Part 6 – Division 23
Overview: Budget Implementation Act, 2009
Economic Action Plan 2014 highlights the agreement in principle reached between Canada, British Columbia and Ontario on September 19, 2013, to establish a cooperative capital markets regulator. The cooperative regulator will better protect investors, enhance Canada’s financial services sector, support more efficient capital markets and more effectively manage systemic risk in national capital markets.
The agreement in principle of September 19, 2013 specifies that the Government of Canada will make payments to those provinces or territories that would lose net revenue by joining the cooperative system. The Government proposes to amend the Budget Implementation Act, 2009 to allow the aggregate amount of direct payments that the Minister of Finance may make to provinces and territories for matters relating to the establishment of a Canadian securities regulation regime to be fixed through an appropriation Act.