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Bill C-240

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SUMMARY

This enactment will ensure that gifts to the Crown given for the purpose of debt reduction or without designation will be kept as a credit in a special account within the Debt Servicing and Reduction Account and will be applied only to debt reduction and not to deficit reduction, rebates, refunds or remittances.

It also provides that the annual report of the Auditor General of Canada must report on the expenditures from the account.