R.S., c. F-
11 Financial Administration Act 2018, c. 23, s. 16
1 Schedule VII to the Financial Administration Act is amended by replacing “Comprehensive and Progressive Agreement for Trans-Pacific Partnership between Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, done at Santiago on March 8, 2018.” with the following: Comprehensive and Progressive Agreement for Trans-Pacific Partnership between Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, done at Santiago on March 8, 2018, and any accession protocol that is listed in the schedule to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership Implementation Act . R.S., c. 17 (2nd Supp.)
Commercial Arbitration Act 2018, c. 23, s. 31
2 Schedule 2 to the Commercial Arbitration Act is amended by replacing “Comprehensive and Progressive Agreement for Trans-Pacific Partnership between Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, done at Santiago on March 8, 2018” in column 2 with the following: Comprehensive and Progressive Agreement for Trans-Pacific Partnership between Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, done at Santiago on March 8, 2018, and any accession protocol that is listed in the schedule to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership Implementation Act 1991, c.
45 Trust and Loan Companies Act 2020, c. 1, s. 153
3 The definition regulated foreign entity in section 2 of the Trust and Loan Companies Act is replaced by the following: regulated foreign entity has the same meaning as in section 2 of the Bank Act ; ( entité étrangère réglementée ) 1991, c.
46 Bank Act 2020, c. 1, s. 158
4 Paragraph (a) of the definition regulated foreign entity in section 2 of the Bank Act is replaced by the following: (a) incorporated or formed otherwise in a country or territory, other than Canada, that is referred to in Schedule IV, and 2020, c. 1, s. 159
5 Section 14.11 of the Act is replaced by the following: Schedule IV 14.
11 For the purpose of implementing Canada’s international trade obligations, the Governor in Council may, by order, amend Schedule IV by adding, deleting or amending any item. 2020, c. 1, s. 160
6 Subsection 239(3.1) of the Act is replaced by the following: Exception (3.1)
Subject to subsection 245(1.1), subsection (1) does not apply to a bank that is a subsidiary of a foreign bank incorporated or formed otherwise in a country or territory, other than Canada, that is referred to in Schedule IV or of a regulated foreign entity. 2020, c. 1, s. 163
7 Subsection 251(3) of the Act is replaced by the following: Exception (3)
Subject to subsection 245(1.1), subsection (1) does not apply to a bank that is a subsidiary of a foreign bank incorporated or formed otherwise in a country or territory, other than Canada, that is referred to in Schedule IV or of a regulated foreign entity. 2020, c. 1, s. 164
8 Paragraphs 597(2.1)(a) and (b) of the Act are replaced by the following: (a) incorporated in a country or territory, other than Canada, that is referred to in Schedule IV; or (b) a subsidiary of a foreign bank incorporated or formed otherwise in a country or territory, other than Canada, that is referred to in Schedule IV or of a regulated foreign entity. 2020, c. 1, s. 166
9 Subsection 816(1.1) of the Act is replaced by the following: Exception (1.1)
Subject to subsection 822(1.1), subsection (1) does not apply to a bank holding company that is a subsidiary of a foreign bank incorporated or formed otherwise in a country or territory, other than Canada, that is referred to in Schedule IV or of a regulated foreign entity. 2020, c. 1, s. 169
10 Subsection 828(3) of the Act is replaced by the following: Exception (3)
Subject to subsection 822(1.1), subsection (1) does not apply to a bank holding company that is a subsidiary of a foreign bank incorporated or formed otherwise in a country or territory, other than Canada, that is referred to in Schedule IV or of a regulated foreign entity. 2020, c. 1, s. 170; SOR/2021-146, s. 1
11 Schedule IV to the Act is replaced by the Schedule IV set out in Schedule 1 to this Act. 1991, c.
47 Insurance Companies Act 2020, c. 1, s. 171
12 The definition regulated foreign entity in subsection 2(1) of the Insurance Companies Act is replaced by the following: regulated foreign entity has the same meaning as in section 2 of the Bank Act ; ( entité étrangère réglementée ) 1997, c.
36 Customs Tariff 2018, c. 23, s. 40
13 The definition CPTPP tariff in subsection 2(1) of the Customs Tariff is amended by striking out “and” at the end of paragraph (j), by adding “and” at the end of paragraph (k) and by adding the following after paragraph (k): (l) the Comprehensive and Progressive United Kingdom Tariff. ( tarif PTPGP )
14 Section 27 of the Act is amended by adding the following in alphabetical order: CPUKT refers to the Comprehensive and Progressive United Kingdom Tariff. ( TUKGP )
15 The Act is amended by adding the following after section 52.81: Comprehensive and Progressive United Kingdom Tariff Application of CPUKT 52.82 (1)
Subject to section 24, goods that are entitled to the Comprehensive and Progressive United Kingdom Tariff are entitled to the Comprehensive and Progressive United Kingdom Tariff rates of customs duty. “A” final rate for CPUKT (2)
If “A” is set out in the column entitled “Preferential Tariff” in the List of Tariff Provisions following the abbreviation “CPUKT” in relation to goods entitled to the Comprehensive and Progressive United Kingdom Tariff, the Comprehensive and Progressive United Kingdom Tariff rate of customs duty that applies to those goods is the final rate of “Free”. “F” staging for CPUKT (3)
If “F” is set out in the column entitled “Preferential Tariff” in the List of Tariff Provisions following the abbreviation “CPUKT” in relation to goods entitled to the Comprehensive and Progressive United Kingdom Tariff, the Comprehensive and Progressive United Kingdom Tariff rate of customs duty that applies to those goods is the initial rate, reduced as provided in the “F” Staging List. Staging for CPUKT (4)
Subject to subsection (5), if “X78”, “X79” or “X80” is set out in the column entitled “Preferential Tariff” in the List of Tariff Provisions following the abbreviation “CPUKT” in relation to goods entitled to the Comprehensive and Progressive United Kingdom Tariff, the Comprehensive and Progressive United Kingdom Tariff rate of customs duty that applies to those goods is, (a) if “X78” is set out, the initial rate, reduced, (i) effective on the first day on which the Comprehensive and Progressive Trans-Pacific Partnership Agreement is in effect between Canada and the United Kingdom, to three elevenths of the initial rate, (ii) effective on January 1, 2026, to two elevenths of the initial rate, (iii) effective on January 1, 2027, to one eleventh of the initial rate, and (iv) effective on January 1, 2028, to the final rate of “Free”; (b) if “X79” is set out, the initial rate, (i) without reduction, effective on the first day on which the Comprehensive and Progressive Trans-Pacific Partnership Agreement is in effect between Canada and the United Kingdom, (ii) reduced, effective on January 1, 2026, to three quarters of the initial rate, (iii) reduced, effective on January 1, 2027, to one half of the initial rate, (iv) reduced, effective on January 1, 2028, to one quarter of the initial rate, and (v) reduced, effective on January 1, 2029, to the final rate of “Free”; and (c) if “X80” is set out, the initial rate, reduced, (i) effective on the first day on which the Comprehensive and Progressive Trans-Pacific Partnership Agreement is in effect between Canada and the United Kingdom, to one quarter of the initial rate, and (ii) effective on January 1, 2029, to the final rate of “Free”. No retroactive effect (5)
The rates of customs duty set out in subsection (4) shall have no effect in respect of a period before the first day on which the Comprehensive and Progressive Trans-Pacific Partnership Agreement is in effect between Canada and the United Kingdom. Rounding of specific rates (6)
If a reduction under subsection (3) or (4) results in a specific rate of customs duty that includes a fraction of one hundredth of a cent, the rate shall be rounded down to the nearest one hundredth of a cent. Rounding of ad valorem rates (7)
If a reduction under subsection (3) or (4) results in a rate of customs duty that includes a fraction of one per cent, the resulting percentage shall be rounded down to the nearest one tenth of one per cent. Rounding of ad valorem rates — fraction other than 0.5 (8)
If, for any goods other than motor vehicles of heading No. 87.01, 87.02, 87.03, 87.04 or 87.05, a reduction under subsection (3) or (4) or a rounding of rates under subsection (7) results in a rate of customs duty that includes a fraction of one per cent other than 0.5, the resulting percentage shall be rounded down to the nearest percentage that divides evenly by 0.5. Elimination of rates of less than 2 per cent (9)
If, for any goods other than motor vehicles of heading No. 87.01, 87.02, 87.03, 87.04 or 87.05, a reduction under subsection (3) or (4) results in a rate of customs duty that is a percentage of less than two per cent, the rate shall be further reduced to “Free” immediately. Extension of entitlement 52.83 (1)
The Governor in Council may, on the recommendation of the Minister, by order, amend the schedule to extend entitlement to the Comprehensive and Progressive United Kingdom Tariff to any goods that originate in a CPTPP country. Retroactivity (2)
An order made under subsection (1) may, if it so provides, be retroactive and have effect in respect of a period before it is made, but no such order may have effect in respect of a period before the first day on which the Comprehensive and Progressive Trans-Pacific Partnership Agreement is in effect between Canada and the United Kingdom. Content of order (3)
An order made under subsection (1)
(a) must specify the date on which the order becomes effective; (b) must, if the order partially extends entitlement to the Comprehensive and Progressive United Kingdom Tariff, indicate the goods to which entitlement to that Tariff is extended; and (c) may exempt goods from the conditions set out in subsection 24(1) and prescribe any conditions that apply. 2018, c. 23, s. 44 16 (1)
The portion of paragraph 76(4)(b) of the Act before subparagraph (i) is replaced by the following: (b) may — in respect of goods that are entitled to the Comprehensive and Progressive Trans-Pacific Partnership Tariff — be in effect during the period beginning on December 30, 2018 and ending (2)
Subsection 76(4) of the Act is amended by adding the following after paragraph (b): (c) may — in respect of goods that are entitled to the Comprehensive and Progressive United Kingdom Tariff — be in effect during the period beginning on the day on which this subsection comes into force and ending (i) on the third anniversary of the first day on which the Comprehensive and Progressive Agreement for Trans-Pacific Partnership is in effect for the United Kingdom, if the order is in respect of goods for which the Comprehensive and Progressive United Kingdom Tariff is at its final rate of “Free” on that anniversary, and (ii) on the day on which the Comprehensive and Progressive United Kingdom Tariff rate of customs duty is reduced to its final rate of “Free”, if the order is in respect of goods for which the Comprehensive and Progressive United Kingdom Tariff rate of customs duty is not at its final rate of “Free” on the anniversary referred to in subparagraph (i).
17 The List of Countries and Applicable Tariff Treatments set out in the schedule to the Act is amended by adding, in the column “Tariff Treatment / Other”, a reference to “CPUKT” opposite the references to “Channel Islands”, “Isle of Man” and “United Kingdom”.
18 The List of Tariff Provisions set out in the schedule to the Act is amended by (a) adding in the column “Preferential Tariff / Initial Rate”, above the reference to “GPT”, a reference to “CPUKT:”; (b) adding in the column “Preferential Tariff / Final Rate”, above the reference to “GPT”, a reference to “CPUKT:”; (c) adding in the column “Preferential Tariff / Initial Rate” a reference to “Free” after the abbreviation “CPUKT”, and adding in the column “Preferential Tariff / Final Rate” a reference to “Free (A)” after the abbreviation “CPUKT”, for all tariff items except those tariff items set out in Schedules 2 and 3 to this Act; (d) adding in the columns “Preferential Tariff / Initial Rate” and “Preferential Tariff / Final Rate”, a reference to “N/A” after the abbreviation “CPUKT” for those tariff items set out in Schedule 2 to this Act; and (e) adding in the columns “Preferential Tariff / Initial Rate” and “Preferential Tariff / Final Rate” after the abbreviation “CPUKT”, for each tariff item set out in Schedule 3 to this Act, the rates of customs duty and staging categories set out with respect to that tariff item in that Schedule. 2018, c.
23 Comprehensive and Progressive Agreement for Trans-Pacific Partnership Implementation Act
19 The definition Agreement in section 2 of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership Implementation Act is replaced by the following: Agreement means the Comprehensive and Progressive Agreement for Trans-Pacific Partnership between Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, done at Santiago on March 8, 2018, and any accession protocol that is listed in the schedule. ( Accord )
20 Section 9 of the Act is renumbered as subsection 9(1) and is amended by adding the following: For greater certainty (2)
For greater certainty, any accession protocol that is listed in the schedule is also approved. 20.
1 The Act is amended by adding the following after section 13: Review of Accession of United Kingdom Review by committee 13.1 (1)
Three years after the coming into force of this Act, and at the end of every three-year period after that, a comprehensive review of the accession of the United Kingdom to the Agreement and of the provisions and operation of this Act, including the effect of those provisions, must be undertaken by a committee of the House of Commons that is designated or established by the House for that purpose. Report (2)
The committee must, within six months after the completion of the review, submit to the House of Commons a report setting out its findings and any changes it would recommend.
21 Section 47 of the Act is repealed.
22 Schedules 1 to 13 to the Act are replaced by the schedule set out in Schedule 4 to this Act. Coming into Force Order in council
23 This Act comes into force on a day to be fixed by order of the Governor in Council.
