Bill C-45

Bank Act

109. Paragraph 160(f.1) of the Bank Act is replaced by the following:

(f.1) a person who is an officer, director, employee or agent of — or any other person acting on behalf of — an eligible agent within the meaning of subsection 370(1);

110. Section 381 of the Act is replaced by the following:

381. Despite section 379, if, as a result of a transfer or issue of shares of a class of shares of a bank to a person, other than an eligible agent, the total number of shares of that class registered in the securities register of the bank in the name of that person would not exceed 5,000 and would not exceed 0.1% 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.

111. Section 382 of the Act is amended by adding the following after subsection (3):

(3.1) If the person referred to in subsection (1) is an eligible agent or an entity controlled by an eligible agent, then the Minister may reduce the percentage referred to in subsection (2) or (3).

112. Paragraph 383(1)(b) of the Act is replaced by the following:

(b) a person, other than an eligible agent, who controls, within the meaning of paragraph 3(1)(a), the bank acquires additional shares of the bank.

113. The portion of subsection 396(2) of the Act before paragraph (a) is replaced by the following:

(2) Except for an application by an eligible agent for an approval under section 373, and subject to subsection 377(1), the Minister shall take into account only paragraph (1)(d) if the application is in respect of a transaction that would result in the applicant or applicants holding

114. Subsection 399(2) of the Act is replaced by the following:

(2) Subject to subsections (4) and 400(2), the notice referred to in paragraph (1)(a) or (b) shall be sent by the Minister within a period of 45 days after the certified date referred to in subsection 398(1) in the following cases:

(a) the application involves the acquisition of control of a bank;

(b) the application is made by an eligible agent or an entity controlled by an eligible agent; or

(c) an application is made for the approval referred to in subsection 401.2(3).

115. Subsection 400(2) of the English version of the Act is replaced by the following:

(2) If, after receipt of the notice sent in accordance with subsection 399(2) that the Minister is not satisfied that the transaction to which the application relates should be approved, the applicant advises the Minister that the applicant wishes to make representations, the Minister must provide the applicant with a reasonable opportunity within a period of 45 days after the date of the notice, or within any further period that may be agreed on by the applicant and the Minister, to make representations in respect of the matter.

116. (1) Section 401.2 of the Act is amended by adding the following after subsection (2):

(2.1) Subsection (2) does not permit a bank to record in its securities register a transfer or issue of any share of the bank to a foreign bank that is a foreign bank by reason only of paragraph (f) of the definition “foreign bank” in section 2.

(2) Subsection 401.2(4) of the Act is replaced by the following:

(4) The application for the approval referred to in subsection (3) must be made jointly by the bank and the eligible agent.

(5) The Minister, in determining whether to grant the approval referred to in subsection (3), shall take into account all matters that he or she considers relevant, including those set out in paragraphs 396(1)(a) to (h).

(6) If an approval referred to in subsection (3) is revoked, the bank shall delete any entry in its securities register in respect of the recording of the issuance of shares to the eligible agent.

(7) If a bank or an eligible agent fails to comply with any undertaking or term or condition in relation to an approval referred to in subsection (3), or if an eligible agent ceases to be an eligible agent, the Minister may, if the Minister considers it to be in the public interest to do so, by order, direct the eligible agent or former eligible agent and any person controlled by the eligible agent or former eligible agent to dispose of any number of shares of the bank beneficially owned by the eligible agent or former eligible agent or the persons controlled by the eligible agent or former eligible agent that the Minister specifies in the order, within the time specified in the order and in the proportion, if any, as between the eligible agent or former eligible agent and the persons controlled by the eligible agent or former eligible agent that is specified in the order.

(8) No direction shall be made under subsection (7) unless the Minister has provided each person to whom the direction relates and the bank concerned with a reasonable opportunity to make representations in respect of the subject-matter of the direction.

(9) Any person with respect to whom a direction has been made under subsection (7) may, within 30 days after the date of the direction, appeal the matter in accordance with section 977.

117. Section 401.3 of the Act is amended by adding the following after subsection (3):

(4) If an approval referred to in subsection 401.2(3) is suspended, the eligible agent shall not exercise, in person or by proxy, any voting rights attached to any share of the bank that is beneficially owned by the eligible agent.

118. Subsection 403(1) of the Act is replaced by the following:

403. (1) If a person fails to comply with a direction made under subsection 401.2(7) or 402(1), an application on behalf of the Minister may be made to a court for an order to enforce the direction.

119. Paragraph 750(f.1) of the Act is replaced by the following:

(f.1) a person who is an officer, director, employee or agent of — or any other person acting on behalf of — an eligible agent within the meaning of subsection 370(1);

120. Section 889 of the Act is replaced by the following:

889. Despite section 887, if, as a result of a transfer or issue of shares of a class of shares of a bank holding company to a person, other than an eligible agent, the total number of shares of that class registered in the securities register of the bank holding company in the name of that person would not exceed 5,000 and would not exceed 0.1% of the outstanding shares of that class, the bank holding company is entitled to assume that no person is acquiring or increasing a significant interest in that class of shares of the bank holding company as a result of that issue or transfer of shares.

121. Section 890 of the Act is amended by adding the following after subsection (3):

(3.1) If the person referred to in subsection (1) is an eligible agent or an entity controlled by an eligible agent, then the Minister may reduce the percentage referred to in subsection (2) or (3).

122. Paragraph 891(1)(b) of the Act is replaced by the following:

(b) a person, other than an eligible agent, who controls, within the meaning of paragraph 3(1)(a), the bank holding company acquires additional shares of the bank holding company.

123. The portion of subsection 906(2) of the Act before paragraph (a) is replaced by the following:

(2) Except for an application by an eligible agent for an approval under section 875, and subject to subsection 882(1), the Minister shall take into account only paragraph (1)(d) if the application is in respect of a transaction that would result in the applicant or applicants holding

124. Subsection 909(2) of the Act is replaced by the following:

(2) Subject to subsections (4) and 910(2), the notice referred to in paragraph (1)(a) or (b) shall be sent by the Minister within a period of 45 days after the certified date referred to in subsection 908(1) in the following cases:

(a) the application involves the acquisition of control of a bank holding company;

(b) the application is made by an eligible agent or an entity controlled by an eligible agent; or

(c) an application is made for the approval referred to in subsection 913(3).

125. Subsection 910(2) of the English version of the Act is replaced by the following:

(2) If, after receipt of the notice sent in accordance with subsection 909(2) that the Minister is not satisfied that the transaction to which the application relates should be approved, the applicant advises the Minister that the applicant wishes to make representations, the Minister must provide the applicant with a reasonable opportunity within a period of 45 days after the date of the notice, or within any further period that may be agreed on by the applicant and the Minister, to make representations in respect of the matter.

126. (1) Section 913 of the Act is amended by adding the following after subsection (2):

(2.1) Subsection (2) does not permit a bank holding company to record in its securities register a transfer or issue of any share of the bank holding company to a foreign bank that is a foreign bank by reason only of paragraph (f) of the definition “foreign bank” in section 2.

