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Version of document from 2006-03-22 to 2008-02-27:

Receipt and Deposit of Public Money Regulations, 1997

SOR/98-128

FINANCIAL ADMINISTRATION ACT

Registration 1998-02-23

Receipt and Deposit of Public Money Regulations, 1997

T.B. 825983-2 1998-02-19

The Treasury Board, pursuant to section 17Footnote a of the Financial Administration Act, hereby makes the annexed Receipt and Deposit of Public Money Regulations, 1997.

Interpretation

 The definitions in this section apply in these Regulations.

Act

Act means the Financial Administration Act. (Loi)

financial institution

financial institution means an institution, corporation or other entity, incorporated, continued or formed by or under an Act of Parliament or the legislature of a province or under the laws of a foreign state or a political subdivision of that state, that holds deposits and honours cheques and other instructions for payment on behalf of its clients and includes a bank, a trust company and a cooperative credit society. (institution financière)

Record of Receipts and Deposits

 Every person who collects or receives public money shall

  • (a) record the following information in a register kept for that purpose:

    • (i) the date of every receipt and deposit,

    • (ii) the amounts received, deposited or withheld, and

    • (iii) all other information required for identification or audit purposes; and

  • (b) on request, or if directed to do so by the appropriate Minister, issue a receipt or acknowledgment for any public money collected or received.

Crediting the Receiver General

 All public money collected or received must be deposited to the credit of the Receiver General with the Bank of Canada or one of its agencies or a branch of a financial institution

  • (a) forthwith, if the money is received electronically;

  • (b) once a day, if the money is received by other than electronic means, or, if it is not cost effective to do so,

    • (i) once a week, or

    • (ii) in exceptional circumstances and if authorized by the Receiver General, once a month.

Chargeback and Withholding of Public Money

  •  (1) Any person referred to in paragraph 17(5)(b) of the Act may, if an instruction for payment has been dishonoured after having been credited to the Receiver General, charge the amount of the instruction for payment back to the Receiver General

    • (a) by debiting the account into which the instruction for payment was originally credited to the Receiver General with that amount; and

    • (b) providing the Receiver General with confirmation of the amount that is charged back.

  • (2) The Receiver General shall inform the appropriate minister of any amounts charged back under subsection (1).

 Every person who collects or receives public money is authorized to withhold their fees or commissions from payments of that money to the credit of the Receiver General if the fees or commissions are determined in accordance with

  • (a) an enactment, as defined in the Interpretation Act; or

  • (b) a contractual arrangement entered into by Her Majesty and that person and are in the form of

    • (i) a lump sum,

    • (ii) a percentage of each amount collected or received, or

    • (iii) a flat-rate amount for each amount collected or received.

Repeal

 [Repeal]

Coming into Force

 These Regulations come into force on February 23, 1998.

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