BILL C-57 (Royal Assent)

	42-43 ELIZABETH II
	CHAPTER 47
	An Act to implement the Agreement Establishing the World Trade Organization
	[Assented to 15th December, 1994]

Preamble	Whereas the Government of Canada together with the other governments and the European Communities that participated in the Uruguay Round of Multilateral Trade Negotiations under the General Agreement on Tariffs and Trade (herein referred to as GATT) have entered into the Agreement Establishing the World Trade Organization;
	Whereas free, fair and open trade is essential for the future of the Canadian economy and for securing the competitiveness and long-term sustainable development of Canada;
	Whereas trade expansion contributes to job creation, achieves higher standards of living, offers greater choices for consumers and strengthens the Canadian economic union;
	Whereas the multilateral trading system of mutually agreed upon market access conditions and non-discriminatory trade rules applicable to all, is the cornerstone of Canadian trade policy;
	Whereas the trade agreements achieved under the Uruguay Round of Multilateral Trade Negotiations under the GATT will lead to a significantly more open and stable international trading environment for Canadian agriculture, resources, manufacturing, services, technology and investment;
	Whereas the World Trade Organization will provide for integrated management of the new and strengthened multilateral trading system, particularly for the resolution of trade disputes;
	Whereas the World Trade Organization, as successor to the GATT, will also provide the forum for future trade negotiations aimed at furthering trade liberalization world-wide and the development of new global trade rules;
	And whereas it is necessary, in order to give effect to the Agreement, to make related or consequential amendments to certain Acts;
	Now, therefore, Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:

	SHORT TITLE
Short title	1. This Act may be cited as the World Trade Organization Agreement Implementation Act.
	INTERPRETATION
Definitions	2. (1) In this Act,
``Agreement'' «Accord»	``Agreement'' means the Agreement Establishing the World Trade Organization, including
	(a) the agreements set out in Annexes 1A, 1B, 1C, 2 and 3 to that Agreement, and
	(b) the agreements set out in Annex 4 to that Agreement that have been accepted by Canada,
	all forming an integral part of the Final Act Embodying The Results Of The Uruguay Round Of Multilateral Trade Negotiations, signed at Marrakesh on April 15, 1994;
``federal law'' « texte législatif fédéral »	``federal law'' means the whole or any portion of any Act of Parliament or any regulation, order or other instrument issued, made or established in the exercise of a power conferred by or under an Act of Parliament;
``Minister'' « ministre »	``Minister'', in respect of any provision of this Act, means the member of the Queen's Privy Council for Canada designated as the Minister for the purposes of that provision under section 9;
``World Trade Organization'' «Organisation mondiale du commerce »	``World Trade Organization'' means the World Trade Organization established by Article I of the Agreement;
``WTO Member'' «membre de l'OMC»	``WTO Member'' means a Member of the World Trade Organization.
Publication of Agreement	(2) The Agreement shall be published in the Canada Treaty Series.
	PURPOSE
Purpose	3. The purpose of this Act is to implement the Agreement.
	HER MAJESTY
Binding on Her Majesty	4. This Act is binding on Her Majesty in right of Canada.
	GENERAL
Prohibition of private cause of action under Part I	5. No person has any cause of action and no proceedings of any kind shall be taken, without the consent of the Attorney General of Canada, to enforce or determine any right or obligation that is claimed or arises solely under or by virtue of Part I or any order made under Part I.
Prohibition of private cause of action under Agreement	6. No person has any cause of action and no proceedings of any kind shall be taken, without the consent of the Attorney General of Canada, to enforce or determine any right or obligation that is claimed or arises solely under or by virtue of the Agreement.
Non-applicati on of Agreement to water	7. (1) For greater certainty, nothing in this Act or the Agreement, except the Canadian Schedule to the General Agreement on Tariffs and Trade 1994 set out in Annex 1A to the Agreement, applies to water.
Definition of ``water''	(2) In this section, ``water'' means natural surface and ground water in liquid, gaseous or solid state, but does not include water packaged as a beverage or in tanks.
	PART I
	IMPLEMENTATION OF AGREEMENT GENERALLY
	Approval of Agreement
Agreement approved	8. The Agreement is hereby approved.
	Designation of Minister
Order designating Minister	9. The Governor in Council may, by order, designate any member of the Queen's Privy Council for Canada to be the Minister for the purposes of any provision of this Act.
	World Trade Organization
Ministerial Conference	10. The Governor in Council may appoint any member of the Queen's Privy Council for Canada to be the representative of Canada in respect of the Ministerial Conference established under Article IV of the Agreement.
Committees and bodies	11. The Minister may appoint any person to be the representative of Canada on any committee, council or body, other than the Ministerial Conference referred to in section 10, that is or may be established under the Agreement.
Payment of expenditures	12. The Government of Canada shall pay its appropriate share of the aggregate of any expenditures incurred by or on behalf of the World Trade Organization.
	Orders
Orders re suspension of concessions	13. (1) The Governor in Council may, for the purpose of suspending in accordance with the Agreement the application to a WTO Member of concessions or obligations of equivalent effect pursuant to Article 22 of the Understanding on Rules and Procedures Governing the Settlement of Disputes set out in Annex 2 to the Agreement, by order, do any one or more of the following:
	(a) suspend rights or privileges granted by Canada to that Member or to goods, service providers, suppliers, investors or investments of that Member under the Agreement or any federal law;
	(b) modify or suspend the application of any federal law with respect to that Member or to goods, service providers, suppliers, investors or investments of that Member;
	(c) extend the application of any federal law to that Member or to goods, service providers, suppliers, investors or investments of that Member; and
	(d) take any other measure that the Governor in Council considers necessary.
Suspension of concessions to non-WTO Members	(2) The Governor in Council may, with respect to a country that is not a WTO Member, by order, do any one or more of the following:
	(a) suspend rights or privileges granted by Canada to that country or to goods, service providers, suppliers, investors or investments of that country under any federal law;
	(b) modify or suspend the application of any federal law with respect to that country or to goods, service providers, suppliers, investors or investments of that country;
	(c) extend the application of any federal law to that country or to goods, service providers, suppliers, investors or investments of that country; and
	(d) take any other measure that the Governor in Council considers necessary.
Period of order	(3) Unless repealed, an order made under subsection (1) or (2) shall have effect for such period as is specified in the order.
Definition of ``country''	(4) In this section, ``country'' includes any state or separate customs territory that may, under the Agreement, become a WTO Member.
	PART II
	RELATED AND CONSEQUENTIAL AMENDMENTS
1991, c. 46 [c. B-1.01]	Bank Act
	*14. (1) Paragraph 39(1)(c) of the Bank Act* is repealed.**
	(2) Paragraph 39(2)(c) of the English version of the Act is replaced by the following:
	(c) with respect to any matter described in any of paragraphs (1)(d) to (f), two years.
	15. Paragraphs 160(e) and (f) of the Act are replaced by the following:
	(e) a person who holds shares of the bank where, by section 388 or 400, the person is prohibited from exercising the voting rights attached thereto;
	(f) a person who is an officer, director or full time employee of an entity that holds shares of the bank where, by section 388 or 400, the entity is prohibited from exercising the voting rights attached thereto;
	16. (1) Paragraph 231(1)(c) of the Act is repealed.
	(2) Paragraph 231(2)(c) of the English version of the Act is replaced by the following:
	(c) with respect to any matter described in any of paragraphs (1)(d) to (f), two years.
1993, c. 44, s. 24	17. Sections 372.1 and 373 of the Act are replaced by the following:
Schedule II banks - first ten years	373. (1) Subject to section 377, a person may have a significant interest in any class of shares of a bank named in Schedule II at any time prior to the day that is ten years after the day the bank came into existence.
Activities of a non-financial nature	(2) With respect to an application by any person to incorporate a bank named in Schedule II or to acquire a significant interest in any class of shares of such a bank, the Minister, in deciding whether to approve the incorporation or the acquisition, may, in addition to any other matters to be taken into account pursuant to this Act, take into account any activities of the person of a non-financial nature.
	18. The Act is amended by adding the following after section 378:
Exception for small holdings	378.1 Notwithstanding section 378, where, as a result of a transfer or issue of shares of a class of shares of a bank to a person, the total number of shares of that class registered in the securities register of the bank in the name of that person
	(a) would not exceed five thousand, and
	(b) would not exceed 0.1 per cent of the outstanding shares of that class,
	the bank is entitled to assume that no person is acquiring or increasing a significant interest in that class of shares of the bank as a result of that issue or transfer of shares.
1991, c. 47, s. 757; 1993, c. 44, ss. 25, 26	19. The headings before section 396.1 and sections 396.1 and 397 of the Act are repealed.
	20. Section 399 of the Act is repealed.
	21. (1) Subsection 400(1) of the Act is repealed.
	(2) Subsection 400(3) of the Act is repealed.
	(3) Subsection 400(4) of the Act is replaced by the following:
Idem	(4) Subsection (2) does not apply to a person who has a significant interest in a class of shares of a bank named in Schedule II pursuant to subsection 398(2).
	22. Section 401 of the Act is repealed.
	23. Section 407 of the Act is repealed.
1993, c. 44, s. 28	24. Section 422.1 of the Act is replaced by the following:
Definition of ``non-NAFTA country bank subsidiary''	422.1 In section 422.2, ``non-NAFTA country bank subsidiary'' means a foreign bank subsidiary that is not controlled by a NAFTA country resident.
1993, c. 44, s. 28	25. Sections 422.3 to 424 of the Act are repealed.
1993, c. 44, s. 29	26. Subsections 508(2.1) to (3) of the Act are replaced by the following:
Accessing accounts	(3) Nothing in subsection (1) shall be construed as prohibiting a foreign bank from entering into any arrangement with one or more Canadian financial institutions whereby customers of the foreign bank who are natural persons who are not ordinarily resident in Canada may access in Canada their accounts located outside Canada through the use of automated banking machines located in Canada and operated by the Canadian financial institution or institutions.

42-43 ELIZABETH II

CHAPTER 47