Bill C-3

TABLE OF PROVISIONS

AN ACT TO IMPLEMENT CERTAIN PROVISIONS OF THE 2011 BUDGET AS UPDATED ON JUNE 6, 2011

SHORT TITLE

1.       Supporting Vulnerable Seniors and Strengthening Canada’s Economy Act

PART 1

AMENDMENTS TO THE INCOME TAX ACT, A RELATED ACT AND A RELATED REGULATION

2–3.       Income Tax Act

4–6.       Canada Disability Savings Act

7–8.       Canada Disability Savings Regulations

PART 2

MEASURES RELATING TO EXCISE DUTIES AND SALES AND EXCISE TAXES

9.       Excise Act, 2001

10–12.       Excise Tax Act

PART 3

OLD AGE SECURITY ACT

13–14.       Amendments

PART 4

PAYMENTS

15.       Genome Canada

16.       Canadian Youth Business Foundation

PART 5

AUDITOR GENERAL ACT

17.       Amendment

PART 6

CANADA STUDENT FINANCIAL ASSISTANCE ACT

18.       Amendments to the Act

19.       Coming into Force

PART 7

MORTGAGE OR HYPOTHECARY INSURANCE

20.       Enactment of Protection of Residential Mortgage or Hypothecary Insurance Act

AN ACT TO AUTHORIZE, IN CERTAIN CIRCUMSTANCES, THE MAKING OF PAYMENTS OR THE PURCHASE OF REPLACEMENT INSURANCE BY HER MAJESTY IN RESPECT OF CERTAIN TYPES OF MORTGAGE OR HYPOTHECARY INSURANCE PROVIDED BY AN INSURANCE COMPANY IN RESPECT OF WHICH A WINDING-UP ORDER IS MADE AND TO TERMINATE CERTAIN AGREEMENTS RELATING TO MORTGAGE OR HYPOTHECARY INSURANCE

SHORT TITLE

1.       Protection of Residential Mortgage or Hypothecary Insurance Act

INTERPRETATION

2.       Definitions

PURPOSES

3.       Purposes

APPROVED MORTGAGE INSURERS

4.       Designation

5.       Suspension of designation

6.       Cancellation of designation

7.       Company never designated

8.       Adequacy of capital

9.       Fees for risk exposure

10.       Designation of qualified mortgage lenders

11.       Insurance restricted

12.       Subsidiaries

13.       Conditions and undertakings — business with affiliates, etc.

14.       Prohibited policies — affiliates, etc.

15.       Obligation to retain information, books and records

MORTGAGE OR HYPOTHECARY INSURANCE PROTECTION

16.       Minister’s obligations

17.       Minister’s discretion

18.       Ineligible mortgage loan

19.       Pre-existing contracts

20.       Subrogation

21.       Subrogation — subsection 16(2)

22.       Calculation of amount — event has occurred

23.       Replacement insurance

24.       Satisfaction of future claims

25.       Affiliates, etc.

26.       Time of payment — subsection 16(2)

PROTECTED LOAN LIMIT

27.       Limit

28.       Allocation of limit

EXAMINATION AND REPORTING

29.       Examination

30.       Notice to Minister

31.       Court order to comply

32.       Notice to Minister — section 27

SANCTIONS

33.       Offence

34.       False or misleading information

35.       Punishment

36.       Liability of officers, directors, etc.

37.       Limitation period or prescription

38.       Appeal with leave

39.       Recovery and application of fines

LEGAL PROCEEDINGS

40.       No liability

REGULATIONS

41.       Regulations

42.       Ministerial regulations

TERMINATION OF AGREEMENTS

43.       Definition of “agreement”

44.       Agreements are terminated

45.       No liability

46.       No compensation

47.       Obligation to send statement

48.       Ownership

21.       Consequential Amendment — Budget Implementation Act, 2006

22–24.       Consequential Amendments — National Housing Act

25.       Consequential Amendment — Office of the Superintendent of Financial Institutions Act

26.       Coming into Force

PART 8

FEDERAL-PROVINCIAL FISCAL ARRANGEMENTS ACT

27–29.       Amendments

PART 9

INSURANCE COMPANIES ACT

30–31.       Amendments

PART 10

ASSESSMENT OF FINANCIAL INSTITUTIONS REGULATIONS, 2001

32.       Amendment to the Regulations

33.       Validation

PART 11

FINANCIAL ADMINISTRATION ACT

34–35.       Amendments to the Act

36.       Coming into Force

PART 12

CANADA SHIPPING ACT, 2001

37–44.       Amendments to the Act

45.       Consequential Amendment to the Coasting Trade Act