Budget Implementation Act, 2016, No. 1 (S.C. 2016, c. 7)
Full Document:
Assented to 2016-06-22
1996, c. 6, sch.Payment Clearing and Settlement Act
Marginal note:2012, c. 31, s. 169(2)
165 Subsection 8(3.1) of the Payment Clearing and Settlement Act is replaced by the following:
Marginal note:Sections 39.15 and 39.152 of Canada Deposit Insurance Corporation Act
(3.1) Despite subsections (1) to (3) and the settlement rules,
(a) no action may be taken in respect of an eligible financial contract, as defined in subsection 39.15(9) of the Canada Deposit Insurance Corporation Act, if it is prevented by subsection 39.15(7.01), (7.1), (7.11), (7.12) or (7.2) or section 39.152 of that Act; and
(b) a clearing house, as defined in subsection 39.15(9) of the Canada Deposit Insurance Corporation Act, shall comply with subsection 39.15(3.3) of that Act, shall take any action required by subsection 39.15(7.12) of that Act and shall not take any action prevented by that subsection 39.15(7.12).
Marginal note:2012, c. 31, s. 170(3)
166 Subsection 13(1.2) of the Act is replaced by the following:
Marginal note:Sections 39.15 and 39.152 of Canada Deposit Insurance Corporation Act
(1.2) Despite subsections (1) and (1.1), no action may be taken in respect of an eligible financial contract, as defined in subsection 39.15(9) of the Canada Deposit Insurance Corporation Act, if it is prevented by subsection 39.15(7.01), (7.1), (7.11), (7.12) or (7.2) or section 39.152 of that Act.
Marginal note:2012, c. 31, s. 171(2)
167 Subsection 13.1(1.1) of the Act is replaced by the following:
Marginal note:Sections 39.15 and 39.152 of Canada Deposit Insurance Corporation Act
(1.1) Despite subsection (1), no action may be taken in respect of an eligible financial contract, as defined in subsection 39.15(9) of the Canada Deposit Insurance Corporation Act, if it is prevented by subsection 39.15(7.01), (7.1), (7.11), (7.12) or (7.2) or section 39.152 of that Act.
Coming into Force
Marginal note:Order in council
168 (1) Sections 128, 158, 160 and 162 come into force on a day to be fixed by order of the Governor in Council.
Marginal note:Order in council
(2) Subsections 131(6), 133(3) and 139(5) and (6), sections 140, 142 and 147 and subsection 148(2) come into force on a day to be fixed by order of the Governor in Council.
DIVISION 6Chief Executive Officer of the Canada Deposit Insurance Corporation
R.S., c. 18 (3rd Supp.), Part IOffice of the Superintendent of Financial Institutions Act
Marginal note:1996, c. 6, s. 108 (E)
169 Paragraph 18(1)(c) of the Office of the Superintendent of Financial Institutions Act is replaced by the following:
(c) the Chief Executive Officer of the Canada Deposit Insurance Corporation; and
R.S., c. C-21; 2001, c. 9, s. 218Canadian Payments Act
Marginal note:2001, c. 9, s. 244
170 Paragraph 43(2)(c) of the Canadian Payments Act is replaced by the following:
(c) the Chief Executive Officer of the Canada Deposit Insurance Corporation or any other officer of that Corporation authorized in writing by the Chief Executive Officer,
R.S., c. N-11National Housing Act
Marginal note:2012, c. 19, s. 351
171 The definition Chairperson of the Canada Deposit Insurance Corporation in section 7 of the National Housing Act is repealed.
Marginal note:2011, c. 15, s. 24; 2012, c. 19, s. 358
172 Subsection 21.1(3) of the Act is replaced by the following:
Marginal note:Power to disclose
(3) The Minister of Finance may disclose to the Superintendent, the Governor of the Bank of Canada, the Chief Executive Officer of the Canada Deposit Insurance Corporation and the Commissioner of the Financial Consumer Agency of Canada any information or copies of any books or records received under subsection (2).
Marginal note:2011, c. 15, s. 24; 2012, c. 19, s. 358
173 Paragraph 21.2(7)(c) of the Act is replaced by the following:
(c) the Chief Executive Officer of the Canada Deposit Insurance Corporation; and
1991, c. 45Trust and Loan Companies Act
Marginal note:2009, c. 2, s. 292
174 Paragraph 527.9(2)(b) of the Trust and Loan Companies Act is replaced by the following:
(b) is of the opinion — after considering measures other than an order under that subsection and after consulting with the Superintendent, the Governor of the Bank of Canada and the Chief Executive Officer of the Canada Deposit Insurance Corporation — that the order will promote the stability of the financial system in Canada.
1991, c. 46Bank Act
Marginal note:2009, c. 2, s. 275
175 Paragraph 973.2(2)(b) of the Bank Act is replaced by the following:
(b) is of the opinion — after considering measures other than an order under that subsection and after consulting with the Superintendent, the Governor of the Bank of Canada and the Chief Executive Officer of the Canada Deposit Insurance Corporation — that the order will promote the stability of the financial system in Canada.
1991, c. 47Insurance Companies Act
Marginal note:2009, c. 2, s. 287
176 Paragraph 1016.7(2)(b) of the Insurance Companies Act is replaced by the following:
(b) is of the opinion — after considering measures other than an order under that subsection and after consulting with the Superintendent, the Governor of the Bank of Canada and the Chief Executive Officer of the Canada Deposit Insurance Corporation — that the order will promote the stability of the financial system in Canada.
1991, c. 48Cooperative Credit Associations Act
Marginal note:2009, c. 2, s. 279
177 Paragraph 459.9(2)(b) of the Cooperative Credit Associations Act is replaced by the following:
(b) is of the opinion — after considering measures other than an order under that subsection and after consulting with the Superintendent, the Governor of the Bank of Canada and the Chief Executive Officer of the Canada Deposit Insurance Corporation — that the order will promote the stability of the financial system in Canada.
1996, c. 6, sch.Payment Clearing and Settlement Act
Marginal note:2014, c. 39, s. 372(2)
178 Paragraph 18(2)(b) of the Payment Clearing and Settlement Act is replaced by the following:
(b) to the Deputy Minister of Finance or any officer of the Department of Finance authorized in writing by the Deputy Minister of Finance or to the Chief Executive Officer of the Canada Deposit Insurance Corporation or any other officer of that Corporation authorized in writing by the Chief Executive Officer.
2011, c. 15, s. 20Protection of Residential Mortgage or Hypothecary Insurance Act
179 Subsection 15(3) of the Protection of Residential Mortgage or Hypothecary Insurance Act is replaced by the following:
Marginal note:Disclosure of information
(3) The Minister and the Superintendent may disclose to each other any information or copies of any books or records received under subsection (2) and may also disclose them to the Governor of the Bank of Canada, the Chief Executive Officer of the Canada Deposit Insurance Corporation and the Commissioner of the Financial Consumer Agency of Canada.
DIVISION 7R.S., c. F-8Federal-Provincial Fiscal Arrangements Act
Marginal note:2013, c. 33, s. 122(5)
180 (1) Paragraph (a) of the definition gross expenditure base in subsection 4(1) of the Federal-Provincial Fiscal Arrangements Act is replaced by the following:
Marginal note:2007, c. 29, s. 62
(2) Subsection 4(2) of the Act is replaced by the following:
Marginal note:Redetermination — gross expenditure base for 2016-2017
(2) For the purposes of the definition gross expenditure base in subsection (1), the Minister may, at any time during the fiscal year beginning on April 1, 2016, recalculate the amount determined to be the gross expenditure base in respect of a territory for that fiscal year using the following population adjusted gross expenditure escalator:
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