International Development (Financial Institutions) Assistance Act

An Act to authorize continuing financial assistance to be provided to certain international financial institutions Short title This Act may be cited as the International Development (Financial Institutions) Assistance Act. Definition of institution In this Act, institution means any international financial institution named in the schedule. Assistance The Minister of Foreign Affairs, in consultation with the Minister of Finance, may, for the purpose of promoting the social and economic development of developing countries, provide financial assistance to an institution by way of direct payments to the institution; the issuance to the institution of non-interest bearing, non-negotiable demand notes in a form determined by the Minister of Finance; the purchase on behalf of His Majesty in right of Canada of shares of the institution; with the written concurrence of the Minister of Finance, the issuance of guarantees; and with the written concurrence of the Minister of Finance, any other manner that the Minister of Foreign Affairs considers appropriate. [Note: See 1997, c. 19.] Amendment of schedule The Governor in Council may, by order, amend the schedule by adding thereto the name of any international financial institution that is recognized by the Governor in Council as being a financial institution through which the purpose referred to in section 3 can be carried out; by deleting therefrom the name of any international financial institution the name of which has been changed and substituting therefor its new name; or by deleting therefrom the name of any international financial institution that has ceased to exist or is no longer recognized by the Governor in Council as being a financial institution through which the purpose referred to in section 3 can be carried out. Tabling order An order of the Governor in Council under section 4 shall be laid before Parliament not later than the fifteenth sitting day of Parliament after it is made. Coming into force of order An order referred to in subsection (1) shall come into force on the twentieth sitting day of Parliament after it has been laid before Parliament pursuant to that subsection unless, before that time, a motion for the consideration of the House of Commons to the effect that the order be confirmed, signed by a minister of the Crown, is filed with the Speaker of the House of Commons; or if no motion has been filed under paragraph (a), a motion for the consideration of the House of Commons to the effect that the order be revoked, signed by not less than thirty members of the House of Commons, is filed with the Speaker of the House of Commons. Consideration of motion by the House of Commons Where a motion for the consideration of the House of Commons is filed as provided in subsection (2), the House of Commons shall, not later than the sixth sitting day of Parliament following the filing of the motion, take up and consider the motion. Time for disposition of motion A motion taken up and considered in accordance with subsection (3) shall be debated without interruption for not more than three hours and, on the conclusion of such debate or at the expiration of the third such hour, the Speaker of the House of Commons shall forthwith, without further debate or amendment, put every question necessary for the disposition of the motion. If affirmative motion is not adopted by the House of Commons If a motion described in paragraph 5(2)(a) is taken up and considered by the House of Commons in accordance with subsection 5(3) but is not adopted by that House, the particular order to which the motion relates shall stand revoked. If negative motion is adopted by the House of Commons If a motion described in paragraph 5(2)(b) is adopted by the House of Commons, the particular order to which the motion relates shall stand revoked. If affirmative motion is adopted by the House of Commons If a motion described in paragraph 5(2)(a) is taken up and considered by the House of Commons in accordance with subsection 5(3), and is adopted by that House, a message shall be sent from the House of Commons informing the Senate that the motion has been so adopted and requesting that the motion be concurred in by the Senate. Consideration of motion by the Senate Where a request for concurrence in a motion is made to the Senate pursuant to subsection (1), the Senate shall, not later than the fifth sitting day of Parliament following the receipt by the Senate of the request, take up and consider the motion. A motion taken up and considered in accordance with subsection (2) shall be debated without interruption for not more than three hours and, on the conclusion of such debate or at the expiration of the third such hour, the Speaker of the Senate shall forthwith, without further debate or amendment, put every question necessary to determine whether or not the motion in question is concurred in. If motion is concurred in If a motion taken up and considered in accordance with subsection (2) is concurred in by the Senate, the particular order to which the motion relates comes into force immediately on the concurrence therein. If motion is not concurred in If a motion taken up and considered in accordance with subsection (2) is not concurred in by the Senate, the particular order to which the motion relates shall stand revoked. If negative motion is not adopted by the House of Commons If a motion described in paragraph 5(2)(b) is taken up and considered by the House of Commons in accordance with subsection 5(3) but is not adopted by that House, the particular order to which the motion relates shall come into force on the fifth sitting day of Parliament after the failure of the House of Commons to adopt the motion unless before that day a motion to the effect that the order be revoked, signed by not less than fifteen members of the Senate, is filed with the Speaker of the Senate. Where a motion for the consideration of the Senate is filed as provided in subsection (1), the Senate shall, not later than the sixth sitting day of Parliament following the filing of the motion, take up and consider the motion. A motion taken up and considered in accordance with subsection (2) shall be debated without interruption for not more than three hours and, on the conclusion of such debate or at the expiration of the third such hour, the Speaker of the Senate shall forthwith, without further debate or amendment, put every question necessary for the disposition of the motion. If motion adopted If a motion taken up and considered in accordance with subsection (2) is adopted by the Senate, the particular order to which the motion relates shall stand revoked. If motion not adopted If a motion taken up and considered in accordance with subsection (2) is not adopted by the Senate, the particular order to which the motion relates comes into force immediately on the failure of the Senate to adopt the motion. Revocation on prorogation or dissolution of Parliament An order of the Governor in Council under section 4 that has been laid before Parliament but has not come into force shall stand revoked on the dissolution or prorogation of Parliament. Definition of sitting day of Parliament For the purposes of this Act, sitting day of Parliament means a day on which either House of Parliament sits. Payment out of C.R.F. The Minister of Foreign Affairs may make payments out of the Consolidated Revenue Fund for the purpose mentioned in section 3. Limitation Payments made for the purpose mentioned in section 3 in any period may not exceed the amount, if any, specified for the purpose in respect of that period in an appropriation by Parliament.