Revenue Trust Account Regulations (C.R.C., c. 730)

Short Title

1 These Regulations may be cited as the Revenue Trust Account Regulations.

General

2 In these Regulations,

financial institution

financial institution means

• (a) a member of the Canadian Payments Association,

• (b) any local cooperative credit society that is a member of a central cooperative credit society having membership in the Canadian Payments Association, or

• (c) any fiscal agent or financial institution designated by the Minister pursuant to subsection 17(2) of the Financial Administration Act; (institution financière)

Revenue Trust Account

Revenue Trust Account means an account established in a financial institution pursuant to these Regulations for the deposit of money paid to the credit of the Receiver General and not being public money. (compte de recettes en fiducie)

3 Unless otherwise provided, these Regulations, notwithstanding the Repayment of Receipts Regulations and the Receipt and Deposit of Public Money Regulations, apply in any circumstances in which a Revenue Trust Account has been established.

4 Where money has been paid to a public officer in the Northwest Territories or the Yukon Territory or in such other area for which and for a purpose for which the Minister of Finance has authorized the establishment of a Revenue Trust Account, the money may be paid into that account.

Excess Amount

• 5 (1) Where money has been received by a public officer as a deposit to ensure the doing of any act or thing and paid into the Revenue Trust Account, the public officer shall, where the act or thing has been done or where the deposit is otherwise no longer required, repay the money to the person who paid it or to the person’s legal representative.

• (2) Where money received by a public officer as a deposit to ensure the doing of any act or thing and paid into the Revenue Trust Account exceeds the amount prescribed for that purpose or, where no such amount has been prescribed, the amount required for that purpose, the excess amount shall be repaid to the person who paid it or to the person’s legal representative.

Purpose Not Fulfilled

6 Where money has been paid into a Revenue Trust Account for any purpose and the appropriate Minister is of opinion that

• (a) the purpose for which the money has been paid has not been fulfilled, and

• (b) no service has been rendered by or on behalf of Her Majesty,

the amount so paid may be repaid to the person who paid it or to his legal representatives.

7 Where money has been paid into a Revenue Trust Account for any purpose and the appropriate Minister is of opinion that the purpose for which the money has been paid has been fulfilled, the amount so paid less any money in excess of that required for the purpose shall be deposited to the credit of the Receiver General at least once each week in accordance with the Receipt and Deposit of Public Money Regulations.

• 8 (1) Where money has been paid into a Revenue Trust Account for any purpose and the appropriate Minister is of opinion that the purpose for which the money has been paid has not been fulfilled but that a service has been rendered by or on behalf of Her Majesty, the appropriate Minister shall refer the matter to the Treasury Board with a statement of the relevant facts.

• (2) Where a reference is made to the Treasury Board, pursuant to subsection (1), the Treasury Board shall determine the amount, if any, that is to be retained by Her Majesty in respect of any service rendered and the amount so determined shall be deposited to the credit of the Receiver General in accordance with the Receipt and Deposit of Public Money Regulations, and the balance, if any, shall be repaid to the person who paid it or his legal representatives.