(2) Subsection 913(4) of the Act is replaced by the following:

(4) The application for the approval referred to in subsection (3) must be made jointly by the bank holding company and the eligible agent.

(5) The Minister, in determining whether to grant the approval referred to in subsection (3), shall take into account all matters that he or she considers relevant, including those set out in paragraphs 906(1)(a) to (g).

(6) If an approval referred to in subsection (3) is revoked, the bank holding company shall delete any entry in its securities register in respect of the recording of the issuance of shares to the eligible agent.

(7) If a bank holding company or an eligible agent fails to comply with any undertaking or term or condition in relation to an approval referred to in subsection (3), or if an eligible agent ceases to be an eligible agent, the Minister may, if the Minister considers it to be in the public interest to do so, by order, direct the eligible agent or former eligible agent and any person controlled by the eligible agent or former eligible agent to dispose of any number of shares of the bank holding company beneficially owned by the eligible agent or former eligible agent or the persons controlled by the eligible agent or former eligible agent that the Minister specifies in the order, within the time specified in the order and in the proportion, if any, as between the eligible agent or former eligible agent and the persons controlled by the eligible agent or former eligible agent that is specified in the order.

(8) No direction shall be made under subsection (7) unless the Minister has provided each person to whom the direction relates and the bank holding company concerned with a reasonable opportunity to make representations in respect of the subject-matter of the direction.

(9) Any person with respect to whom a direction has been made under subsection (7) may, within 30 days after the date of the direction, appeal the matter in accordance with section 977.

127. Section 914 of the Act is amended by adding the following after subsection (3):

(4) If an approval referred to in subsection 913(3) is suspended, the eligible agent shall not exercise, in person or by proxy, any voting rights attached to any share of the bank holding company that is beneficially owned by the eligible agent.

128. Section 916 of the French version of the Act is replaced by the following:

129. Subsection 917(1) of the Act is replaced by the following:

917. (1) If a person fails to comply with a direction made under subsection 913(7) or 915(1), an application on behalf of the Minister may be made to a court for an order to enforce the direction.

130. Subsection 977(1) of the Act is replaced by the following:

977. (1) An appeal lies to the Federal Court from any direction of the Minister made under subsection 401.2(7), 402(1), 913(7) or 915(1).

Insurance Companies Act

131. Paragraph 168(1)(f.1) of the Insurance Companies Act is replaced by the following:

(f.1) a person who is an officer, director, employee or agent of — or any other person acting on behalf of — an eligible agent within the meaning of section 406.1;

132. Section 408.1 of the Act is replaced by the following:

408.1 Despite section 408, if, as a result of a transfer or issue of shares of a class of shares of a company to a person, other than an eligible agent, the total number of shares of that class registered in the securities register of the company in the name of that person would not exceed 5,000 and would not exceed 0.1% of the outstanding shares of that class, the company is entitled to assume that no person is acquiring or increasing a significant interest in that class of shares of the company as a result of that issue or transfer of shares.

133. Section 409 of the Act is amended by adding the following after subsection (3):

(3.1) If the person referred to in subsection (1) is an eligible agent or an entity controlled by an eligible agent, then the Minister may reduce the percentage referred to in subsection (2) or (3).

134. Paragraph 410(1)(b) of the Act is replaced by the following:

(b) a person, other than an eligible agent, who controls, within the meaning of paragraph 3(1)(a), the company acquires additional shares of the company.

135. The portion of subsection 420(1.1) of the Act before paragraph (a) is replaced by the following:

(1.1) Except for an application by an eligible agent for an approval under section 407, and subject to subsection 407.2(1), the Minister shall take into account only paragraph (1)(d) if the application is in respect of a transaction that would result in the applicant or applicants holding

136. Subsection 423(2) of the Act is replaced by the following:

(2) Subject to subsections (4) and 424(2), the notice referred to in paragraph (1)(a) or (b) shall be sent by the Minister within a period of 45 days after the certified date referred to in subsection 422(1) in the following cases:

(a) the application involves the acquisition of control of a company;

(b) the application is made by an eligible agent or an entity controlled by an eligible agent; or

(c) an application is made for the approval referred to in subsection 428(3).

137. Subsection 424(2) of the English version of the Act is replaced by the following:

(2) If, after receipt of the notice sent in accordance with subsection 423(2) that the Minister is not satisfied that the transaction to which the application relates should be approved, the applicant advises the Minister that the applicant wishes to make representations, the Minister shall provide the applicant with a reasonable opportunity within a period of 45 days after the date of the notice, or within any further period that may be agreed on by the applicant and the Minister, to make representations in respect of the matter.

138. Subsection 428(4) of the Act is replaced by the following:

(4) The application for the approval referred to in subsection (3) must be made jointly by the company and the eligible agent.

(5) The Minister, in determining whether to grant the approval referred to in subsection (3), shall take into account all matters that he or she considers relevant, including those set out in paragraphs 420(1)(a) to (h).

(6) If an approval referred to in subsection (3) is revoked, the company shall delete any entry in its securities register in respect of the recording of the issuance of shares to the eligible agent.

(7) If a company or an eligible agent fails to comply with any undertaking or term or condition in relation to an approval referred to in subsection (3), or if an eligible agent ceases to be an eligible agent, the Minister may, if the Minister considers it to be in the public interest to do so, by order, direct the eligible agent or former eligible agent and any person controlled by the eligible agent or former eligible agent to dispose of any number of shares of the company beneficially owned by the eligible agent or former eligible agent or the persons controlled by the eligible agent or former eligible agent that the Minister specifies in the order, within the time specified in the order and in the proportion, if any, as between the eligible agent or former eligible agent and the persons controlled by the eligible agent or former eligible agent that is specified in the order.

(8) No direction shall be made under subsection (7) unless the Minister has provided each person to whom the direction relates and the company concerned with a reasonable opportunity to make representations in respect of the subject-matter of the direction.

(9) Any person with respect to whom a direction has been made under subsection (7) may, within 30 days after the date of the direction, appeal the matter in accordance with section 1020.

139. Section 430 of the Act is amended by adding the following after subsection (5):

(6) If an approval referred to in subsection 428(3) is suspended, the eligible agent shall not exercise, in person or by proxy, any voting rights attached to any share of the company that is beneficially owned by the eligible agent.

140. Subsection 433(1) of the Act is replaced by the following:

433. (1) If a person fails to comply with a direction made under subsection 428(7) or 432(1), an application on behalf of the Minister may be made to a court for an order to enforce the direction.

141. Paragraph 797(f.1) of the Act is replaced by the following:

(f.1) a person who is an officer, director, employee or agent of — or any other person acting on behalf of — an eligible agent within the meaning of section 406.1;

142. Section 926 of the English version of the Act is replaced by the following:

926. Sections 406.1 and 406.2 apply in respect of insurance holding companies, except that references to “company” in section 406.2 are to be read as references to “insurance holding company”.

143. Section 935 of the Act is replaced by the following:

935. Despite section 934, if, as a result of a transfer or issue of shares of a class of shares of an insurance holding company to a person, other than an eligible agent, the total number of shares of that class registered in the securities register of the insurance holding company in the name of that person would not exceed 5,000 and would not exceed 0.1% of the outstanding shares of that class, the insurance holding company is entitled to assume that no person is acquiring or increasing a significant interest in that class of shares of the insurance holding company as a result of that issue or transfer of shares.

144. Section 936 of the Act is amended by adding the following after subsection (3):

(3.1) If the person referred to in subsection (1) is an eligible agent or an entity controlled by an eligible agent, then the Minister may reduce the percentage referred to in subsection (2) or (3).

145. Paragraph 937(1)(b) of the Act is replaced by the following:

(b) a person, other than an eligible agent, who controls, within the meaning of paragraph 3(1)(a), the insurance holding company acquires additional shares of the insurance holding company.

146. The portion of subsection 947(2) of the Act before paragraph (a) is replaced by the following:

(2) Except for an application by an eligible agent for an approval under section 927, and subject to section 933, the Minister shall take into account only paragraph (1)(d) if the application is in respect of a transaction that would result in the applicant or applicants holding

147. Subsection 950(2) of the Act is replaced by the following:

(2) Subject to subsections (4) and 951(2), the notice referred to in paragraph (1)(a) or (b) shall be sent by the Minister within a period of 45 days after the certified date referred to in subsection 949(1) in the following cases:

(a) the application involves the acquisition of control of an insurance holding company;

(b) the application is made by an eligible agent or an entity controlled by an eligible agent; or

(c) an application is made for the approval referred to in subsection 954(3).

148. Subsection 951(2) of the English version of the Act is replaced by the following:

(2) If, after receipt of the notice sent in accordance with subsection 950(2) that the Minister is not satisfied that the transaction to which the application relates should be approved, the applicant advises the Minister that the applicant wishes to make representations, the Minister shall provide the applicant with a reasonable opportunity within a period of 45 days after the date of the notice, or within any further period that may be agreed on by the applicant and the Minister, to make representations in respect of the matter.

149. Subsection 954(4) of the Act is replaced by the following:

(4) The application for the approval referred to in subsection (3) must be made jointly by the insurance holding company and the eligible agent.

(5) The Minister, in determining whether to grant the approval referred to in subsection (3), shall take into account all matters that he or she considers relevant, including those set out in paragraphs 947(1)(a) to (g).

(6) If an approval referred to in subsection (3) is revoked, the insurance holding company shall delete any entry in its securities register in respect of the recording of the issuance of shares to the eligible agent.

(7) If an insurance holding company or an eligible agent fails to comply with any undertaking or term or condition in relation to an approval referred to in subsection (3), or if an eligible agent ceases to be an eligible agent, the Minister may, if the Minister considers it to be in the public interest to do so, by order, direct the eligible agent or former eligible agent and any person controlled by the eligible agent or former eligible agent to dispose of any number of shares of the insurance holding company beneficially owned by the eligible agent or former eligible agent or the persons controlled by the eligible agent or former eligible agent that the Minister specifies in the order, within the time specified in the order and in the proportion, if any, as between the eligible agent or former eligible agent and the persons controlled by the eligible agent or former eligible agent that is specified in the order.

(8) No direction shall be made under subsection (7) unless the Minister has provided each person to whom the direction relates and the insurance holding company concerned with a reasonable opportunity to make representations in respect of the subject-matter of the direction.

(9) Any person with respect to whom a direction has been made under subsection (7) may, within 30 days after the date of the direction, appeal the matter in accordance with section 1020.

150. Section 955 of the Act is amended by adding the following after subsection (3):

(4) If an approval referred to in subsection 954(3) is suspended, the eligible agent shall not exercise, in person or by proxy, any voting rights attached to any share of the insurance holding company that is beneficially owned by the eligible agent.

151. Subsection 957(1) of the Act is replaced by the following:

957. (1) If a person fails to comply with a direction made under subsection 954(7) or 956(1), an application on behalf of the Minister may be made to a court for an order to enforce the direction.

152. Subsection 1020(1) of the Act is replaced by the following:

1020. (1) An appeal lies to the Federal Court from any direction of the Minister made under subsection 428(7), 432(1), 954(7) or 956(1).

Jobs and Economic Growth Act

153. Section 2073 of the English version of the Jobs and Economic Growth Act is amended by replacing the portion of subsection 402(1) that it enacts before paragraph (a) with the following:

402. (1) If, with respect to any bank, a person contravenes section 372 or subsection 373(1), 374(1) or 375(1) or section 376.1 or 376.2, subsection 377(1) or section 377.1 or 377.2 or fails to comply with an undertaking referred to in subsection 390(2) or with any terms and conditions imposed under section 397, the Minister may, if the Minister considers it in the public interest to do so, by order, direct that person and any person controlled by that person to

Coordinating Amendments

154. (1) In this section, “other Act” means the Jobs and Economic Growth Act.

(2) On the first day on which both section 2062 of the other Act and section 110 of this Act are in force, section 381 of the Bank Act is replaced by the following:

381. Despite section 379, if, as a result of a transfer or issue of shares of a class of shares, or of membership shares, of a bank to a person, other than an eligible agent, the total number of shares of that class registered in the securities register of the bank, or the total number of membership shares registered in the members register of the bank, as the case may be, in the name of that person would not exceed 5,000 and would not exceed 0.1% of the outstanding shares of that class or of the outstanding membership shares, as the case may be, the bank is entitled to assume that no person is acquiring or increasing a significant interest in that class of shares or in membership shares of the bank as a result of that issue or transfer of shares or membership shares.

(3) On the first day on which both subsection 2071(2) of the other Act and subsection 116(1) of this Act are in force, subsection 401.2(2.1) of the Bank Act is replaced by the following:

(2.1) Subsection (2) does not permit a bank to record in its securities register or members register a transfer or issue of any share or membership share of the bank to a foreign bank that is a foreign bank by reason only of paragraph (f) of the definition “foreign bank” in section 2.

(4) If section 2073 of the other Act comes into force before section 153 of this Act, then

(a) that section 153 and the heading before it are deemed never to have come into force and are repealed; and

(b) the portion of subsection 402(1) of the English version of the Bank Act preceding paragraph (a) is replaced by the following:

402. (1) If, with respect to any bank, a person contravenes section 372 or subsection 373(1), 374(1) or 375(1) or section 376.1 or 376.2, subsection 377(1) or section 377.1 or 377.2 or fails to comply with an undertaking referred to in subsection 390(2) or with any terms and conditions imposed under section 397, the Minister may, if the Minister considers it in the public interest to do so, by order, direct that person and any person controlled by that person to

(5) If section 2073 of the other Act comes into force on the same day as section 153 of this Act, then that section 153 is deemed to have come into force before that section 2073.

155. On the first day on which both section 117 of this Act is in force and subsection 348(2) of the Jobs, Growth and Long-term Prosperity Act has produced its effects, subsection 401.3(4) of the Bank Act, as enacted by section 117 of this Act, is renumbered as subsection 401.3(5) and is repositioned accordingly if required.

Division 2

Shipping

Canada Shipping Act, 2001

156. Paragraph 16(4)(d) of the Canada Shipping Act, 2001 is replaced by the following:

(d) the applicant has not paid a fee for services related to the document or has not paid a fine or penalty imposed on them under this Act; or

157. Subparagraph 20(1)(g)(i) of the Act is replaced by the following:

(i) the applicant has not paid a fee for services related to the document, or

158. Subsection 32(5) of the Act is replaced by the following:

(4.1) A regulation made under this Act on the recommendation of the Minister of Transport or on the joint recommendation of that Minister and the Minister of Natural Resources may incorporate by reference material produced by the Minister of Transport that varies material incorporated by reference under subsection (1).

(5) Material referred to in subsections (1) to (4) may be incorporated by reference as amended from time to time or as it exists on a particular date. Material referred to in subsection (4.1) that is to be incorporated by reference must be incorporated as it exists on a particular date.

159. Subsection 35(1) of the Act is amended by striking out “and” at the end of paragraph (f) and by adding the following after paragraph (g):

(h) specifying the services for the purposes of paragraph 36.1(1)(d); and

(i) specifying the services to which section 36.1 does not apply or the circumstances in which that section does not apply.

160. (1) Subsection 36(1) of the French version of the Act is replaced by the following:

(2) The portion of subsection 36(2) of the French version of the Act before paragraph (a) is replaced by the following:

161. The Act is amended by adding the following after section 36:

36.1 (1) Unless otherwise provided in the regulations, any person or organization that provides, in the exercise of powers or the performance of duties under this Act in accordance with an agreement or arrangement entered into by the Minister of Transport under paragraph 10(1)(c), any of the following services may, if that person or organization is not part of the federal public administration, set the fees to be paid to it for those services:

(a) services related to a Canadian maritime document;

(b) services related to any approvals or certifications;

(c) the conduct or witnessing of tests; and

(d) services specified in the regulations.

(2) Unless otherwise provided in the regulations, the fees referred to in subsection (1) are not public money within the meaning of the Financial Administration Act and the User Fees Act does not apply in respect of them.

(3) Unless otherwise provided in the regulations, the regulations made under paragraph 35(1)(g) do not apply in respect of any service referred to in any of paragraphs (1)(a) to (d) that is provided by any person or organization that is not part of the federal public administration in the exercise of powers or the performance of duties under this Act in accordance with an agreement or arrangement entered into by the Minister of Transport under paragraph 10(1)(c).

Services Provided by Classification Societies

162. (1) A classification society that provides, during the period beginning on July 1, 2007 and ending on the day before the day on which this Act receives royal assent, any of the following services in the exercise of powers or the performance of duties under the Canada Shipping Act, 2001 in accordance with an agreement or arrangement entered into by the Minister of Transport under paragraph 10(1)(c) of that Act may set the fees to be paid to it for those services:

(a) services related to a Canadian maritime document;

(b) services related to any approvals or certifications; and

(c) the conduct or witnessing of tests.

(2) The fees referred to in subsection (1) are not public money within the meaning of the Financial Administration Act and the User Fees Act does not apply in respect of them.

(3) The regulations made under paragraph 35(1)(g) of the Canada Shipping Act, 2001 do not apply in respect of any service referred to in any of paragraphs (1)(a) to (c) that is provided, during the period beginning on July 1, 2007 and ending on the day before the day on which this Act receives royal assent, by a classification society in the exercise of powers or the performance of duties under that Act in accordance with an agreement or arrangement entered into by the Minister of Transport under paragraph 10(1)(c) of that Act.

163. (1) A classification society that provides, during the period beginning on January 1, 1999 and ending on June 30, 2007, any of the following services in the exercise of powers or the performance of duties under the Canada Shipping Act in accordance with an agreement or arrangement entered into by the Minister of Transport under paragraph 8(1)(c) of that Act may set the fees to be paid to it for those services:

(a) services related to an inspection certif-icate;

(b) services related to any approvals or certifications; and

(c) the conduct or witnessing of tests.

(2) The fees referred to in subsection (1) are not public money within the meaning of the Financial Administration Act and are not subject to subsection 408(2) of the Canada Shipping Act.

(3) The User Fees Act does not apply in respect of the fees referred to in subsection (1).

164. The regulations made under paragraph 231(1)(d), subsections 408(1) or (4) or paragraphs 657(1)(l) or (m) of the Canada Shipping Act do not apply in respect of any service referred to in any of paragraphs 163(1)(a) to (c) that is provided, during the period beginning on January 1, 1999 and ending on June 30, 2007, by a classification society in the exercise of powers or the performance of duties under that Act.

Coming into Force

165. (1) Sections 160 and 162 are deemed to have come into force on July 1, 2007.

(2) Subsection 163(3) is deemed to have come into force on March 31, 2004.

(3) Subsections 163(1) and (2) and section 164 are deemed to have come into force on January 1, 1999.

Division 3

Preserving the Stability and Strength of Canada’s Financial Sector

Canada Deposit Insurance Corporation Act

166. (1) Subsection 39.15(7.1) of the Can-ada Deposit Insurance Corporation Act is replaced by the following:

(7.01) If an order directing the incorporation of a bridge institution is made, the actions referred to in subsection (7) are not to be taken during the period beginning on the coming into force of the order and ending on the following business day at 5:00 p.m. at the location of the Corporation’s head office, by reason only of

(a) the federal member institution’s insolvency;

(b) the making of an order appointing the Corporation as receiver in respect of the federal member institution or the making of the order directing the incorporation of the bridge institution; or

(c) the eligible financial contract being assigned to or assumed by the bridge institution.

(7.02) Subsection (7.01) does not apply in respect of an eligible financial contract between the federal member institution and a clearing house, as defined in section 2 of the Payment Clearing and Settlement Act, that provides clearing and settlement services for a clearing and settlement system designated under section 4 of that Act or between the federal member institution and a securities and derivatives clearing house as defined in subsection 13.1(3) of that Act.

(7.03) For the purpose of subsection (7.01), “business day” means a day other than a Saturday, a Sunday or any other day on which the clearing and settlement systems operated by the Canadian Payments Association are closed.

(7.1) If an order directing the incorporation of a bridge institution is made and the Corporation undertakes to unconditionally guarantee the payment of any amount due or that may become due by the federal member institution, in accordance with the provisions of the eligible financial contract, or to ensure that all obligations of the federal member institution arising from the eligible financial contract will be assumed by the bridge institution, the actions referred to in subsection (7) are not to be taken by reason only of

(a) the federal member institution’s insolvency;

(b) the making of an order appointing the Corporation as receiver in respect of the federal member institution or the making of the order directing the incorporation of the bridge institution; or

(c) the eligible financial contract being assigned to or assumed by the bridge institution.

(7.11) Any stipulation in an eligible financial contract is of no force or effect if it

(a) has the effect of providing for or permitting anything that, in substance, is contrary to subsection (7.01) or (7.1); or

(b) provides, in substance, that, by reason of the occurrence of any circumstance described in any of paragraphs (7.01)(a) to (c) and (7.1)(a) to (c), the federal member institution ceases to have the rights — or, in the case of a bridge institution, does not have the rights — to use or deal with assets that the federal member institution or bridge institution would otherwise have.

(2) The definition “financial collateral” in subsection 39.15(9) of the Act is replaced by the following:

“financial collateral” has the same meaning as in subsection 13(2) of the Payment Clearing and Settlement Act.

167. Section 39.18 of the Act is renumbered as subsection 39.18(1) and is amended by adding the following:

(2) Subsection (1) does not apply to subsections 39.15(7.01), (7.02), (7.11) and (7.2) and, only for the purpose of interpreting those subsections, to subsections 39.15(7), (7.03) and (9).

Payment Clearing and Settlement Act

168. The definitions “clearing and settlement system” and “clearing house” in section 2 of the Payment Clearing and Settlement Act are replaced by the following:

“clearing and settlement system” means a system or arrangement for the clearing or settlement of payment obligations or payment messages in which

(a) there are at least three participants, at least one of which is a Canadian participant and at least one of which has its head office in a jurisdiction other than the jurisdiction where the head office of the clearing house is located;

(b) clearing or settlement is all or partly in Canadian dollars; and

(c) except in the case of a system or arrangement for the clearing or settlement of derivatives contracts, the payment obligations that arise from clearing within the system or arrangement are ultimately settled through adjustments to the account or accounts of one or more of the participants at the Bank.

For greater certainty, it includes a system or arrangement for the clearing or settlement of securities transactions, derivatives contracts, foreign exchange transactions or other transactions if the system or arrangement also clears or settles payment obligations arising from those transactions.

“clearing house” means a corporation, association, partnership, agency or other entity that provides clearing or settlement services for a clearing and settlement system. It includes a securities and derivatives clearing house, as defined in subsection 13.1(3), but does not include a stock exchange or the Bank.

169. (1) Paragraph 8(1)(c) of the Act is replaced by the following:

(c) if a payment is made, property is delivered or an interest in, or in Quebec a right to, property is transferred in accordance with the settlement rules of a designated clearing and settlement system, the payment, delivery or transfer shall not be required to be reversed, repaid or set aside.

(2) Section 8 of the Act is amended by adding the following after subsection (3):

(3.1) Despite subsections (1) to (3) and the settlement rules, 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) or (7.11) or section 39.152 of that Act.

(3) Subsection 8(5) of the Act is replaced by the following:

(5) In this section, “settlement rules” means the rules, however established, that provide the basis on which payment obligations, delivery obligations or other transfers of property or interests in, or in Quebec rights to, property are made, calculated, netted or settled and includes rules for the taking of action in the event that a participant is unable or likely to become unable to meet its obligations to the clearing house, a central counter-party, other participants or the Bank.

170. (1) Subsection 13(1) of the Act is replaced by the following:

13. (1) Despite anything in any law relating to bankruptcy or insolvency or any order of a court made in respect of a reorganization, arrangement or receivership involving insolvency, a party to a netting agreement may terminate the agreement and determine a net termination value or net settlement amount in accordance with the provisions of the agreement and the party entitled to the net termination value or net settlement amount is to be a creditor of the party owing the net termination value or net settlement amount for that value or amount.

(2) The portion of subsection 13(1.1) of the Act before paragraph (a) is replaced by the following:

(1.1) If a netting agreement referred to in subsection (1) is an eligible financial contract, a party to the agreement may also, in accordance with the provisions of that agreement, deal with financial collateral including

(3) Section 13 of the Act is amended by adding the following after subsection (1.1):

(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) or (7.11) or section 39.152 of that Act.

(4) The portion of subsection 13(2) of the Act before the definition “financial collateral” is replaced by the following:

(2) The following definitions apply in this section.

(5) The definition “financial collateral” in subsection 13(2) of the Act is amended by striking out “or” at the end of paragraph (b) and by adding the following after paragraph (c):

(d) an assignment of a right to payment or delivery against a clearing house, or

(e) any other collateral that is prescribed.

(6) The definition “netting agreement” in subsection 13(2) of the Act is replaced by the following:

“netting agreement” means an agreement between two or more financial institutions, between the Bank and one or more financial institutions or between a participant and a customer to which the participant provides clearing services that is

(a) an eligible financial contract; or

(b) an agreement that provides for the netting or set-off or compensation of present or future obligations to make payments against the present or future rights to receive payments.

171. (1) Paragraph 13.1(1)(b) of the Act is replaced by the following:

(b) interfering with the rights or remedies of a securities and derivatives clearing house in respect of any collateral that has been granted to it as security for the performance of an obligation incurred in respect of the clearing and settlement services provided by the securities and derivatives clearing house.

(2) Section 13.1 of the Act is amended by adding the following after subsection (1):

(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) or (7.11) or section 39.152 of that Act.

172. The Act is amended by adding the following after section 23:

REGULATIONS

24. The Governor in Council may make regulations prescribing collateral for the purpose of paragraph (e) of the definition “financial collateral” in subsection 13(2).

Division 4

Fisheries

Fisheries Act

173. Section 29 of the Fisheries Act is replaced by the following:

29. (1) No person shall erect, use or maintain any seine, net, weir or other fishing appliance that

(a) unduly obstructs the passage of fish in any Canadian fisheries waters, whether subject to any exclusive right of fishery or not; or

(b) obstructs more than two thirds of the width of any river or stream or more than one third of the width of the main channel at low tide of any tidal stream.

(2) The Minister or a fishery officer may order the removal of or remove any seine, net, weir or other fishing appliance that, in the opinion of the Minister or fishery officer, results in an obstruction referred to in paragraph (1)(a) or (b).

(3) For the purposes of paragraph (1)(b), if a tidal stream has no main channel at low tide, then the tidal stream’s width is considered to be the width of its main channel.

174. Section 40 of the Act is amended by adding the following after subsection (5):

(6) All fines received by the Receiver General in respect of the commission of an offence under this section are to be credited to the Environmental Damages Fund, an account in the accounts of Canada, and used for purposes related to the conservation and protection of fish or fish habitat or the restoration of fish habitat, or for administering that Fund.

(7) The court imposing the fine may recommend to the Minister that all or a portion of the fine credited to the Environmental Damages Fund be paid to a person or an organization specified by the court for a purpose referred to in subsection (6).

Jobs, Growth and Long-term Prosperity Act

175. Subsection 133(3) of the Jobs, Growth and Long-term Prosperity Act is amended by replacing the definition “Aboriginal” that it enacts with the following:

“Aboriginal”, in relation to a fishery, means that fish is harvested by an Aboriginal organization or any of its members for the purpose of using the fish as food, for social or ceremonial purposes or for purposes set out in a land claims agreement entered into with the Aborig- inal organization;

176. Section 136 of the Act is amended by replacing the subsections 20(4) and (5) that it enacts with the following:

(4) No person shall

(a) damage or obstruct any fishway constructed or used to enable fish to pass over or around any obstruction;

(b) damage or obstruct any fishway, fish stop or diverter constructed or installed on the Minister’s request;

(c) stop or hinder fish from entering or passing through any fishway, or from surmounting any obstacle or leap;

(d) damage, remove or authorize the removal of any fish guard, screen, covering, netting or other device installed on the Minister’s request; or

(e) fish in any manner within 23 m downstream from the lower entrance to any fishway, obstruction or leap.

