Budget Implementation Act, 2005 (S.C. 2005, c. 30)
Full Document:
- HTMLFull Document: Budget Implementation Act, 2005 (Accessibility Buttons available) |
- PDFFull Document: Budget Implementation Act, 2005 [623 KB]
Assented to 2005-06-29
PART 13CANADA EMISSION REDUCTION INCENTIVES AGENCY
R.S., c. P-36Public Service Superannuation Act
92. Part I of Schedule I to the Public Service Superannuation Act is amended by adding the following in alphabetical order:
Canada Emission Reduction Incentives Agency
Agence canadienne pour l’incitation à la réduction des émissions
Coordinating Amendments
Marginal note:2003, c. 22
93. (1) On the later of the coming into force of section 87 of this Act and section 11 of the Public Service Modernization Act, chapter 22 of the Statutes of Canada, 2003 (in this section referred to as the “other Act”), Schedule IV to the Financial Administration Act is amended by adding the following in alphabetical order:
Canada Emission Reduction Incentives Agency
Agence canadienne pour l’incitation à la réduction des émissions
(2) If section 11 of the other Act comes into force before section 91 of this Act, then, on the later of the day on which that section 11 comes into force and the day on which this Act receives royal assent, section 91 of this Act and the heading before it are repealed.
Marginal note:2003, c. 22
94. On the later of the coming into force of section 87 of this Act and section 224 of the Public Service Modernization Act, chapter 22 of the Statutes of Canada, 2003, section 22 of the English version of the Canada Emission Reduction Incentives Agency Act, as enacted by section 87 of this Act, is replaced by the following:
Marginal note:Accident compensation
22. The President and the members of the advisory board are deemed to be employees for the purposes of the Government Employees Compensation Act and to be employed in the federal public administration for the purposes of any regulations made under section 9 of the Aeronautics Act.
Coming into Force
Marginal note:Order in council
95. This Part, other than sections 93 and 94, comes into force on a day to be fixed by order of the Governor in Council.
PART 14GREENHOUSE GAS TECHNOLOGY INVESTMENT FUND
Greenhouse Gas Technology Investment Fund Act
96. The Greenhouse Gas Technology Investment Fund Act is enacted as follows:
An Act to establish the Greenhouse Gas Technology Investment Fund for the reduction of greenhouse gas emissions and the removal of greenhouse gases from the atmosphere
SHORT TITLE
Marginal note:Short title
1. This Act may be cited as the Greenhouse Gas Technology Investment Fund Act.
INTERPRETATION
Marginal note:Definitions
2. The following definitions apply in this Act.
Marginal note:“eligible contributor”
« participant admissible »
“eligible contributor” means a person who is subject to requirements — set out in regulations made under any Act of Parliament — respecting emissions of greenhouse gas from industrial sources, other than a person who is a vehicle manufacturer.
Marginal note:“Fund”
« Fonds »
“Fund” means the Greenhouse Gas Technology Investment Fund established in section 3.
Marginal note:“greenhouse gas”
« gaz à effet de serre »
“greenhouse gas” means any gas listed in Annex A to the Kyoto Protocol to the United Nations Framework Convention on Climate Change done at Kyoto on December 11, 1997, as amended from time to time, to the extent that the amendments are binding on Canada.
Marginal note:“Minister”
« ministre »
“Minister” means the Minister of Natural Resources.
Marginal note:“vehicle”
« véhicule »
“vehicle” means any vehicle that is capable of being driven or drawn on roads by any means other than muscular power exclusively, but does not include any vehicle designed to run exclusively on rails.
GREENHOUSE GAS TECHNOLOGY INVESTMENT FUND
Marginal note:Establishment
3. There is established in the accounts of Canada an account to be known as the Greenhouse Gas Technology Investment Fund.
Marginal note:Amounts to be credited to Fund
4. There shall be paid into the Consolidated Revenue Fund and credited to the Fund
(a) all amounts contributed to Her Majesty in right of Canada by an eligible contributor for the purpose of
(i) research into, or the development or demonstration of, technologies or processes intended to reduce emissions of greenhouse gases from industrial sources or to remove greenhouse gases from the atmosphere in the course of an industrial operation, or
(ii) creating elements of the infrastructure that are necessary to support research into, or the development or demonstration of, those technologies or processes; and
(b) an amount representing interest of the balance from time to time to the credit of the account at the rate and calculated in the manner that the Governor in Council may, on the recommendation of the Minister of Finance, prescribe.
Marginal note:Amounts charged to Fund
5. There shall be charged to the Fund the amounts paid out under section 6.
GRANTS OR CONTRIBUTIONS
Marginal note:Power of Minister
6. (1) The Minister may, out of the Consolidated Revenue Fund, make grants or contributions in any amount that he or she considers appropriate for any purpose referred to in paragraph 4(a).
Marginal note:Matters to consider
(2) In making a grant or contribution, the Minister shall consider
(a) the competitiveness and efficiency of industry;
(b) the sustainable development of Canada’s natural resources;
(c) the development of Canadian scientific and technological capabilities; and
(d) any recommendations made by the standing committee of the House of Commons that normally considers matters related to the environment.
Marginal note:Limitation
(3) No grant or contribution may be made in excess of the amount of the balance to the credit of the Fund.
ADVISORY BOARD
Marginal note:Appointment of members
7. (1) The Governor in Council shall appoint an advisory board of not more than 12 members to hold office during pleasure for a term of not more than three years, which term may be renewed for one or more further terms.
Marginal note:Role
(2) The role of the advisory board is to advise the Minister on any matter respecting the making of grants or contributions for any of the purposes referred to in paragraph 4(a), including the types of projects that are most likely to result in significant reductions of greenhouse gas emissions and the matters referred to in paragraphs 6(2)(a) to (d).
Marginal note:Publication
(3) The Minister shall publish the advice given under subsection (2) within 30 days after receiving it from the advisory board.
Marginal note:Representation
(4) The Governor in Council may appoint any person with relevant knowledge or expertise to the advisory board, including persons from industry, institutions of learning and environmental groups.
Marginal note:Chairperson
(5) The Minister shall appoint one of the members as Chairperson of the advisory board.
Marginal note:Remuneration
(6) The members of the advisory board are to be paid, in connection with their work for the advisory board, the remuneration that may be fixed by the Governor in Council.
Marginal note:Travel, living and other expenses
(7) The members of the advisory board are entitled to be reimbursed, in accordance with Treasury Board directives, the travel, living and other expenses incurred in connection with their work for the advisory board while absent from their ordinary place of residence.
Marginal note:Meetings
(8) The Chairperson may determine the times and places at which the advisory board will meet, but it must meet at least once a year.
Marginal note:Accident compensation
(9) The members of the advisory board are deemed to be employees for the purposes of the Government Employees Compensation Act and to be employed in the federal public administration for the purposes of any regulations made under section 9 of the Aeronautics Act.
TECHNOLOGY INVESTMENT UNITS
Marginal note:Creation
8. (1) Subject to subsections (2) to (5), the Minister must create technology investment units in respect of contributions made by eligible contributors to Her Majesty in right of Canada or to any fund designated by the Minister for the purposes of this subsection, for any of the purposes referred to in paragraph 4(a).
Marginal note:Units to be recorded in database
(2) The technology investment units are to be created in respect of a contribution by an eligible contributor in a manner that allows them to be recorded in a database established in relation to the emission requirements applicable to the eligible contributor.
Marginal note:When creation of units may begin
(3) Technology investment units may be created only in respect of contributions made on or after January 1, 2008.
Marginal note:Regulations fixing contribution rate and number of units
(4) Subject to subsection (5), the Governor in Council may, on the recommendation of the Minister of the Environment, make regulations
(a) fixing the amount that must be contributed for technology investment units to be created, or the manner of calculating that amount; and
(b) determining the maximum number of those units that may be created in any period specified in the regulations.
Marginal note:Restriction on contribution rate
(5) Until December 31, 2012, the maximum amount that may be contributed for a technology investment unit to be created may not be more than $15.
Marginal note:Use of units
(6) Technology investment units may only be used by the eligible contributor in respect of whom they were created and that eligible contributor may use them only in accordance with any regulations in force that govern the manner in which they may be used to meet requirements relating to emissions of greenhouse gases from industrial sources.
Coming into Force
Marginal note:Order in council
97. This Part comes into force on a day to be fixed by order of the Governor in Council.
PART 15AMENDMENTS TO THE CANADA DEPOSIT INSURANCE CORPORATION ACT
R.S., c. C-3Canada Deposit Insurance Corporation Act
Marginal note:1996, c. 6, s. 22
98. Paragraph 7(b) of the Canada Deposit Insurance Corporation Act is replaced by the following:
(b) to promote and otherwise contribute to the stability of the financial system in Canada; and
Marginal note:2001, c. 9, s. 205
99. Paragraph 8(c) of the Act is replaced by the following:
(c) a retail association within the meaning of regulations made under the Cooperative Credit Associations Act.
Marginal note:1992, c. 26, s. 4
100. Paragraph 11(2)(e) of the Act is repealed.
101. Paragraph 12(c) of the Act is replaced by the following:
(c) so much of any one deposit as exceeds one hundred thousand dollars.
102. Subsection 13(2) of the Act is replaced by the following:
Marginal note:Deposits with amalgamated institution
(2) A deposit made by a person referred to in subsection (1) with an amalgamated institution after the day on which the amalgamated institution is formed shall be insured by the Corporation only to the extent that the aggregate of that person’s deposits with the amalgamated institution, exclusive of the deposit in respect of which the calculation is made, is less than one hundred thousand dollars.
Marginal note:1996, c. 6, s. 26(3)
103. Subsection 14(2.4) of the Act is replaced by the following:
Marginal note:Corporation may pay interest
(2.4) Where the Corporation makes a payment pursuant to subsection (2), the Corporation may pay, in addition to the amount the Corporation is obliged to pay, interest on that amount at a rate determined in accordance with rules prescribed by the by-laws for the period commencing on the date of the commencement of the winding-up in respect of the member institution that holds the deposit and ending on the date of the making of the payment in respect of the deposit, but the aggregate of the payments made under this subsection and subsection (2) in relation to the deposit shall in no case exceed one hundred thousand dollars.
Marginal note:R.S., c. 18 (3rd Supp.), s. 54; 1991, c. 45, s. 543
104. (1) Subsection 17(1) of the Act is replaced by the following:
Marginal note:Insurance of federal institutions
17. (1) The Corporation shall insure the deposits held by a federal institution in the manner and to the extent provided in this Act and the by-laws.
Marginal note:Insurance of provincial institutions
(1.1) On the application of a provincial institution, the Corporation may insure the deposits held by the institution in the manner and to the extent provided in this Act and the by-laws, if
(a) the Corporation approves the institution for deposit insurance;
(b) the institution is authorized by the province of its incorporation to apply for deposit insurance;
(c) the institution agrees, in carrying on its business, not to exercise powers substantially different from the powers exercisable by a company to which the Trust and Loan Companies Act applies; and
(d) the Corporation is satisfied that at all times the Corporation will have adequate access to information regarding the institution.
Marginal note:R.S., c. 18 (3rd Supp.), s. 54
(2) Subsection 17(3) of the Act is repealed.
Marginal note:2001, c. 9, s. 210
105. Paragraph 29(1)(b) of the Act is replaced by the following:
(b) comment on the operations of the member institution; and
Marginal note:1992, c. 26, s. 9(E)
106. Paragraph 30(1)(a) of the Act is repealed.
Marginal note:1992, c. 26, s. 10(E)
107. (1) The portion of subsection 31(1) of the Act before paragraph (a) is replaced by the following:
Marginal note:Notice of termination
31. (1) Where a report has been sent or delivered under subsection 30(1) and the progress made by the member institution in remedying the breach is not satisfactory to the Corporation, the Corporation shall, by notice,
Marginal note:R.S., c. 18 (3rd Supp.), s. 62
(2) Paragraph 31(3)(a) of the Act is replaced by the following:
(a) the Corporation is satisfied that the member institution is taking the necessary action to remedy the breach to which the notice relates; or
Marginal note:1996, c. 6, s. 36
(3) Subsections 31(4) and (5) of the Act are replaced by the following:
Marginal note:Where report on federal member institution
(4) Where a report has been sent or delivered under subsection 30(1) in respect of a federal member institution and the member institution and the Minister have been informed in accordance with subsection (1) by the Corporation that the Corporation is not satisfied with the member institution’s progress in remedying the breach to which the report relates, the Corporation may, unless the Minister advises the Corporation that the Minister is of the opinion that it is not in the public interest to do so, give the member institution not less than thirty days notice of the termination of its policy of deposit insurance.
Marginal note:Termination of policy
(5) The policy of deposit insurance of a federal member institution shall terminate on the expiration of the period specified in the notice given under subsection (4) or such later period not exceeding sixty days as the Corporation may determine unless, before the expiration of that period, the Corporation is satisfied that the member institution is taking the necessary action to remedy the breach to which the notice relates.
Page Details
- Date modified: