Bill C-284: An Act to amend the Department of Industry Act (financial assistance)

Bill C-284 If you have any questions or comments regarding the accessibility of this publication, please contact us at [email protected]. First Reading LEGISinfo Bilingual view XML PDF Skip to Document Navigation Skip to Document Content ENGLISHSUMMARYSUMMARY1 Department of Industry Act1 Department of Industry Act2 Coming into Force2 Coming into Force Second Session, Forty-third Parliament, 69-70 Elizabeth II, 2020-2021 HOUSE OF COMMONS OF CANADA BILL C-284 An Act to amend the Department of Industry Act (financial assistance) FIRST READING, April 13, 2021 Ms. McLeod 432014 SUMMARY This enactment amends the Department of Industry Act in order to require the Minister of Industry to publish certain information concerning the financial assistance provided either under section 14 of the Act or by any economic development or opportunities agency for which the Minister has responsibility. Available on the House of Commons website at the following address: www.ourcommons.ca 2nd Session, 43rd Parliament, 69-70 Elizabeth II, 2020-2021 HOUSE OF COMMONS OF CANADA BILL C-284 An Act to amend the Department of Industry Act (financial assistance) Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows: 1995, c. 1 Department of Industry Act 1 The Department of Industry Act is amended by adding the following after section 14: Publication — financial assistance 14.‍1 Within 90 days after the end of each fiscal year in which loans or grants and contributions were made or loan insurance or credit insurance was provided, either under section 14 or by any economic development or opportunities agency for which the Minister has responsibility, the Minister shall publish the following information on the Department of Industry’s website: (a) a statement of all loans or grants and contributions of $100,000 or more made, and loan insurance or credit insurance provided during that fiscal year; (b) the circumstances of and terms and conditions for repayment of the loans made, including the repayment method and schedule, and the repayment status; and (c) in the event that stock options or other financial or similar instruments were obtained as a condition under which loans or grants and contributions were made, or loan insurance or credit insurance provided, the details of these options, including the number of options acquired, exercised, assigned or sold, and the terms and conditions attached to the options. Coming into Force Coming into force 2 This Act comes into force 90 days after the day on which it receives royal assent. Published under authority of the Speaker of the House of Commons Publication Explorer Publication Explorer ParlVU