Finance

Bank of Canada

The information presented on the following pages is for reference purposes only and should not be considered or relied on as an authoritative or exhaustive source of all Governor in Council appointments or positions.


Crown Corporation (Exempt from Part X of the FAA)

Minister Responsible

Minister of Finance

Mandate

As the nation's central bank, the Bank of Canada has four main areas of responsibility, namely, monetary policy, currency, financial systems, and funds management. The goal of monetary policy is to contribute to solid economic performance and rising living standards for Canadians by keeping inflation low, stable, and predictable. Concerning currency, the Bank issues Canada's bank notes and is responsible for their design and security, distribution, and replacement. With regard to financial systems, the Bank actively promotes safe, sound, and efficient financial systems, both within Canada and internationally. The Bank also provides high-quality, effective, and efficient funds-management services for the federal government, the Bank, and other clients.

Head Office

Ottawa, Ontario

Appointment Provisions

Bank of Canada Act
http://laws-lois.justice.gc.ca/eng/acts/B-2/page-2.html#h-4

The Bank of Canada is managed by a Board of Directors and by the Governor of the Bank, who is Chair of the Board and the Bank's Chief Executive Officer, and the Deputy Governor, who is the alternate to the Governor.

The Board consists of twelve part-time directors and the Governor, the Deputy Governor and the Deputy Minister of Finance (the latter without a vote).

The Governor and Deputy Governor are appointed by the Board of Directors with GIC approval to hold office for a term of seven years during good behaviour and are eligible for reappointment.

The Minister, with the approval of the Governor in Council, shall appoint directors to hold office during good behaviour, subject to removal by the Governor in Council at any time for cause, to replace the directors whose terms of office have expired. The term of a director begins on the day he or she is appointed and ends immediately before March 1 of the year that is three years after the year in which the term of office of the director’s predecessor expired. The directors shall be selected from diversified occupations.

If a person ceases to be a director during the term for which he or she was appointed, the Minister shall, with the approval of the GIC, appoint a qualified person to hold office for the remainder of the term.

If, on the expiry of a director’s term of office, no new director is appointed, the director whose term of office expired may continue in office until a director is appointed.

Where a director, in the opinion of the Board, becomes permanently incapacitated, that director may be removed from office by resolution of the Board approved by the GIC.

If the Governor is absent or unable to act, or the office is vacant, the Deputy Governor has all the powers and functions of the Governor.

The Board may authorize one of the directors of the Board, or one of the persons appointed by the Board, to act as the Governor in the event that the Governor and Deputy Governor are absent or unable to act, or the offices are vacant, but no such person has authority to act as Governor for a period exceeding one month without the approval of the GIC.

Eligibility/Conflicts

No person is eligible to be appointed or to continue as Governor or Deputy Governor who:
  • is not a Canadian citizen;
  • is a member of the Senate or House of Commons, or a member of a provincial legislature;
  • is employed in any capacity in federal public administration or the public service of a province, or holds any office or position for which any salary or other remuneration is payable out of public moneys;
  • except as authorized by or under any Act of Parliament, is a director, partner, officer, employee or shareholder of:
    1. a member of the Canadian Payments Association,
    2. a clearing house or participant, as defined in section 2 of the Payment Clearing and Settlement Act,
    3. an investment dealer who acts as a primary distributor of new Government of Canada securities, or
    4. an institution that controls or is controlled by an institution referred to in any of subparagraphs mentioned above.
Neither the Governor nor the Deputy Governor shall:
  • directly or indirectly hold any interest or right in membership shares of a federal credit union, within the meaning of section 2 of the Bank Act, in excess of the minimum number of membership shares of the federal credit union that is required for membership; or
  • exercise any right he or she has as a member of such a federal credit union, except any right that he or she has as a customer of the federal credit union.
No person is eligible to be appointed or to continue as director who:
  • is not a Canadian citizen ordinarily resident in Canada;
  • is employed, on a full-time basis, in any capacity in federal public administration or the public service of a province or holds any office or position, other than as a part-time member of any board or advisory body of an agency or department of the government of Canada or of a province, for which any salary or other remuneration is payable out of public moneys, except that a director may perform temporary services for the government of Canada or of a province for which that director may be reimbursed actual travel and living expenses.
No person is eligible to be appointed or to continue as a director if the person is a director, a partner, an officer or an employee of any of the following institutions:
  • a direct clearer as defined in the by-laws of the Canadian Payments Association;
  • a clearing house of a clearing and settlement system designated under subsection 4(1) of the Payment Clearing and Settlement Act;
  • a participant in the Large Value Transfer System, or its successor, operated by the Canadian Payment Association;
  • an investment dealer who acts as a distributor of new Government of Canada securities; or
  • an institution that controls, or is controlled by, an institution referred to in any of the paragraphs mentioned above.

Quorum

The following directors shall constitute a quorum at meetings of the Board:
  • six directors appointed pursuant to the Bank of Canada Act, and
  • one of the Governor or the Deputy Governor. If the Governor and the Deputy Governor are not present at, or have withdrawn from, any meetings of the Board, the directors present shall choose one of their members to be acting Chairperson.

Auditor

The GiC shall, on the recommendation of the Minister, appoint two firms of accountants eligible to be appointed as auditors of a chartered bank to audit the affairs of the Bank. Every firm of accountants appointed shall be appointed to perform annual audits for the five fiscal years following the year of its appointment. Where any vacancy occurs in the office of auditor of the Bank, notice thereof shall forthwith be given by the Bank to the Minister who shall appoint some other firm of accountants eligible to be appointed to audit the affairs of the bank for the balance of the term of the firm of accountants so replaced. No firm of accountants of which a director is a member is eligible for appointment as an auditor and no auditor of the Bank is eligible for appointment for a second successive term.

Remuneration

Director

  • Fixed by By-Law with the approval of the GiC: Position;
    per diem ($565 - $665)
  • Position; annual ($7,300 - $8,600)
  • Each director appointed by the Board to serve on the Executive Committee is paid an additional annual retainer within the range ($2,600 - $3,500).

    Each director appointed by the Board to serve as Chairperson of a Committee of the Board is paid an additional annual retainer within the range ($1,000 - $2,000).

    Each director is paid an additional per diem within the range ($565 - $665) for each day such director is, at the request of the Board, engaged in special work for the Bank outside the work or services ordinarily required of a director of the Bank.

Ex Officio Member (Deputy Minister Of Finance)

  • Not Paid (public servant)

Appointments

Appt/Expiry
Date
Position
Level
Governor
Poloz, Stephen S.
Ottawa, Ontario
Full-Time Appointment
During Good Behaviour
2013-06-03
2020-06-02
Deputy Governor
Wilkins, Carolyn
Ottawa, Ontario
Full-Time Appointment
During Good Behaviour
2014-05-02
2021-05-01
Directors
Betts, Norman
Fredericton, New Brunswick
During Good Behaviour
2014-07-02
2017-02-28
Borger, Alan
Winnipeg, Manitoba
During Good Behaviour
2014-07-02
2017-02-28
Clark, Phyllis
Edmonton, Alberta
During Good Behaviour
2012-11-02
2018-02-28
Dhillon, Peter
Vancouver, British Columbia
During Good Behaviour
2017-12-14
2019-02-28
Dodds, Colin
Halifax, Nova Scotia
During Good Behaviour
2013-10-01
2018-02-28
Jérôme-Forget, Monique
Montréal, Quebec
During Good Behaviour
2013-10-01
2019-02-28
Kennedy, Claire
Toronto, Ontario
During Good Behaviour
2012-12-14
2018-02-28
Key, Derek
Summerside, Prince Edward Island
During Good Behaviour
2012-11-02
2018-02-28
Scott, Wesley (Wes)
Toronto, Ontario
During Good Behaviour
2014-10-30
2017-02-28
Simon, Jean
Saint-David-de-Falardeau, Quebec
During Good Behaviour
2015-05-28
2017-02-28
Stewart, Greg
Regina, Saskatchewan
During Good Behaviour
2014-10-09
2017-02-28
Sullivan, Martin
St. John's, Newfoundland and Labrador
During Good Behaviour
2014-12-19
2017-02-28
Ex Officio Member (Deputy Minister of Finance)
Rochon, Paul
Ottawa, Ontario
2014-04-21

Canada Deposit Insurance Corporation

The information presented on the following pages is for reference purposes only and should not be considered or relied on as an authoritative or exhaustive source of all Governor in Council appointments or positions.


Crown Corporation (FAA, Sched. III, Part I)

Minister Responsible

Minister of Finance

Mandate

The Canada Deposit Insurance Corporation’s (CDIC) statutory objects are to provide insurance against the loss of part or all of deposits, and to promote and otherwise contribute to the stability of the financial system in Canada. These objects are to be pursued for the benefit of persons having deposits with member institutions and in such manner as will minimize the exposure of the Corporation to loss.

Head Office

Ottawa, Ontario

Appointment Provisions

Canada Deposit Insurance Corporation Act
http://laws-lois.justice.gc.ca/eng/acts/C-3/index.html

The President and CEO is appointed by the GiC to hold office during pleasure for such term as the Governor in Council considers appropriate. The President and CEO is eligible for reappointment.

The Board is comprised of:
  • the Chairperson, a person of proven financial ability, appointed by the Governor in Council to hold office during good behaviour for such term as the Governor in Council deems appropriate. The Chairperson may be reappointed on the expiration of the term of office (and may be removed at any time by the Governor in Council for cause). The Chairperson must be a Canadian citizen ordinarily resident in Canada;
  • the persons who for the time being hold the offices of the Governor of the Bank of Canada, the Deputy Minister of Finance, the Superintendent of Financial Institutions and the Commissioner of the Financial Consumer Agency of Canada;
  • a Deputy Superintendent of Financial Institutions, or an officer of the Office of the Superintendent of Financial Institutions, appointed by the Minister; and
  • not more than five other members appointed by the Minister with the approval of the Governor in Council.
A person is not eligible to be appointed as a director or having been appointed to continue as a director, if the person is:
  • employed in any capacity in the public service of Canada or holds any office or position for which any salary or other remuneration is payable out of public moneys;
  • a member of the Senate or House of Commons of Canada or a member of a provincial legislature; or
  • a director, officer or employee of a federal institution or provincial institution.
A director may from time to time, with the approval of the Minister, designate in writing an alternate to attend in his/her absence at any meeting of the Board of Directors, and the alternate shall be deemed to be a member of the Board while so attending a meeting of the Board.

Where the office of Chairperson is vacant, the Minister may appoint, for a period not exceeding ninety days, an acting Chairperson who shall, while so acting, be a member of the Board and have all the powers of the Chairperson.

The Chairperson shall preside at all meetings of the Board but where at any meeting the Chairperson is absent, one of the directors present thereat who is chosen so to act by the directors present shall preside and have all the powers of the Chairperson.

No person is eligible to be appointed or to continue as Chairperson who:
  • is not a Canadian citizen ordinarily resident in Canada;
  • is a member of the Senate or House of Commons or a member of a provincial legislature; or
  • is a director, officer or employee of a federal institution, provincial institution or a local cooperative credit society.

As per the Canada Deposit Insurance Corporation Act, Federal Institutions are:

  • a bank to which the Bank Act applies;
  • a company to which Trust and Loan Companies Act applies.
A Provincial Institution is:
For the purposes of the Canada Deposit Insurance Corporation Act, an incorporated company that carries on, under an Act of the legislature of a province, or a constating instrument under provincial jurisdiction, a business substantially similar to the business of a company to which the Trust and Loan Companies Act applies and that is authorized by or under an Act of the legislature of a province to accept deposits from the public.

If a director is not appointed to take office on the expiration of the term of an incumbent director, other than an officer-director, the incumbent director continues in office until a successor is appointed.

Eligibility/Conflicts

A person is not eligible to be appointed or, having been appointed, to continue as a member of the Board, if the person is: employed in any capacity in the federal public administration or holds any office or position for which any salary or other remuneration is payable out of public moneys; a member of the Senate or House of Commons of Canada or a member of a provincial legislature; or a director, officer or employee of a federal institution or provincial institution. No person is eligible to be appointed or to continue as Chairperson who: is not a Canadian citizen ordinarily resident in Canada; is a member of the Senate or House of Commons or a member of a provincial legislature; or is a director, officer or employee of a federal institution or provincial institution.

Consultation

The Financial Administration Act requires that before an officer-director of a parent Crown corporation is appointed, the Minister shall consult the Board of Directors of the Corporation with respect to the appointment.

Quorum

Majority of directors. (ss. 2.06 of the Canada Deposit Insurance Corporation Corporate By-law)

Auditor

By virtue of section 43 of the Canada Deposit Insurance Corporation Act, the Auditor General is the auditor of the Corporation.

Remuneration

Chairperson

  • Fixed by GiC: Incumbent;
    per diem ($850 - $1,000)
  • Incumbent; annual ($40,000 - $50,000)
  • Expenses fixed by by-laws of the Corporation.

Director

  • Fixed by GiC: Position;
    per diem ($360 - $420)
  • Position; annual ($4,600 - $5,400)
  • Ex officio directors serve without remuneration.

Appointments

Appt/Expiry
Date
Position
Level
President and Chief Executive Officer
Bourque, Michèle
Ottawa, Ontario
Full-Time Appointment
During Pleasure
2010-05-09
2020-05-08
Chairperson
Sanderson, Robert
West Vancouver, British Columbia
During Good Behaviour
2017-12-14
2019-12-13
Director (ex officio) Governor, Bank of Canada
Poloz, Stephen S.
Ottawa, Ontario
2013-06-03
Director (ex officio) Superintendent of Financial Institutions
Rudin, Jeremy
Ottawa, Ontario
2014-06-29
Director (ex officio) Deputy Minister of Finance
Rochon, Paul
Ottawa, Ontario
2014-04-21
Director (ex officio) Commissioner of the Financial Consumer Agency
Tedesco, Lucie
Greely, Ontario
During Pleasure (Interpretation Act)
2013-09-03
Directors
Burger, George
Toronto, Ontario
During Pleasure (Interpretation Act)
2010-11-25
2017-06-12
Hicks, Susan
Moncton, New Brunswick
During Pleasure (Interpretation Act)
2015-02-26
2018-02-25
Pronovost, Éric
Trois-Rivières, Quebec
During Pleasure (Interpretation Act)
2008-09-04
2017-02-04
Tratch, Shelley M.
Vancouver, British Columbia
During Pleasure (Interpretation Act)
2006-12-18
2016-02-06
Tu Weissenberger, Angela
Calgary, Alberta
During Pleasure (Interpretation Act)
2012-06-08
2018-06-07

Canada Development Investment Corporation

The information presented on the following pages is for reference purposes only and should not be considered or relied on as an authoritative or exhaustive source of all Governor in Council appointments or positions.


Crown Corporation (FAA, Sched. III, Part II)

Minister Responsible

Minister of Finance

Mandate

The Canada Development Investment Corporation (CDEV) was established in 1982 under the Canada Business Corporations Act, to manage investments assigned to it and to privatize its holdings when appropriate. The Corporation reports to Parliament through the Minister of Finance.

In January 1995, as a result of a government assessment of the Corporation's future role, the Corporation began to work to wind down its operations by divesting its remaining assets in an orderly fashion to ready the Corporation for eventual dissolution.

However, in November 2007, CDEV was informed by the Minister of Finance that, "going forward, the operations of CDEV should reflect a future focused on the ongoing management of its current holdings in a commercial manner, providing assistance to the government in new directions suited to CDEV's capabilities, while maintaining the capacity to divest of CDEV's existing holdings, and any other government interests assigned to it for divestiture, upon the direction of the Minister of Finance."

CDEV is a holding company that presently holds the following wholly owned subsidiaries for which it has responsibility: Canada Hibernia Holding Corporation, which owns an 8.5% interest in the Hibernia oilfield; Canada GEN Investment Corporation, which owns the business interests of the Crown in General Motors; and Canada Eldor Inc., which has no operations, but has responsibility for servicing liabilities, chiefly arising from an agreement of purchase and sale with Cameco Inc. entered into in 1988.

In August 2009, the Minister of Finance requested CDEV to participate in the Government's on-going review of corporate asset holdings.

Head Office

Toronto, Ontario

Appointment Provisions

Financial Administration Act

The Board of Directors consists of:

  • a President (if any) appointed by GIC to hold office during pleasure for such term as the GIC considers appropriate; reappointment is possible;
  • a Chairperson appointed by GIC to hold office during pleasure for such term as the GIC considers appropriate; reappointment is possible;
  • not more than six directors appointed by the Minister with GIC approval, to hold office during pleasure for a term not to exceed four years as will ensure, as far as possible, the expiration in any one year of the terms of office of not more than one-half of the directors.

Where the office of a director becomes vacant during the term of the director appointed thereto, the Minister may, with the approval of the GIC, appoint a director for the remainder of the term. All directors are eligible for reappointment at expiry of term.

The majority of directors are not to be officers or employees of the Corporation or any of its affiliates.

If a director is not appointed to take office on the expiration of the term of an incumbent director, other than an officer-director, the incumbent director continues in office until a successor is appointed.

Consultation

The Financial Administration Act requires that before an officer-director of a parent Crown corporation is appointed, the Minister shall consult the Board of Directors of the Corporation with respect to the appointment.

Auditor

The auditor of a Crown Corporation shall be appointed annually by the Governor in Council, after the appropriate Minister has consulted the Board of Directors of the corporation, and may be removed at any time by the Governor in Council, after the appropriate Minister has consulted the Board.

The Auditor General of Canada shall be appointed by the Governor in Council as the auditor, or a joint auditor, of each Crown Corporation, unless the Auditor General waives the requirement of being so appointed.

An auditor of a Crown Corporation is eligible for reappointment on the expiration of the auditor’s appointment.

If an auditor of a Crown Corporation is not appointed to take office on the expiration of the appointment of an incumbent auditor, the incumbent auditor continues in office until a successor is appointed.

A person is disqualified from being appointed or re-appointed or continuing as an auditor of the corporation if that person is not independent of the corporation, any of its affiliates, or the directors or officers of the corporation or any of its affiliates. Expenses reimbursed in accordance with policies and procedures of the Corporation.

Remuneration

Chairman

  • Fixed by GiC: Position;
    per diem ($450 - $600)
  • Position; annual ($12,000 - $15,000)

Director

  • Fixed by GiC: Position;
    per diem ($450 - $600)
  • Position; annual ($6,600 - $8,000)
  • Those Directors who assume additional responsibilities (i.e. Chairman of a committee of the Board) may receive extra remuneration which is fixed by GiC.

    Directors who are public servants serve without remuneration.

Appointments

Appt/Expiry
Date
Position
Level
President
1 Vacant Position
Chairperson
Mackasey, Michael
Mississauga, Ontario
During Pleasure
2015-07-01
2019-06-30
Directors
Halwas, Darlene Joy
Calgary, Alberta
During Pleasure
2017-12-14
2020-12-13
Reynolds, Jennifer
Toronto, Ontario
During Pleasure
2015-07-01
2019-06-30
Ritchie, Mary
Edmonton, Alberta
During Pleasure
2009-11-05
2019-06-30
Rosch, Sandra
Toronto, Ontario
During Pleasure
2015-07-01
2019-06-30
Swaffield, Stephen
Vancouver, British Columbia
During Pleasure
2017-12-14
2020-12-13
1 Vacant Position
Total vacancies: 2

Canada Pension Plan Investment Board

The information presented on the following pages is for reference purposes only and should not be considered or relied on as an authoritative or exhaustive source of all Governor in Council appointments or positions.


Crown Corporation (Exempt from Part X of the FAA)

Minister Responsible

Minister of Finance

Mandate

The CPP Investment Board was incorporated as a federal Crown corporation by an Act of Parliament in December 1997 and made its first investment in March 1999. The Board’s purpose is to invest the assets of the Canada Pension Plan in a way that maximizes returns without undue risk of loss.

Head Office

Toronto, Ontario

Appointment Provisions

Canada Pension Plan Investment Board Act
http://laws-lois.justice.gc.ca/eng/acts/C-8.3/index.html

The Board shall be managed by a board of directors of 12 directors, including the Chairperson. The Minister shall have regard to the desirability of having directors who are representative of the various regions of Canada and having on the Board of Directors a sufficient number of directors with proven financial ability or relevant work experience such that the Board will be able to effectively achieve its objects. The Minister shall endeavour to ensure that no more than three of the 12 directors reside outside of Canada.

Each director shall be appointed by the Governor in Council, on the recommendation of the Minister, to hold office during good behaviour for such term, not exceeding three years, as will ensure, as far as possible, the expiration in any one year of the terms of office of not more than one half of the directors. The Governor in Council may remove a director for cause. A director is eligible for reappointment for one or more additional terms of office. A director continues in office until a successor is appointed. Where a person ceases to be a director during the term for which the person was appointed, the Minister shall appoint a qualified person to hold office as a director for the remainder of the term.

The Governor in Council shall, on the recommendation of the Minister made after the Minister has consulted with the Board of Directors and the appropriate provincial Ministers of the participating provinces, designate one of the directors as Chairperson to hold office during good behaviour for such term as the Governor in Council deems appropriate. The Governor in Council may remove the Chairperson for cause.

Where the Chairperson is absent at any meeting of the Board, one of the directors present who is chosen to so act by the directors present shall preside and have all the power, duties and functions of the Chairperson.

The Minister may establish a committee to advise the Minister on the appointment of directors. The committee shall consist of a representative designated by the Minister and a representative of each participating province designated by the appropriate provincial Minister for that province.

Eligibility/Conflicts

The following persons are disqualified from being directors: a person who is less than 18 years of age; a person who is of unsound mind and has been so found by a court in Canada or elsewhere; a person who has the status of a bankrupt; a person who is not a natural person; a person who is an agent or employee of Her Majesty in right of Canada or in right of a province; a person who is a member of the Senate or House of Commons of Canada or a member of a provincial legislature and a person who is an agent or employee of the government of a foreign country or any political subdivision of a foreign country.

Consultation

The Canada Pension Plan Investment Board Act specifies that the Minister shall consult with the appropriate provincial Ministers of the participating provinces before making any recommendation to the Governor in Council with respect to the appointment of directors and before making an appointment.

The Governor in Council shall, on the recommendation of the Minister made after the Minister has consulted with the board of directors and the appropriate provincial Ministers of the participating provinces, designate one of the directors as Chairperson.

Remuneration

Chairperson

  • Fixed by By-Law

Director

  • Fixed by By-Law

Appointments

Appt/Expiry
Date
Position
Level
Chairperson and Director
Munroe-Blum, Heather
Montréal, Quebec
During Good Behaviour
2012-03-01
2017-10-26
Directors
Bourne, Ian
Calgary, Alberta
During Good Behaviour
2007-10-12
2016-10-11
Brooks, Robert L.
Toronto, Ontario
During Good Behaviour
2009-01-22
2017-10-26
Everett, Ashleigh
Winnipeg, Manitoba
During Good Behaviour
2017-02-13
2020-02-12
Hassan, Tahira
Toronto, Ontario
During Good Behaviour
2015-02-05
2018-02-04
Mahaffy, Douglas William
Toronto, Ontario
During Good Behaviour
2009-10-27
2018-10-26
Montalbano, John S.
Vancouver, British Columbia
During Good Behaviour
2017-02-13
2020-02-12
Phibbs, Mary Catherine
London, England, Outside Canada
During Good Behaviour
2017-05-04
2020-05-03
Sheriff, Karen
Halifax, Nova Scotia
During Good Behaviour
2012-10-04
2017-10-26
Tai, Jackson
Greenwich, CT, USA, Outside Canada
During Good Behaviour
2016-06-01
2019-05-31
Taylor, Kathleen
Toronto, Ontario
During Good Behaviour
2013-10-27
2019-10-26
Zurel, Jo Mark
St. John's, Newfoundland and Labrador
During Good Behaviour
2012-11-01
2017-10-26

Canadian International Trade Tribunal

The information presented on the following pages is for reference purposes only and should not be considered or relied on as an authoritative or exhaustive source of all Governor in Council appointments or positions.

Minister Responsible

Minister of Finance

Appointment Provisions

Canadian International Trade Tribunal Act
http://laws-lois.justice.gc.ca/eng/acts/C-18.3/index.html

The Canadian International Trade Tribunal consists of a Chairperson and not more than six other permanent members to be appointed by the Governor in Council.

In addition to the permanent members, the GIC may, whenever in the opinion of the GIC, the workload of the Tribunal so requires, appoint not more than five temporary members of the Tribunal on such terms and conditions as the GIC may specify.

Each permanent member shall be appointed to hold office for a term not exceeding five years and each temporary member shall be appointed to hold office for a term not exceeding three years. The permanent members and temporary members hold office during good behaviour and may be removed by the Governor in Council at any time for cause. A permanent member, on the expiration of a first term of office, is eligible to be reappointed for one further term in the same or another capacity. A temporary member is eligible to be reappointed on the expiration of a first or subsequent term of office.

The Chairperson is the Chief Executive Officer of the Tribunal and has supervision over and direction of the work of the Tribunal.

In the event of the absence or incapacity of the Chairperson or if the office of Chairperson is vacant, the Minister may authorize a permanent member to act as Chairperson but no person is authorized to act as Chairperson for a period exceeding 60 days without the approval of the Governor in Council.  A permanent member so authorized has and may exercice and perform all the powers, duties and functions of the Chairperson.

In the event of the absence or incapacity of a temporary member or a permanent member other than the Chairperson, the Governor in Council may appoint a person, on such terms and conditions as the Governor in Council may specify, to act as a substitute member for the time being.

A person, within 120 days after ceasing to be a member, may, with the authorization of the Chairperson, take part in the disposition of any matter in which that person became engaged while holding office as a member, and a person so authorized shall, for that purpose, be deemed to be a member of the Tribunal.

Quorum

Three members constitute a quorum of the Tribunal and any three or more members have and may exercise and perform all the powers, duties and functions of the Tribunal.

A lesser number of members to constitute quorum may be permitted with the approval of the Chairperson, in particular circumstances.

For the purpose of making by-laws and rules a majority of the permanent members in office shall constitute a quorum of the Tribunal.

Remuneration

Temporary Members

Appointments

Appt/Expiry
Date
Position
Level
Chairperson
1 Vacant Position
Permanent Members
Bédard, Jean
Ottawa, Ontario
Full-Time Appointment
During Good Behaviour
2014-07-28
2019-07-27
Burn, Peter
Ottawa, Ontario
Full-Time Appointment
During Good Behaviour
2015-01-05
2020-01-04
Downey, Jason
Gatineau, Quebec
Full-Time Appointment
During Good Behaviour
2009-09-14
2019-09-13
Ritcey, Rose
Ottawa, Ontario
Full-Time Appointment
During Good Behaviour
2015-01-12
2020-01-11
2 Vacant Positions
Temporary Members
Fréchette, Serge
Ripon, Quebec
Full-Time Appointment
During Good Behaviour
2017-06-05
2018-04-04
Total vacancies: 3

Canadian Securities Regulation Regime Transition Office

The information presented on the following pages is for reference purposes only and should not be considered or relied on as an authoritative or exhaustive source of all Governor in Council appointments or positions.

Minister Responsible

Minister of Finance

Appointment Provisions

Canadian Securities Regulation Regime Transition Office Act
http://laws.justice.gc.ca/eng/acts/C-23.05/index.html

The GIC shall, on the recommendation of the Minister, appoint a president, or two co-presidents acting jointly, of the Transition Office, to hold office during pleasure.

The president is the chief executive officer of the Transition Office.

In the event of the absence or incapacity of the president or a vacancy in that office, the Minister may designate a person to act as president, which person may not act for a period exceeding 90 days without the GIC’s approval.

In the event of the absence or incapacity of a co-president or a vacancy in that office, the Minister may designate a person to act as co-president, which person may not act for a period exceeding 90 days without the GIC’s approval. The other co-president may act alone until another co-president is designated or appointed.

An advisory committee of participating provinces and territories is established within the Transition Office and consists of not more than 13 members.

The GIC shall appoint, on the recommendation of the Minister, a member for each participating province and territory, from persons nominated by that province or territory, to hold office during pleasure.

The president and the members of the Advisory Committee shall not accept or hold any office or employment, or carry on any activity, that, in the Minister’s opinion, is inconsistent with the performance of their duties.

The Governor in Council may, by order, on the recommendation of the Minister, dissolve the Transition Office.