(5) Despite paragraph (4)(d), a person may remove or authorize the removal of any fish guard, screen, covering, netting or other device installed on the Minister’s request if the removal is required for modification, repair or maintenance.

Transitional Provisions

177. (1) An authorization issued by the Minister under section 32 or subsection 35(2) of the Fisheries Act as it existed before June 29, 2012, or under paragraph 32(2)(c) or paragraph 35(2)(b) of the Fisheries Act as it existed before the coming into force of subsection 142(2) of the Jobs, Growth and Long-term Prosperity Act, and that is still valid on the day on which that subsection 142(2) comes into force, is deemed to be an authorization issued by the Minister under paragraph 35(2)(b) of the Fisheries Act after that coming into force.

(2) On the request of the holder of an authorization referred to in subsection (1) that is made within 90 days after the day on which subsection 142(2) of the Jobs, Growth and Long-term Prosperity Act comes into force, the Minister must examine the authorization, and the Minister may, within 210 days after the day on which that subsection 142(2) comes into force, confirm or amend the authorization or, if the Minister is of the opinion that the holder no longer needs an authorization, cancel it.

(3) Paragraph 40(3)(a) of the Fisheries Act does not apply to the holder of an authorization referred to in subsection (1) until 90 days after the day on which subsection 142(2) of the Jobs, Growth and Long-term Prosperity Act comes into force. However, if the holder makes a request under subsection (2), then that paragraph does not apply to that holder until the day on which that holder receives notice of the Minister’s decision to confirm, amend or cancel the authorization or until 210 days after the day on which that subsection 142(2) comes into force, whichever is earlier.

Coming into Force

178. Sections 173 and 174 come into force on the day on which subsection 147(1) of the Jobs, Growth and Long-term Prosperity Act comes into force.

Division 5

Bridge To Strengthen Trade Act

Enactment of Act

179. The Bridge To Strengthen Trade Act, whose schedule is set out in Schedule 1 to this Act, is enacted as follows:

An Act respecting a bridge spanning the Detroit River between Windsor and Detroit and other works

SHORT TITLE

1. This Act may be cited as the Bridge To Strengthen Trade Act.

INTERPRETATION

2. The following definitions apply in this Act.

“bridge” means a bridge that spans the Detroit River and connects Windsor, Ontario to Detroit, Michigan and whose piers, in Ontario, are located within the boundaries of the territory described in the schedule, as well as the approaches to the bridge.

“construction” in relation to the bridge, the parkway or a related work, includes any work or activity related to its construction.

“Minister” means the Minister of Transport.

“operation” in relation to the bridge or a related work, includes its maintenance and repair.

“parkway” means a road connecting Highway 401 with any work referred to in paragraph (a) or (b) of the definition “related work” that is located within the boundaries of the territory described in the schedule and any works ancillary to that road.

“person” means an individual, corporation, partnership, trust, joint venture or unincorporated association or organization.

“related work” means any of the following works:

(a) any border services facility related to the bridge that is located in Michigan or within the boundaries of the territory described in the schedule;

(b) any work useful to the operation of the bridge or any border services facility referred to in paragraph (a), including toll booths, duty-free shops and parking lots, that is located in Michigan or within the boundaries of the territory described in the schedule;

(c) any road or interchange connecting Interstate 75 with any work referred to in paragraph (a) or (b) that is located in Michigan;

(d) any work that is accessory to the bridge or to any work referred to in paragraphs (a) to (c); and

(e) any other work specified in the regulations.

CONSTRUCTION OF THE BRIDGE, PARKWAY AND RELATED WORKS

3. (1) The Fisheries Act, the Navigable Waters Protection Act, the Species at Risk Act, section 6 of the International Bridges and Tunnels Act and the Port Authorities Operations Regulations do not apply to the construction of the bridge, parkway or any related work.

(2) After completion of the construction of the bridge, parkway or any related work, as the case may be, any authorization that would have been required for its construction but for subsection (1), is deemed to have been issued for the purpose of the application of the Acts and regulations referred to in subsection (1).

4. (1) Subject to subsection (2), the Canadian Environmental Assessment Act, 2012 does not apply to the bridge, parkway or any related work.

(2) The expansion, decommissioning or abandonment of the bridge, parkway or any related work is a project as defined in section 66 of the Canadian Environmental Assessment Act, 2012 and is subject to sections 67 to 72 of that Act.

5. (1) A responsible authority is exempt from any obligation accrued or accruing under subsections 20(2) and 38(1) of the Canadian Environmental Assessment Act, chapter 37 of the Statutes of Canada, 1992, in relation to the bridge, parkway or any related work.

(2) The Windsor Port Authority is exempt from any obligation accrued or accruing under subsection 15(2) of the Canada Port Authority Environmental Assessment Regulations in relation to the bridge, parkway or any related work.

6. (1) The Governor in Council may, by order, exempt any person, on any condition that the Governor in Council considers to be in the public interest, from any requirement under any federal Act to obtain a permit, licence, approval or other authorization in relation to the construction of the bridge, parkway or any related work.

(2) The Statutory Instruments Act does not apply to the order. However, the order must be published in the Canada Gazette.

(3) After completion of the construction of the bridge, parkway or the related work, as the case may be, any authorization that would have been required in relation to its construction but for an exemption granted under subsection (1), is deemed to have been issued for the purpose of the application of the federal Act for which the exemption was granted.

7. (1) Before a person who proposes the construction of the bridge begins its construction, they must file with the Minister a plan that includes all measures to be taken to mitigate the bridge’s impact on navigation, the plans for its design and construction, a description of its proposed site and the plans for its management and operation.

(2) The person must consult with the Minister before filing the plan.

8. (1) Before a person who proposes to carry on any work, undertaking or activity, for the purpose of the construction of the bridge, parkway or any related work and for which an authorization referred to in paragraphs 35(2)(b) or (c) of the Fisheries Act would have been required but for section 3, begins to carry on the work, undertaking or activity, they must file with the Minister a plan that includes all measures to be taken to offset any loss of fish habitat resulting from the carrying on of the work, undertaking or activity.

(2) The person must consult with the Minister of Fisheries and Oceans before filing the plan.

(3) Any authorization referred to in paragraph 35(2)(b) or (c) of the Fisheries Act that was issued before the coming into force of this section in relation to the carrying on of such a work, undertaking or activity is deemed to be a plan that has been filed in accordance with subsections (1) and (2).

9. (1) Before a person who proposes to engage in an activity affecting a listed wildlife species, any part of its critical habitat or the residences of its individuals, for the purpose of the construction of the bridge, parkway or any related work and for which an authorization under subsection 73(1) of the Species at Risk Act would have been required but for section 3, begins to engage in the activity, they must file with the Minister a plan that includes all measures to be taken to mitigate the impact of the activity on the species, its critical habitat or the residences of its individuals.

(2) The person must consult with the Minister of the Environment before filing the plan.

(3) Any authorization referred to in subsection 73(1) of the Species at Risk Act that was granted before the coming into force of this section in relation to the activity is deemed to be a plan that has been filed in accordance with subsections (1) and (2).

10. Before a person who proposes the construction in Canada of the bridge or of any work referred to in paragraph (a) or (b) of the definition “related work” in section 2 begins its construction, they must file with the Minister a plan that includes all measures to be taken to mitigate any adverse environmental effects caused by the construction and sets out a process for consulting the public with respect to the construction.

11. (1) Before a person who proposes to do anything in the Port of Windsor — in order to construct the bridge — that will have or is likely to have any result that is listed in section 5 of the Port Authorities Operations Regulations begins to do any such thing, they must file with the Minister a plan that includes all measures to be taken to mitigate or prevent the result.

(2) The person must consult with the Windsor Port Authority before filing the plan.

12. (1) Any person who files a plan under any of sections 7 to 11 may amend that plan.

(2) The requirements regarding the content of a plan filed under any of sections 7 to 11, as well as any obligation to consult with respect to that plan, also apply to the corresponding amended plan.

(3) The person must file the amended plan with the Minister. Once filed, the amended plan replaces the plan previously filed.

13. Any person who files a plan must ensure that it is implemented and complied with.

OPERATION OF THE BRIDGE AND RELATED WORKS

14. (1) The Minister may designate, in writing, a person as the initial operator of the bridge and any related work.

(2) Paragraph 23(1)(b) of the International Bridges and Tunnels Act does not apply to the initial operator.

(3) The Statutory Instruments Act does not apply to the designation.

GENERAL PROVISIONS

15. (1) Any person may, with the approval of the Governor in Council, do anything referred to in any of paragraphs 90(1)(a) to (e) of the Financial Administration Act for any purpose relating to the construction or operation of the bridge or any related work.

(2) Any parent Crown corporation as defined in subsection 83(1) of the Financial Administration Act may, with the approval of the Governor in Council, sell or otherwise dispose of all or substantially all of the corporation’s assets for any purpose relating to the construction or operation of the bridge or any related work.

16. For the purposes of sections 17 to 21, “corporation” means a corporation established under section 29 of the International Bridges and Tunnels Act for any purpose relating to the construction or operation of the bridge or any related work.

17. (1) Subject to its letters patent, a corporation is authorized to construct and operate the bridge or any related work.

(2) The corporation may authorize another person to construct or operate the bridge or related work.

18. (1) A corporation that was established before the coming into force of section 180 of the Jobs and Growth Act, 2012 is deemed to have been established under section 29 of the International Bridges and Tunnels Act as amended by that section 180 and its establishment is deemed to have been authorized for the purpose of paragraph 90(1)(a) of the Financial Administration Act.

(2) Any action taken by the corporation between the date of its establishment and the date of the coming into force of this section is deemed to have been taken as if sections 16, 17 and 19 to 21 were in force at the time that the action was taken.

19. A corporation is not an agent of Her Majesty in right of Canada.

20. A corporation is deemed to be a public agency for the purposes of the Urban Cooperation Act of 1967, MCL 124.501 to 124.512, an Act of the state of Michigan.

21. A corporation may enter into an agreement with the government of the state of Michigan or of any political subdivision of that state or with any of their agencies or agents to establish an entity that is both a public body corporate and a compact entity under the laws of the United States.

22. (1) The Minister may enter into an agreement for any purpose relating to the construction or operation of the bridge, parkway or any related work with any person or with the government of the United States or of any political subdivision of the United States or any of their agencies or agents.

(2) The agreement may include undertakings to provide financial assistance by Canada, including the granting of guarantees.

(3) The Minister may take any measures that he or she considers appropriate to carry out the agreement or to protect the interests or enforce the rights of Her Majesty in right of Canada under the agreement, including accepting and holding on behalf of Her Majesty any security granted under the agreement or releasing or realizing on that security.

INFORMATION GATHERING

23. (1) The Minister may, for the purpose of verifying compliance with this Act, by registered letter or by a demand served personally, require any person to produce at a place specified in the letter or in the demand any document that the Minister believes is relevant for that purpose that is in the person’s possession, or to which the person may reasonably be expected to have access, within any reasonable time and in any reasonable manner that is specified in the letter or demand.

(2) A person who is required to produce any document under subsection (1) must do so as required.

OFFENCES

24. A person who contravenes any of sections 7 to 11 and 13 and subsection 23(2) is guilty of an offence punishable on summary conviction and liable

(a) in the case of an individual, to a fine of not more than $25,000; and

(b) in any other case, to a fine of not more than $500,000.

25. In a prosecution for an offence under this Act, it is sufficient proof of the offence to establish that it was committed by an employee or agent or mandatary of the accused, whether or not the employee, agent or mandatary is identified or has been prosecuted for the offence, unless the accused establishes that the offence was committed without the knowledge or consent of the accused and that the accused exercised due diligence to prevent its commission.

26. Subject to section 25, a person is not to be found guilty of an offence under this Act if they establish that they exercised due diligence to prevent its commission.

27. Proceedings in respect of an offence under this Act may be instituted within two years after the day on which the subject matter of the proceedings arose.

REGULATORY POWERS

28. (1) The Minister may, by regulation,

(a) specify that a work is a related work for the purpose of the definition “related work” in section 2; and

(b) amend the schedule to change the boundaries of the territory described in the schedule.

(2) A regulation has effect from the day on which it is made.

Related Amendments to the International Bridges and Tunnels Act

180. Subsection 29(1) of the International Bridges and Tunnels Act is replaced by the following:

29. (1) The Governor in Council may, on the recommendation of the Minister, issue letters patent of incorporation for the establishment of a corporation, with or without share capital, for any purpose relating to the construction or operation of an international bridge or tunnel. Letters patent take effect on the date stated in them.

181. Subsection 32(1) of the Act is replaced by the following:

32. (1) A corporation that is incorporated for any purpose relating to the construction or operation of an international bridge or tunnel in respect of which its letters patent are issued has, for that purpose and for the purposes of this Act, the capacity, rights, powers and privileges of a natural person.

182. Section 33 of the Act is replaced by the following:

33. (1) Subject to this Act and to its letters patent, a corporation may fix and charge tolls, fees or other charges for the use of an international bridge or tunnel.

(2) The corporation may authorize another person to fix or charge tolls, fees or other charges for the use of the international bridge or tunnel.

Coordinating Amendments

183. On the first day on which both sections 179 and 316 of this Act are in force, section 3 of the Bridge To Strengthen Trade Act is replaced by the following:

3. The Fisheries Act, the Navigation Protection Act, the Species at Risk Act, section 6 of the International Bridges and Tunnels Act and the Port Authorities Operations Regulations do not apply to the construction of the bridge, parkway or any related work.

