limits set out in subsection 14(3), an investment described in paragraph 14(1)(a) or (b) by a WTO investor that is a state-owned enterprise or — if the Canadian business that is the subject of the investment is, immediately prior to the implementation of the investment, controlled by a WTO investor — by a state-owned enterprise, other than a WTO investor, is reviewable under section 14 only if the value calculated in the manner prescribed, of the assets described in paragraph 14(3)(a) or (b), as the case may be, is equal to or greater than the applicable amount determined under subsection (2).
Marginal note:1994, c. 47, s. 133
(2) The portion of subsection 14.1(2) of the Act before the formula is replaced by the following:
Marginal note:Amount
(2) The amount for any year for the purposes of paragraph (1)(e) and subsection (1.1) shall be determined by the Minister in January of that year by rounding off to the nearest million dollars the amount arrived at by using the following formula:
Marginal note:2009, c. 2, s. 452
138. Subsections 21(2) to (9) of the Act are replaced by the following:
Marginal note:Extension
(2) Subject to subsection (3), if, before the end of the 45-day period referred to in subsection (1), a notice is sent under subsection 25.2(1) in respect of the investment, the period during which the Minister may send the notice referred to in subsection (1) expires 30 days after the end of the prescribed period referred to in subsection 25.3(1) or at the end of any further period that the Minister and the applicant agree on.
Marginal note:Extension
(3) Subject to subsections (4) and (5), if, before the end of the 45-day period referred to in subsection (1), a notice is sent under subsection 25.2(1) in respect of the investment and if, in respect of the investment, an order is made under subsection 25.3(1), the period during which the Minister may send the notice referred to in subsection (1) expires
(a) 30 days after the end of
(i) the prescribed period referred to in subsection 25.3(6) or (7), as the case may be, or
(ii) the further period, if one was agreed on under subsection 25.3(7); or
(b) at the end of any further period that the Minister and the applicant agree on.
Marginal note:Extension
(4) If, before the end of the 45-day period referred to in subsection (1), a notice is sent under subsection 25.2(1) in respect of the investment and if, in respect of the investment, an order is made under subsection 25.3(1) and a notice under paragraph 25.3(6)(b) is sent, the period during which the Minister may send the notice referred to in subsection (1) expires 30 days after the day on which the notice under that paragraph was sent or at the end of any further period that the Minister and the applicant agree on.
Marginal note:Extension
(5) If, before the end of the 45-day period referred to in subsection (1), a notice is sent under subsection 25.2(1) in respect of the investment and if an order is made under subsection 25.3(1) in respect of the investment and the Minister refers the investment to the Governor in Council under paragraph 25.3(6)(a) or subsection 25.3(7), the period during which the Minister may send the notice referred to in subsection (1) expires either 30 days after the earlier of the following days or at the end of any further period that the Minister and the applicant agree on:
(a) the day on which the Governor in Council takes any measure under subsection 25.4(1) or (1.1) in respect of the investment, and
(b) the day on which the prescribed period referred to in subsection 25.4(1) or (1.1), as the case may be, ends.
Marginal note:Extension
(6) Subject to subsections (7) and (8), if, before the end of the 45-day period referred to in subsection (1), an order is made under subsection 25.3(1) in respect of the investment, the period during which the Minister may send the notice referred to in subsection (1) expires
(a) 30 days after the end of
(i) the prescribed period referred to in subsection 25.3(6) or (7), as the case may be, or
(ii) the further period, if one was agreed on under subsection 25.3(7); or
(b) at the end of any further period that the Minister and the applicant agree on.
Marginal note:Extension
(7) If, before the end of the 45-day period referred to in subsection (1), an order is made under subsection 25.3(1) in respect of the investment and if, in respect of the investment, a notice is sent under paragraph 25.3(6)(b), the period during which the Minister may send the notice referred to in subsection (1) expires 30 days after the day on which the notice under that paragraph was sent or at the end of any further period that the Minister and the applicant agree on.
Marginal note:Extension
(8) If, before the end of the 45-day period referred to in subsection (1), an order is made under subsection 25.3(1) in respect of the investment and if the Minister refers the investment to the Governor in Council under paragraph 25.3(6)(a) or subsection 25.3(7), the period during which the Minister may send the notice referred to in subsection (1) expires either 30 days after the earlier of the following days or at the end of any further period that the Minister and the applicant agree on:
(a) the day on which the Governor in Council takes any measure under subsection 25.4(1) or (1.1) in respect of the investment, and
(b) the day on which the prescribed period referred to in subsection 25.4(1) or (1.1), as the case may be, ends.
Marginal note:Minister deemed to be satisfied
(9) Subject to sections 22 and 23, if the Minister does not send a notice under subsection (1) within the 45-day period referred to in that subsection or, if any of subsections (2) to (8) apply, within the 30-day period or agreed further period referred to in the applicable subsection, the Minister is deemed to be satisfied that the investment is likely to be of net benefit to Canada and shall send a notice to that effect to the applicant.
- Date modified: