Bill C-8

If you have any questions or comments regarding the accessibility of this publication, please contact us at accessible@parl.gc.ca.

PDF

R.S., c. C-34; R.S., c. 19 (2nd Supp.), s. 19	Competition Act
	*578. The Competition Act* is amended by adding the following after section 29.1:**
Communicati on to Minister of Finance	29.2 (1) Notwithstanding subsection 29(1), the Commissioner may, if requested to do so by the Minister of Finance in accordance with subsection (3), communicate or allow to be communicated to the Minister of Finance any information referred to in subsection (2) that is specifically requested by the Minister of Finance.
Information	(2) The information that may be communicated under this section is
	(a) the identity of any person from whom information was obtained under this Act;
	(b) any information obtained in the course of an inquiry under section 10;
	(c) any information obtained under section 11, 15, 16 or 114;
	(d) any information obtained from a person requesting a certificate under section 102;
	(e) whether notice has been given or information supplied in respect of a particular proposed transaction under section 114; and
	(f) any information collected, received or generated by or on behalf of the Commissioner, including compilations and analyses.
Contents of request	(3) Requests under this section must be in writing and must
	(a) specify the information referred to in any of paragraphs (2)(a) to (f) that is required;
	(b) state that the Minister of Finance requires the information
	(i) to consider a merger or proposed merger under the Bank Act, the Cooperative Credit Associations Act, the Insurance Companies Act or the Trust and Loan Companies Act, or
	(ii) to permit the Minister of Finance to determine whether he or she should provide the Commissioner with a certificate described in paragraph 94(b) in respect of such a merger or proposed merger;
	and
	(c) identify the merger or proposed merger.
Restriction	(4) The information communicated under subsection (1) may be used only for the purpose of making a decision in respect of the merger or proposed merger.
Confidentialit y	(5) No person who performs or has performed duties or functions, in the administration or enforcement of the Bank Act, the Cooperative Credit Associations Act, the Insurance Companies Act or the Trust and Loan Companies Act shall communicate or allow to be communicated to any other person any information communicated under subsection (1), except to other persons who perform those duties or functions.
1991, c. 47, s. 716(2); 1999, c. 2, par. 37(z.8)	579. Paragraph 94(b) of the Act is replaced by the following:
	(b) a merger or proposed merger under the Bank Act, the Cooperative Credit Associations Act, the Insurance Companies Act or the Trust and Loan Companies Act in respect of which the Minister of Finance has certified to the Commissioner the names of the parties and that the merger is in the public interest -or that it would be in the public interest, taking into account any terms and conditions that may be imposed under those Acts.
1991, c. 47, s. 717; 1999, c. 2, par. 37(z.14)	580. Paragraph 113(a.1) of the Act is replaced by the following:
	(a.1) a transaction in respect of which the Minister of Finance has certified to the Commissioner under paragraph 94(b) that it is, or would be, in the public interest;
1998, c. 13	Depository Bills and Notes Act
	*581. The Depository Bills and Notes Act* is amended by adding the following after section 5:**
Payment from assets of partnership, etc.	5.1 For the purposes of sections 4 and 5, an order or a promise to pay is not conditional by reason only that it is limited to payment from the assets of a partnership, unincorporated association, trust or estate.
	582. The Act is amended by adding the following after section 15:
Payment from assets of partnership, etc.	15.1 For the purposes of sections 13, 14 and 15, a depository bill or a depository note whose order or promise to pay is limited to payment from the assets of a partnership, unincorporated association, trust or estate is not dishonoured by its acceptor, drawer or maker if that person provides funds to the clearing house to which it is payable in accordance with the order or promise to pay and section 17.
R.S., c. 32 (2nd Supp.)	Pension Benefits Standards Act, 1985
	*583. Subsection 38(4) of the Pension Benefits Standards Act, 1985* is replaced by the following:**