184. (1) In this section, “other Act” means the Jobs, Growth and Long-term Prosperity Act.

(2) If subsection 142(2) of the other Act comes into force before section 179 of this Act, then on the day on which that section 179 comes into force, subsection 8(1) of the Bridge To Strengthen Trade Act is replaced by the following:

8. (1) Before a person who proposes to carry on any work, undertaking or activity, for the purpose of the construction of the bridge, parkway or any related work and for which an authorization referred to in paragraphs 35(2)(b) or (c) of the Fisheries Act would have been required but for section 3, begins to carry on the work, undertaking or activity, they must file with the Minister a plan that includes all measures to be taken to mitigate the harm to fish that are part of a commercial, recreational or Aboriginal fishery, or to fish that support such a fishery resulting from the carrying on of the work, undertaking or activity.

(3) If section 179 of this Act comes into force before subsection 142(2) of the other Act, then, on the day on which that subsection 142(2) comes into force,

(a) subsection 8(1) of the Bridge To Strengthen Trade Act is replaced by the following:

8. (1) Before a person who proposes to carry on any work, undertaking or activity, for the purpose of the construction of the bridge, parkway or any related work and for which an authorization referred to in paragraphs 35(2)(b) or (c) of the Fisheries Act would have been required but for section 3, begins to carry on the work, undertaking or activity, they must file with the Minister a plan that includes all measures to be taken to mitigate the harm to fish that are part of a commercial, recreational or Aboriginal fishery, or to fish that support such a fishery resulting from the carrying on of the work, undertaking or activity.

(b) section 8 of the Bridge To Strengthen Trade Act is amended by adding the following after subsection (3):

(4) If a plan was filed with respect to a work, undertaking or activity under subsection (1) as it read before the coming into force of this subsection, then, as of that coming into force, that subsection (1) continues to apply with respect to that work, undertaking or activity.

(4) If subsection 142(2) of the other Act comes into force on the same day as section 179 of this Act, then that subsection 142(2) is deemed to have come into force before that section 179 and subsection (2) applies as a consequence.

Division 6

Bretton Woods and Related Agreements Act

185. (1) Paragraphs 3(b) to (d) of Article XII of Schedule I to the Bretton Woods and Related Agreements Act are replaced by the following:

(b) Subject to (c) below, the Executive Board shall consist of twenty Executive Directors elected by the members, with the Managing Director as chairman.

(c) For the purpose of each regular election of Executive Directors, the Board of Governors, by an eighty-five percent majority of the total voting power, may increase or decrease the number of Executive Directors specified in (b) above.

(d) Elections of Executive Directors shall be conducted at intervals of two years in accord-ance with regulations which shall be adopted by the Board of Governors. Such regulations shall include a limit on the total number of votes that more than one member may cast for the same candidate.

(2) Paragraph 3(f) of Article XII of Schedule I to the Act is replaced by the following:

(f) Executive Directors shall continue in office until their successors are elected. If the office of an Executive Director becomes vacant more than ninety days before the end of his term, another Executive Director shall be elected for the remainder of the term by the members that elected the former Executive Director. A majority of the votes cast shall be required for election. While the office remains vacant, the Alternate of the former Executive Director shall exercise his powers, except that of appointing an Alternate.

(3) Paragraphs 3(i) and (j) of Article XII of Schedule I to the Act are replaced by the following:

(i)(i) Each Executive Director shall be entitled to cast the number of votes which counted towards his election.

(ii) When the provisions of Section 5(b) of this Article are applicable, the votes which an Executive Director would otherwise be entitled to cast shall be increased or decreased correspondingly. All the votes which an Executive Director is entitled to cast shall be cast as a unit.

(iii) When the suspension of the voting rights of a member is terminated under Article XXVI, Section 2(b), the member may agree with all the members that have elected an Executive Director that the number of votes allotted to that member shall be cast by such Executive Director, provided that, if no regular election of Executive Directors has been conducted during the period of the suspension, the Executive Director in whose election the member had participated prior to the suspension, or his successor elected in accordance with paragraph 3(c)(i) of Schedule L or with (f) above, shall be entitled to cast the number of votes allotted to the member. The member shall be deemed to have participated in the election of the Executive Director entitled to cast the number of votes allotted to the member.

(j) The Board of Governors shall adopt regulations under which a member may send a representative to attend any meeting of the Executive Board when a request made by, or a matter particularly affecting, that member is under consideration.

(4) Section 8 of Article XII of Schedule I to the Act is replaced by the following:

Section 8. Communication of views to members

The Fund shall at all times have the right to communicate its views informally to any member on any matter arising under this Agreement. The Fund may, by a seventy percent majority of the total voting power, decide to publish a report made to a member regarding its monetary or economic conditions and developments which directly tend to produce a serious disequilibrium in the international balance of payments of members. The relevant member shall be entitled to representation in accordance with Section 3(j) of this Article. The Fund shall not publish a report involving changes in the fundamental structure of the economic organization of members.

186. Subparagraph (a)(ii) of Article XXI of Schedule I to the Act is replaced by the following:

(ii) For decisions by the Executive Board on matters pertaining exclusively to the Special Drawing Rights Department only Executive Directors elected by at least one member that is a participant shall be entitled to vote. Each of these Executive Directors shall be entitled to cast the number of votes allotted to the members that are participants whose votes counted towards his election. Only the presence of Executive Directors elected by members that are participants and the votes allotted to members that are participants shall be counted for the purpose of determining whether a quorum exists or whether a decision is made by the required majority.

187. Paragraph (a) of Article XXIX of Schedule I to the Act is replaced by the following:

(a) Any question of interpretation of the provisions of this Agreement arising between any member and the Fund or between any members of the Fund shall be submitted to the Executive Board for its decision. If the question particularly affects any member, it shall be entitled to representation in accordance with Article XII, Section 3(j).

188. Paragraph 1(a) of Schedule D of Schedule I to the Act is replaced by the following:

1. (a) Each member or group of members that has the number of votes allotted to it or them cast by an Executive Director shall appoint to the Council one Councillor, who shall be a Governor, Minister in the government of a member, or person of comparable rank, and may appoint not more than seven Associates. The Board of Governors may change, by an eighty-five percent majority of the total voting power, the number of Associates who may be appointed. A Councillor or Associate shall serve until a new appointment is made or until the next regular election of Executive Directors, whichever shall occur sooner.

189. Paragraphs 5(e) and (f) of Schedule D of Schedule I to the Act are replaced by the following:

(e) When an Executive Director is entitled to cast the number of votes allotted to a member pursuant to Article XII, Section 3(i)(iii), the Councillor appointed by the group whose members elected such Executive Director shall be entitled to vote and cast the number of votes allotted to such member. The member shall be deemed to have participated in the appointment of the Councillor entitled to vote and cast the number of votes allotted to the member.

190. Schedule E of Schedule I to the Act is replaced by the following:

SCHEDULE E