Bill C-256: An Act to amend the Financial Administration Act (composition of boards of directors)

R.S., c. F- 11 Financial Administration Act 1 Section 105 of the Financial Administration Act is amended by adding the following after subsection (1): Tabling in Parliament (1.1) The appropriate Minister shall cause notice of any appointment made under subsection (1) to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the appointment is made. 2 The Act is amended by adding the following after section 105: Composition of board 105.1 (1) The board of directors of a parent Crown corporation shall not be composed of fewer women than men. Void appointment (2) The appointment of a person as director of a parent Crown corporation that would result in its board being composed of fewer women than men is void. Validity of acts (3) An act of the board of directors of a parent Crown corporation whose composition is not in compliance with subsection (1) is not void on the sole ground of that non-compliance. Report — status 105.2 (1) Within six months after the day on which this section comes into force, the appropriate Minister shall cause a report on the male-to-female composition of the board of directors of each parent Crown corporation for which the Minister is accountable to Parliament to be tabled in each House of Parliament. Review (2) On the fifth anniversary of the day on which this section comes into force and every five years after that, a comprehensive review of section 105.1 and its operation shall be undertaken by the committee of the Senate, of the House of Commons or of both Houses of Parliament that may be designated or established for that purpose. Transitional Provision Board of directors — non-compliance 3 If, on the day on which section 2 comes into force, the board of directors of a parent Crown corporation is composed of fewer women than men, the appropriate Minister may only appoint women as directors until there are no fewer women than men serving as directors on the board. Coming into Force Coming into force 4 This Act, other than section 1, comes into force on the sixth anniversary of the day on which it receives royal assent.