Annex
3:
Legislative Measures
This annex includes a number of 2024 Fall Economic Statement measures (other than tax-related measures) that would be implemented through legislation.
| Subject of the Measure | Proposed Legislative Action |
|---|---|
| Implementing Canada’s Consumer-Driven Banking Framework | In FES 2024, the government proposes to amend the Consumer-Driven Banking Act and the Financial Consumer Agency of Canada Act to introduce the outstanding legislative elements of Canada’s Consumer-Driven Banking Framework. The amendments relate to, among other things, accreditation, national security, data sharing, security safeguards, consent, authentication, liability, complaints, administration and enforcement, and screen scraping. |
| Making Automatic Tax Filing a Reality | In FES 2024, the government proposes to amend the Canada Revenue Agency Act to provide that the Minister of National Revenue’s responsibilities include advancing the simplification and automation of individual tax filing in Canada. |
| Cracking Down on Predatory Lending | In FES 2024, the government proposes to amend the Criminal Code’s payday lending exemption (section 347.1) under the criminal interest rate provision to i) require a minimum term of 42 days and repayment in installments, and ii) prohibit credit insurance charges, on payday loans. |
| Penalizing Predatory Debt Advisors | In FES 2024, the government proposes to add civil remedies, including restitution, for non-compliance with certain provisions of the Bankruptcy and Insolvency Act, and to increase the maximum criminal fine for non-compliance with certain provisions of that Act from $5,000 to $100,000 for individuals, and $1 million for corporations. |
| Farm Credit Canada Legislative Review | In FES 2024, the government proposes to amend the Farm Credit Canada Act to require regular legislative reviews to ensure alignment with the needs of the agriculture and agri-food sector. |
| Mandatory Climate-related Financial Disclosures | In FES 2024, the government proposes to amend the Canada Business Corporations Act to create a regulatory authority that provides for climate-related financial disclosures by large federally incorporated private corporations. |
| Protecting Artists’ and Creators’ Copyright | In FES 2024, the government proposes to amend the Copyright Act to establish an artist's resale right in Canada. |
| Restricting Trade with Countries That Harm Canada | In FES 2024, the government proposes to amend the Export and Import Permits Act to enable the government to restrict importation or exportation of items in response to actions of another country that harm Canada or to create more secure and reliable supply chains. |
| Eradicating Forced Labour from Our Supply Chains | In FES 2024, the government proposes to introduce legislation to strengthen the import ban on goods produced using forced labour. |
| Protecting the Integrity of Canada’s Visa System | In FES 2024, the government proposes to amend the Immigration and Refugee Protection Act to secure and extend legislative authorities to cancel, suspend, or vary immigration documents for reasons deemed in the public interest. |
| Strengthening Information Disclosures from Sex Offender Registries | In FES 2024, the government proposes to amend the Sex Offender Information Registration Act to enhance the ability of the Royal Canadian Mounted Police (RCMP) to share information collected under the Act with domestic and international partners. |
| Rebuilding Ukraine with Frozen Russian Assets | In FES 2024, the government proposes to amend the Special Economic Measures Act to introduce a targeted charge on the windfall profits of immobilized assets held by federally regulated financial institutions, as well as require the Minister of Finance be consulted on sanctions that may pose risks to Canada’s financial system. |
| Cracking Down on Money Laundering and Terrorist Financing | In FES 2024, the government proposes to amend the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) to strengthen Canada’s anti-money laundering and anti-terrorist financing (AML/ATF) framework by introducing universal enrollment for reporting entities, permitting disclosures to the Office of the Commissioner of Canada Elections, as well as making technical amendments. |
| Stronger Penalties for Financial Crimes | In FES 2024, the government proposes to amend the PCMLTFA, with small, targeted and consequential amendments to regulations under the PCMLTFA, to strengthen AML/ATF penalties and support compliance with PCMLTFA requirements. |
| Advancing Innovative Procurement | In FES 2024, the government announces its intent to introduce the Small Business Innovation and Procurement Act to establish a Canadian small and medium sized business procurement target and a Canadian innovative business procurement target. |
| Bringing into Force Sections 6 and 7 of the Payment Card Networks Act | In FES 2024, the government proposes to bring into force Section 6 and Section 7 of the Payment Card Networks Act to preserve the government’s regulatory and enforcement authorities with respect to payment card networks and the commercial practices of their operators. |
| Legislating the Chief Science Advisor Role | In FES 2024, the government proposes to legislate the role and mandate of the Chief Science Advisor. |
| Duty Relief for Donated Goods | In FES 2024, the government proposes to amend the Customs Tariff to allow for duty drawback for certain goods when they are donated to a registered charity under the Income Tax Act, provided they are to be used in the organization’s charitable programs and not re-sold in Canada. |
| Early Retirement Benefits for Frontline Workers in the Public Service | In FES 2024, the government proposes to amend the Public Service Superannuation Act to extend the operational service early retirement program to additional frontline employee groups in the federal public service, as announced by the President of the Treasury Board in June 2024. This special retirement benefit will allow firefighters, border services officers, parliamentary protection officers, and other frontline employees to retire earlier with an immediate unreduced pension after completing 25 years of actual operational service, or at age 50 with 25 years of actual and deemed operational service combined (at least 10 years of actual), as is presently available to employees of Correctional Service Canada working in a federal correctional institution. The proposed amendments would also ensure consistency in treatment for all eligible employees, allowing for career mobility within the public service. |
| Amendments to the Yukon Environmental and Socio-economic Assessment Act | In FES 2024, the government proposes to amend the Yukon Environmental and Socio-economic Assessment Act to exempt certain projects from re-assessment with consent from affected Yukon First Nations to promote more efficient and effective regulatory processes in advance of a more comprehensive review of the Act. |
| Amendments to the Customs Act | In FES 2024, the government proposes to amend the Customs Act to compel carriers and sufferance warehouse operators to grant access to Canada Border Services Agency (CBSA) officers to examine goods destined for export, as well as obligate owners and operators to provide adequate facilities for these officers to carry out the CBSA’s mandate. |
| Bail and Sentencing Reform for Auto Theft, Break & Enter, Extortion, and Organized Crime | In FES 2024, the government proposes to amend the Criminal Code to make bail and sentencing laws stricter to respond to public safety concerns related to violent offending and to violent and organized crime offences involving auto theft, break and enter, extortion, and arson. |
| Amendments to Judges Act for Ontario | In FES 2024, the government proposes to amend the Judges Act to move 10 judicial positions in Ontario to Unified Family Courts positions (8 positions) and Ontario Court of Appeal positions (2 positions). |
| Aeronautics Act Amendments | In FES 2024, the government proposes to amend the Aeronautics Act to further strengthen Canada’s aviation safety and security regime. |
| Review of Financial Institutions Supervisory Committee Membership | In FES 2024, the government proposes to amend the Office of the Superintendent of Financial Institutions Act and the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) to make the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) a member of the Financial Institutions Supervisory Committee (FISC) and enable FINTRAC and current FISC members to exchange regulatory and supervisory information relevant to the mandate and objectives of FISC. |
| Amendments to the Export Development Act | In FES 2024, the government proposes to amend the Export Development Act to introduce a new authority for the Minister of International Trade, with the concurrence of the Minister of Finance, to assign new duties and functions to Export Development Canada in line with the Crown corporation’s existing mandate and powers. |
| Asylum Integrity and Processing | In FES 2024, the government proposes to introduce legislative amendments to the Immigration and Refugee Protection Act that would uphold the integrity and fairness of the asylum system, including by streamlining the intake, processing, and adjudication of claims. |
Page details
- Date modified: