This Act sets several commencement and transitional rules, authorizes the Minister of Finance to buy certain shares, and preserves earlier First Nations land documents and actions.
An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022 His Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows: Short title This Act may be cited as the Fall Economic Statement Implementation Act, 2022. R.S., c. 1 (5th Supp.) [Amendments] R.S., c. C-3 R.S., c. E-15 2002, c. 9, s. 5 2002, c. 22 2018, c. 12, s. 186 C.R.C., c. 945 2022, c. 10 SOR/86-991 SOR/2003-115 SOR/2003-288; 2018, c. 12, s. 108; 2022, c. 10, s. 116 SOR/2019-78 2022, c. 5, s. 10 December 31, 2022 Section 1, subsection 2(1) and section 3 of the Underused Housing Tax Regulations, as made by section 116, come into force or are deemed to have come into force on December 31, 2022. 2022 and subsequent calendar years Subsections 2(2) and (3) of the Underused Housing Tax Regulations, as made by section 116, apply to the 2022 and subsequent calendar years. Authority and Statutory Instruments Act The Underused Housing Tax Regulations, as made by section 116, are deemed to have been made under section 84 of the Underused Housing Tax Act; for the purposes of subsection 5(1) of the Statutory Instruments Act, to have been transmitted to the Clerk of the Privy Council for registration; and to have met the publication requirements of subsection 11(1) of the Statutory Instruments Act. Acquisition of shares The Minister of Finance may acquire and hold on behalf of His Majesty in right of Canada non-voting shares of a corporation that is incorporated as a wholly-owned subsidiary of the Canada Development Investment Corporation and that is responsible for administering the Canada Growth Fund. Consolidated Revenue Fund On the requisition of the Minister of Finance, there may be paid out of the Consolidated Revenue Fund amounts not exceeding $15,000,000,000 in the aggregate, or any greater amount that is specified in an appropriation Act, for the acquisition of shares under subsection (1). Not agent of His Majesty The subsidiary referred to in section 118 is not an agent of His Majesty in right of Canada. R.S., c. B-7; R.S., c. 24 (1st Supp.), s. 3 Definition of former Act In this section and sections 123 and 124, former Act means the First Nations Land Management Act, chapter 24 of the Statutes of Canada, 1999. Other definitions In sections 123 and 124, First Nation law, Framework Agreement, individual agreement, interest, land code, licence and right have the same meaning as in subsection 2(1) of the former Act, as it read immediately before the day on which section 143 of this Act comes into force. Documents and decisions previously made Nothing in this Act affects any land codes, individual agreements, First Nation laws or documents, including licences and other authorizations, contracts and other instruments or acts, that were issued, granted, entered into or made in accordance with the former Act or the Framework Agreement and that are in force on the day on which this Act comes into force; any actions taken or decisions made, before the day on which this Act comes into force, in accordance with the former Act or the Framework Agreement, including the registration of an interest or right in the First Nation Land Register, as established under section 25 of the former Act and the establishment of priorities or, in Quebec, rankings among interests or rights that have been registered. Reference to former Act Unless the context otherwise requires, any reference to the former Act, or any provision of that Act, in any land codes, individual agreements, First Nation laws or documents referred to in paragraph 123(a) is to be read as a reference to the Framework Agreement on First Nation Land Management Act or the Framework Agreement, or any relevant provision of that Act or Agreement, as the case may be. R.S., c. I-7 2004, c. 17 2005, c. 48 2006, c. 10 2008, c. 32 2013, c. 20 2014, c. 11 Repeal The First Nations Land Management Act, chapter 24 of the Statutes of Canada, 1999, is repealed. R.S., c. G-5 R.S., c. S-23 1994, c. 28 2014, c. 20, s. 483 Definitions The following definitions apply in this section. apprentice loan has the same meaning as in subsection 1(1) of the Apprentice Loans Regulations. (prêt aux apprentis) borrower has the same meaning as in subsection 1(1) of the Apprentice Loans Regulations. (emprunteur) transition period means the period beginning on April 1, 2023 and ending on the day on which a regulation amending or repealing section 4 of the Apprentice Loans Regulations comes into force. (période de transition) Repayment of principal and interest During the transition period, a borrower must begin to repay the principal amount of an apprentice loan made to them, and any interest, on the last day of the month in which interest would have started accruing under the Apprentice Loans Regulations but for subsection 8(1) of the Apprentice Loans Act, as enacted by section 164. April 1, 2023 Subject to subsections (2) and (3), this Division comes into force or is deemed to have come into force on April 1, 2023. Order in council Sections 146, 147, 150 to 152, 157 and 158, subsections 159(2) and (3) and sections 160 and 166 come into force on a day to be fixed by order of the Governor in Council, but that day must be after March 31, 2023. [Note: Sections 146, 147, 150 to 152, 157 and 158, subsections 159(2) and (3) and sections 160 and 166 in force December 9, 2023, see SI/2023-78.] April 1, 2021 Section 165 is deemed to have come into force on April 1, 2021.