Build Canada Homes Act (S.C. 2026, c. 18)

Marginal note:Directive

• 36 (1) The Governor in Council may — on the recommendation of the Minister in relation to the Corporation or any wholly-owned subsidiary of the Corporation or of the appropriate Minister in relation to Canada Lands Company Limited or any wholly-owned subsidiary of Canada Lands Company Limited — on any terms and conditions that the Governor in Council considers appropriate, issue a directive to the Corporation or to Canada Lands Company Limited or to any wholly-owned subsidiary of the Corporation or of Canada Lands Company Limited to take any measure referred to in any of sections 37, 39 or 40.

• Marginal note:Compliance with directive

  (2) The directors of the Corporation or of Canada Lands Company Limited or of any wholly-owned subsidiary of the Corporation or of Canada Lands Company Limited must comply with a directive issued under subsection (1). Compliance with the issued directive is deemed to be in the best interests of the Corporation, Canada Lands Company Limited or the wholly-owned subsidiary, as the case may be.

• Marginal note:Notification of implementation

  (3) As soon as feasible after implementing a directive and completing any actions that are required to be taken in connection with that implementation, the Corporation, Canada Lands Company Limited or the wholly-owned subsidiary must notify the Minister or the appropriate Minister, as the case may be, that it has done so.

• Marginal note:Non-application of Statutory Instruments Act

  (4) The Statutory Instruments Act does not apply to a directive issued under subsection (1).

• Marginal note:No liability

  (5) If a directive is issued under subsection (1), no action or other proceeding, including any action or proceeding in restitution or for damages of any kind, that is based on or is in relation to any agreement in relation to the Corporation or Canada Lands Company Limited or any wholly-owned subsidiary of the Corporation or of Canada Lands Company Limited that existed on or before the directive is issued lies or may be instituted by anyone against His Majesty or any minister or any employee or agent of His Majesty, or any person engaged to provide advice or services to His Majesty in relation to such an agreement, for anything done or omitted to be done or for anything purported to have been done or omitted to be done under the directive, in the exercise of their powers or the performance of their duties or functions.

Marginal note:Authority — Corporation

37 If directed by the Governor in Council under subsection 36(1), the Corporation may take any of the following measures:

• (a) procure the incorporation of a corporation, securities of which, on incorporation, would be held by, on behalf of or in trust for His Majesty;

• (b) procure the incorporation of a corporation, securities of which, on incorporation, would be held by, on behalf of or in trust for the Corporation;

• (c) acquire securities of a corporation or any other entity that, on acquisition, would be held by, on behalf of or in trust for His Majesty;

• (d) acquire securities of a corporation or any other entity that, on acquisition, would be held by, on behalf of or in trust for the Corporation;

• (e) acquire all or substantially all of the assets of a corporation or of any other entity;

• (f) sell or otherwise dispose of some or all of the securities of a corporation or any other entity that are held by, on behalf of or in trust for the Corporation;

• (g) procure an addition to, or other material change in, the objects or purposes for which any of its wholly-owned subsidiaries is incorporated or formed or the restrictions on the businesses or activities that the subsidiary may carry on, as set out in its articles;

• (h) procure the amalgamation or dissolution of any of the Corporation’s wholly-owned subsidiaries; and

• (i) do anything that is necessary for, or incidental to, a measure taken under any other paragraph of this section.

Marginal note:Amendments to articles

38 The appropriate Minister may apply for articles that would add to or otherwise make a material change in the objects or purposes for which Canada Lands Company Limited is incorporated, or the restrictions on the businesses or activities that it may carry on, as set out in its articles.

Marginal note:Authority — Canada Lands Company Limited

39 If directed by the Governor in Council under subsection 36(1), Canada Lands Company Limited may take any of the following measures:

• (a) procure an addition to, or other material change in, the objects or purposes for which it or any of its wholly-owned subsidiaries is incorporated, or the restrictions on the businesses or activities that it or any of its wholly-owned subsidiaries may carry on, as set out in their articles;

• (b) sell or otherwise dispose of some or all of the securities of a corporation or any other entity that are held by, on behalf of or in trust for it;

• (c) sell or otherwise dispose of some or all of the securities of a corporation or any other entity that are held by, on behalf of or in trust for His Majesty;

• (d) procure the amalgamation or dissolution of any of its wholly-owned subsidiaries; and

• (e) do anything that is necessary for, or incidental to, a measure taken under any other paragraph of this section.

Marginal note:Authority — subsidiaries

40 If it is issued a directive by the Governor in Council under subsection 36(1), a wholly-owned subsidiary of the Corporation or Canada Lands Company Limited may take any of the following measures:

• (a) procure an addition to, or other material change in, the objects or purposes for which the wholly-owned subsidiary is incorporated or formed, or the restrictions on the businesses or activities that it may carry on, as set out in its articles;

• (b) procure the incorporation of a corporation, securities of which, on incorporation, would be held by, on behalf of or in trust for His Majesty;

• (c) procure the incorporation of a corporation, securities of which, on incorporation, would be held by, on behalf of or in trust for it;

• (d) sell or otherwise dispose of some or all of its assets;

• (e) sell or otherwise dispose of some or all of its liabilities;

• (f) issue securities and sell or otherwise dispose of some or all of those securities;

• (g) reorganize its capital structure;

• (h) acquire assets of a corporation or of any other entity;

• (i) acquire securities of a corporation or any other entity that, on acquisition, would be held by, on behalf of or in trust for it;

• (j) sell or otherwise dispose of some or all of the securities of a corporation or any other entity that are held by, on behalf of or in trust for it;

• (k) procure its amalgamation or dissolution or the amalgamation or dissolution of any of its wholly-owned subsidiaries; and

• (l) do anything that is necessary for, or incidental to, a measure taken under any other paragraph of this section.

