Bill S-201 explained in plain English
An Act to amend the Borrowing Authority Act
Federal Parliament bill summary, status, timeline, sponsor, votes, and official sources.
At a glance
Official Parliament of Canada snapshot for 43rd Parliament, 1st Session. MP vote breakdowns appear when the House of Commons publishes a recorded division export for that bill. Senate and House stage details include official debate/sitting links when LEGISinfo publishes them.
Our plain-language take, written for civic education.
Source: By PoliticalData.ca
This bill would amend the Borrowing Authority Act to restrict the government's ability to borrow money without legislative approval and alter reporting requirements related to borrowing.
Bill S-201, titled 'An Act to amend the Borrowing Authority Act,' proposes changes to the rules governing how the Canadian government can borrow money. It aims to limit the circumstances under which the Governor in Council (which refers to the Governor General acting on the advice of the King's Privy Council for Canada) can authorize borrowing without specific approval from Parliament. The bill would change reporting requirements for the Minister on borrowing activities and adjust timelines for tabling these reports in Parliament. It also affects the maximum amount that can be borrowed and how this is calculated.
- Amends the Borrowing Authority Act.
- Limits the circumstances where the Governor in Council can authorize borrowing money without legislative approval.
- Replaces Section 3 of the Borrowing Authority Act.
- Changes the wording for how the Minister may borrow money, removing the explicit reference to authorization under the Financial Administration Act.
- Modifies Section 4 of the Borrowing Authority Act, which sets the maximum amount that can be borrowed.
- Replaces part of subsection 8(1) of the Borrowing Authority Act, which deals with reports to Parliament, by changing the timeline for tabling the first report.
- Replaces subsection 8(2) of the Borrowing Authority Act, which deals with subsequent reports to Parliament, by changing the frequency of these reports.
- The Governor in Council (representing the Crown and government), as their authority to authorize borrowing is being limited.
- The Minister (presumably the Minister of Finance), who is responsible for borrowing money and reporting on it.
- The Parliament of Canada, as it will receive reports on government borrowing.
- Canadian taxpayers, as the bill relates to government debt.
- The Minister must table a report in each House of Parliament within one year of this section coming into force (changed from three years).
- The Minister must table subsequent reports on or before May 31 following the end of each fiscal year (changed from following the end of the third fiscal year after a previous report).
- The bill states that certain sections come into force on a specified day, but the exact date is not provided in the text. Section 8(1) sets a one-year period after this section comes into force for the first report to be tabled. Section 8(2) sets the end of each fiscal year for subsequent reports.
- The bill itself does not specify a commencement date, indicating it would come into force on a day to be fixed by order of the Governor in Council.
- The maximum amount that can be borrowed is set at $1,168,000,000,000.
- The bill does not specify the exact date on which the amendments will come into force.
- The bill does not detail the specific circumstances that would limit the Governor in Council's authority to borrow without legislative approval, beyond stating that the circumstances are being limited.
- The bill does not provide the content of the reports to be tabled in Parliament, only that they indicate certain matters.
The bill makes several changes to this Act, including how the Minister can borrow money, the maximum borrowing limit, and the reporting requirements for borrowing activities.
Source: SUMMARY
This section will be replaced to change the conditions under which the Minister can borrow money. Specifically, it removes the explicit requirement for authorization under the Financial Administration Act for borrowing.
Source: Section 3
The wording of this section, which establishes the maximum amount of money that can be borrowed, is changed.
Source: Section 2
The part of this subsection concerning the tabling of reports to Parliament is replaced to change the timeframe from three years to one year after the section comes into force.
Source: Section 3(1)
This subsection, which details the timing and content of subsequent reports to Parliament on borrowing, is replaced with new wording that changes the reporting frequency.
Source: Section 3(2)
While not directly amended, the Financial Administration Act is referenced in relation to the definition of 'securities' and was previously referenced in Section 3 of the Borrowing Authority Act, which is being replaced.
Source: Section 3
Generated using AI from official bill text. Not legal advice. It is written by PoliticalData.ca for civic education, automatically checked and spot-reviewed before publishing.
Official textParliamentary Process
We don't have a plain-language summary for First reading yet. The official source linked below is the full record.
On December 10, 2019, the Senate conducted procedural business, including the first reading of Bill S-201, and held discussions during senators' statements and question period.
This artifact details a Senate sitting on December 10, 2019. During this sitting, Bill S-201, an Act to amend the Borrowing Authority Act, was introduced and received its first reading. The sitting also included various procedural activities such as tabling reports from parliamentary officers and associations, motions for committee appointments and studies, and notices of inquiries. The proceedings also featured senators' statements on diverse topics including congratulations, condolences, and anniversaries, as well as a question period where senators asked the Government Representative in the Senate about various government actions and policies.
We don't have a plain-language summary for Second reading yet. The official source linked below is the full record.
We don't have a plain-language summary for Third reading yet. The official source linked below is the full record.
We don't have a plain-language summary for First reading yet. The official source linked below is the full record.
We don't have a plain-language summary for Second reading yet. The official source linked below is the full record.
We don't have a plain-language summary for Consideration in committee yet. The official source linked below is the full record.
We don't have a plain-language summary for Report stage yet. The official source linked below is the full record.
We don't have a plain-language summary for Third reading yet. The official source linked below is the full record.
Debate and sitting links point to official parliamentary sources when LEGISinfo publishes them. Any plain-language discussion summaries should be generated from those official texts and reviewed before public display.
Vote Summary
This bill is still active. We only show vote counts after the legislature publishes a recorded division.
No published representative vote breakdown
This bill is still moving through the process. When a recorded division is published, representative positions can be listed here.
Official sources
Status, sponsor, votes, and timeline on this page are drawn from these official legislative sources and public records. Each summary above is attributed to its own source.
How this data is sourced