Limitation period	(4) Proceedings in respect of an offence under this Act may be commenced at any time within, but not later than, two years after the day on which the subject-matter of the proceedings became known to the Superintendent.
Certificate of Superintenden t	(4.1) A document appearing to have been issued by the Superintendent, certifying the day on which the subject-matter of any proceedings became known to the Superintendent, is admissible in evidence without proof of the signature or official character of the person appearing to have signed it and is, in the absence of evidence to the contrary, proof of the matter asserted in it.
	CONSEQUENTIAL AMENDMENTS
R.S., c. A-1	Access to Information Act
	*584. Schedule I to the Access to Information Act* is amended by adding the following in alphabetical order under the heading ``Other Government Institutions'':**
	Financial Consumer Agency of Canada
	Agence de la consommation en matière financière du Canada
	585. Schedule II to the Act is amended by replacing the reference to ``subsections 29(1) and 29.1(5)'' opposite the reference to the Competition Act with a reference to ``subsections 29(1), 29.1(5) and 29.2(5)''.
R.S., c. B-4	Bills of Exchange Act
	*586. Section 164 of the Bills of Exchange Act* is replaced by the following:**
Definition of ``bank''	164. In this Part, ``bank'' includes every member of the Canadian Payments Association established under the Canadian Payments Act and every local cooperative credit society, as defined in that Act, that is a member of a central, as defined in that Act, that is a member of the Canadian Payments Association.
1998, c. 36	Canada Small Business Financing Act
	*587. Paragraphs (a) and (b) of the definition ``lender'' in section 2 of the Canada Small Business Financing Act* are replaced by the following:**
	(a) a member of the Canadian Payments Association, established by subsection 3(1) of the Canadian Payments Act,
	(i) referred to in paragraph 4(1)(b) or (c) or any of paragraphs 4(2)(a) to (c) of that Act, or
	(ii) referred to in any of paragraphs 4(2)(d) to (h) of that Act if the member meets the prescribed conditions;
	(b) a local cooperative credit society, within the meaning of subsection 2(1) of the Canadian Payments Act, that is a member of a central cooperative credit society, within the meaning of that subsection, if that central cooperative credit society is a member of the Canadian Payments Association; or
R.S., c. F-11	Financial Administration Act
	*588. Schedule I.1 to the Financial Administration Act* is amended by adding the following in alphabetical order in column I:**
	Financial Consumer Agency of Canada
	Agence de la consommation en matière financière du Canada
	and a corresponding reference in column II to the ``Minister of Finance''.
R.S., c. 28 (1st Supp.)	Investment Canada Act
1991, c. 46, s. 600	*589. Paragraph 10(1)(h) of the Investment Canada Act* is replaced by the following:**
	(h) any transaction to which section 522.28 of the Bank Act applies;
R.S., c. P-21	Privacy Act
	*590. The schedule to the Privacy Act* is amended by adding the following in alphabetical order under the heading ``Other Government Institutions'':**
	Financial Consumer Agency of Canada
	Agence de la consommation en matière financière du Canada
R.S., c. P-35	Public Service Staff Relations Act
	*591. Part II of Schedule I to the Public Service Staff Relations Act* is amended by adding the following in alphabetical order:**
	Financial Consumer Agency of Canada
	Agence de la consommation en matière financière du Canada
R.S., c. P-36	Public Service Superannuation Act
	*592. Part I of Schedule I to the Public Service Superannuation Act* is amended by adding the following in alphabetical order:**
	Financial Consumer Agency of Canada
	Agence de la consommation en matière financière du Canada
	COMING INTO FORCE
Coming into force	593. The provisions of this Act, other than subsections 120(2), 122(2), 155(2), 157(2), 424(2) and 444(2), section 473 and subsections 545(2) and 547(2), or the provisions of any Act enacted or amended by this Act, come into force on a day or days to be fixed by order of the Governor in Council.
Authority to substitute actual date	594. The Governor in Council may, by regulation, amend any provision of the Bank Act, the Cooperative Credit Associations Act, the Insurance Companies Act or the Trust and Loan Companies Act that contains a reference to the coming into force of any provision of any of those Acts, or a reference to the coming into force of any provision of this Act, by replacing that reference with a reference to the actual date of the coming into force of the provision.