Marginal note:Consolidated Revenue Fund — Canada Lands Company Limited

• 41 (1) The appropriate Minister may make payments out of the Consolidated Revenue Fund to make a contribution of capital to Canada Lands Company Limited or to acquire shares in Canada Lands Company Limited on behalf of His Majesty.

• Marginal note:Consolidated Revenue Fund — entity

  (2) The Minister of Finance may make payments out of the Consolidated Revenue Fund to fund the operations and activities of any entity designated by the Governor in Council if the Governor in Council is of the opinion that the entity is performing any activity related to carrying out the purpose of the Corporation.

• Marginal note:Limit

  (3) The aggregate amount of payments made under subsections (1) and (2) may not exceed $1.515 billion, or any other amount that is specified in an appropriation Act or any other Act of Parliament.

• Marginal note:Contracts

  (4) For the purposes of subsection (1), Canada Lands Company Limited may enter into contracts with His Majesty as though it were not an agent of His Majesty.

• Marginal note:Repeal

  (5) This section is repealed on a day to be fixed by order of the Governor in Council.

Marginal note:Non-application of provisions

42 Sections 89, 90 and 91 and subsection 99(2) of the Financial Administration Act do not apply to any measure referred to in sections 37 to 40.

Marginal note:Part X of Financial Administration Act

43 The Governor in Council may, by order, declare that any of the provisions of Part X of the Financial Administration Act do not apply to measures taken by the Corporation or any of its wholly-owned subsidiaries or Canada Lands Company Limited or any of its wholly-owned subsidiaries under a directive made under subsection 36(1).

Transitional Provisions

Marginal note:Definition of special operating agency

44 For the purposes of this section and sections 45 to 48, special operating agency means the special operating agency known as Build Canada Homes created by a decision of the Treasury Board.

Marginal note:Transfer

45 The Governor in Council may, by order, require that

• (a) all rights and property of His Majesty under the administration, management and control of the Minister of Infrastructure and Communities and used for the operations and activities of the special operating agency are transferred to the Corporation;

• (b) all obligations and liabilities of His Majesty incurred in respect of the special operating agency are transferred to the Corporation; and

• (c) every reference to the special operating agency in a deed, contract, instrument or act or other document is, unless the context requires otherwise, to be read as a reference to the Corporation.

Marginal note:Chairperson

• 46 (1) Section 15 does not apply to the first appointment under section 8.

• Marginal note:Initial powers

  (2) Until the first day on which the Board consists of a Chairperson and at least eight other directors, the Chairperson has all the powers of the Board.

Marginal note:Chief Executive Officer

47 The person who holds the office of Chief Executive Officer of the special operating agency immediately before the day on which this section comes into force continues in the office as the Chief Executive Officer of the Corporation for the remainder of the term for which the person was appointed Chief Executive Officer of the special operating agency.

Marginal note:Regulations

48 The Governor in Council may make regulations respecting the transfer of the special operating agency to the Corporation, including regulations respecting the manner in which rights, property, obligations and liabilities are to be transferred under paragraphs 45(a) and (b) and any restrictions on those transfers.

R.S., c. F-11Consequential Amendment to the Financial Administration Act

49 Part I of Schedule III to the Financial Administration Act is amended by adding the following in alphabetical order:

Coordinating Amendments

Marginal note:Bill C-15

• 50 (1) Subsections (2) to (7) apply if Bill C-15, introduced in the 1st session of the 45th Parliament and entitled Budget 2025 Implementation Act, No. 1 (in this section referred to as the “other Act”), receives royal assent.

• (2) If section 200 of the other Act comes into force before section 29 of this Act, then on the day on which that section 29 comes into force, that section 200 is repealed and section 29 of this Act is replaced by the following:

  Marginal note:Consolidated Revenue Fund — Corporation

  29 The Minister of Finance may, to fund the operations and activities of the Corporation, make payments out of the Consolidated Revenue Fund in an aggregate amount not exceeding $11.5 billion — minus any amount paid out of the Consolidated Revenue Fund under section 200 of the Budget 2025 Implementation Act, No. 1 — or any other amount that is specified in an appropriation Act or any other Act of Parliament.

• (3) If section 29 of this Act comes into force before section 200 of the other Act, then that section 200 is repealed.

• (4) If section 200 of the other Act comes into force on the same day as section 29 of this Act, then that section 200 is deemed never to have come into force and is repealed.

• (5) If section 201 of the other Act comes into force before section 41 of this Act, then on the day on which that section 41 comes into force, that section 201 is repealed and section 41 of this Act is replaced by the following:

  Marginal note:Consolidated Revenue Fund — entity

  • 41 (1) The Minister of Finance may make payments out of the Consolidated Revenue Fund in an aggregate amount not exceeding $1.515 billion — minus any amount paid out of the Consolidated Revenue Fund under section 201 of the Budget 2025 Implementation Act, No. 1 — or any other amount that is specified in an appropriation Act or any other Act of Parliament, to fund the operations and activities of any entity designated by the Governor in Council if the Governor in Council is of the opinion that the entity is performing any activity related to carrying out the purpose of the Corporation.

  • Marginal note:Repeal

    (2) This section is repealed on a day to be fixed by order of the Governor in Council.

• (6) If section 41 of this Act comes into force before section 201 of the other Act, then that section 201 is repealed.

• (7) If section 201 of the other Act comes into force on the same day as section 41 of this Act, then that section 201 is deemed never to have come into force and is repealed.

Coming into Force

Marginal note:Order in council

51 The provisions of this Act, except for section 50, come into force on a day or days to be fixed by order of the Governor in Council.