Office of the Superintendent of Financial Institutions Act

Marginal note:Expenditures out of the C.R.F.

• 17 (1) The Minister may make expenditures out of the Consolidated Revenue Fund to defray the expenses arising out of the operations of the Office.

• Marginal note:Authority to spend assessments and revenues

  (2) The Minister may spend, for the purpose mentioned in subsection (1), any assessment and interim assessment received under section 23 or 23.1 and any other revenue arising out of the operations of the Office.

• Marginal note:Excess expenditures

  (3) The aggregate of expenditures made under subsection (1) shall not at any time exceed by more than $40,000,000, or such other amount as may be specified in an appropriation Act, the total of the assessments and revenues referred to in subsection (2).

• Marginal note:Treasury Board approval

  (4) No expenditure may be made under subsection (1) without the approval of the Treasury Board if the aggregate of the expenditures actually made under that subsection at any time exceeds the aggregate of

  • (a) all assessments and revenues referred to in subsection (2), and

  • (b) moneys appropriated by Parliament pursuant to section 16.