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.
Return to footnote aS.C. 1991, c. 24
1 The definitions in this section apply in these Regulations.
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
2 Every person who collects or receives public money shall
(a) record the following information in a register kept for that purpose:
(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
3 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,
Chargeback and Withholding of Public Money
4 (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
(2) The Receiver General shall inform the appropriate minister of any amounts charged back under subsection (1).
5 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
(b) a contractual arrangement entered into by Her Majesty and that person and are in the form of
Coming into Force
7 These Regulations come into force on February 23, 1998.
- Date modified: