18. No public office holder shall take any action that has as its purpose the circumvention of the public office holder’s obligations under this Act.
Marginal note:Condition of appointment or employment
19. Compliance with this Act is a condition of a person’s appointment or employment as a public office holder.
20. The following definitions apply in this Part.
« bien »
“assets” includes any trusts in respect of which a public office holder or a member of his or her family is a beneficiary.
« bien contrôlé »
“controlled assets” means assets whose value could be directly or indirectly affected by government decisions or policy including, but not limited to, the following:
(a) publicly traded securities of corporations and foreign governments, whether held individually or in an investment portfolio account such as, but not limited to, stocks, bonds, stock market indices, trust units, closed-end mutual funds, commercial papers and medium-term notes;
(b) self-administered registered retirement savings plans, self-administered registered education savings plans and registered retirement income funds composed of at least one asset that would be considered controlled if held outside the plan or fund;
(c) commodities, futures and foreign currencies held or traded for speculative purposes; and
(d) stock options, warrants, rights and similar instruments.
« bien exclu »
“exempt assets” means assets and interests in assets for the private use of public office holders and the members of their family and assets that are not of a commercial character, including the following:
(a) primary and secondary residences, recreational property and farm land and buildings used or intended for use by public office holders or the members of their family;
(b) household goods and personal effects;
(c) works of art, antiques and collectibles;
(d) automobiles and other personal means of transportation;
(e) cash and deposits;
(f) Canada Savings Bonds and other similar investments issued or guaranteed by any level of government in Canada or agencies of those governments;
(g) registered retirement savings plans and registered education savings plans that are not self-administered or self-directed;
(h) investments in open-ended mutual funds;
(i) guaranteed investment certificates and similar financial instruments;
(j) public sector debt financing not guaranteed by a level of government, such as university and hospital debt financing;
(k) annuities and life insurance policies;
(l) pension rights;
(m) money owed by a previous employer, client or partner;
(n) personal loans receivable from the public office holder’s relatives, and personal loans of less than $10,000 receivable from other persons if the public office holder has loaned the moneys receivable;
(o) money owed under a mortgage or hypothec of less than $10,000;
(p) self-administered or self-directed registered retirement savings plans, registered education savings plans and registered retirement income funds composed exclusively of assets that would be considered exempt if held outside the plan or fund; and
(q) investments in limited partnerships that are not traded publicly and whose assets are exempt assets.
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