Remuneration

The GIC, on the recommendation of the Minister, shall determine the remuneration and allowances to be paid to the president and members of the Advisory Committee and other conditions of their employment.

Remuneration

President

Advisory Committee Members

  • Fixed by GiC: Position;
    per diem ($475 - $550)

Appointments

Appt/Expiry
Date
Position
Level
President
Hyndman, Douglas M.
Vancouver, British Columbia
Full-Time Appointment
During Pleasure
2016-04-11
2019-06-30
Advisory Committee Members
Arki, Louis
Iqaluit, Nunavut
During Pleasure
2009-10-14
Brown, Peter
Vancouver, British Columbia
During Pleasure
2009-10-14
Hashmi, Yousef
Charlottetown, Prince Edward Island
During Pleasure
2010-05-14
Hinds, James
Toronto, Ontario
During Pleasure
2009-10-14
Klohn, Peter M.
Rothesay, New Brunswick
During Pleasure
2011-06-23
Linn, Dale
Saskatoon, Saskatchewan
During Pleasure
2009-10-14
MacDougall, Gary
Yellowknife, Northwest Territories
During Pleasure
2009-10-14
Morris, Winston
St. John's, Newfoundland and Labrador
During Pleasure
2009-10-14
O'Brien, H. Leslie
Halifax, Nova Scotia
During Pleasure
2011-06-23
Pretorius, Frederik
Whitehorse, Yukon
During Pleasure
2009-10-14

Financial Consumer Agency of Canada

The information presented on the following pages is for reference purposes only and should not be considered or relied on as an authoritative or exhaustive source of all Governor in Council appointments or positions.

Minister Responsible

Minister of Finance

Appointment Provisions

Financial Consumer Agency of Canada Act
http://laws-lois.justice.gc.ca/eng/acts/F-11.1/index.html

The Governor in Council shall appoint an officer to be called the Commissioner of the Financial Consumer Agency of Canada. The Commissioner has the rank and all the powers of a deputy head of a department. The Commissioner holds office during good behaviour for a term of not more than five years, but may be removed for cause by the Governor in Council. The Commissioner, on the expiration of any term of office, is eligible to be re-appointed for a further term of office.

In the event of the absence or incapacity of the Commissioner, or if the office of Commissioner is vacant, the Minister may appoint a qualified person to exercise the powers and perform the duties and functions of the Commissioner, but no person may be so appointed for a term of more than 90 days without the approval of the Governor in Council.

The Governor in Council shall appoint an officer to be called the Financial Literacy Leader who shall act under the instructions of the Commissioner. The Financial Literacy Leader holds office during pleasure for a term of not more than five years. The Financial Literacy Leader, on the expiry of any term office, is eligible to be reappointed for a further term of office.

In the event of the absence or incapacity of the Financial Literacy Leader, or if the office is vacant, the Minister may appoint a qualified person to exercise the powers and perform the duties and functions of the Financial Literacy Leader, but no person may be so appointed for a term of more than 90 days without the approval of the Governor in Council.

Appointments

Appt/Expiry
Date
Position
Level
Commissioner
Tedesco, Lucie
Greely, Ontario
Full-Time Appointment
During Good Behaviour
2013-09-03
2018-09-02
Financial Literacy Leader
Rooney, Jane
Ottawa, Ontario
Full-Time Appointment
During Pleasure
2014-04-10
2019-04-09

Financial Transactions and Reports Analysis Centre of Canada

The information presented on the following pages is for reference purposes only and should not be considered or relied on as an authoritative or exhaustive source of all Governor in Council appointments or positions.


Minister Responsible

Minister of Finance

Appointment Provisions

Proceeds of Crime (Money Laundering) and Terrorist Financing Act

The Governor in Council shall appoint a Director to hold office during pleasure for a term of not more than five years.

The Director is eligible to be reappointed on the expiry of a first or subsequent term of office. No person shall hold office as Director for terms of more than ten years in the aggregate.

In the event of the absence or incapacity of the Director, or if the office of Director is vacant, the Governor in Council may appoint a qualified person to hold office instead of the Director for a term of not more than six months, and the person shall, while holding that office, have all of the powers, duties and functions of the Director.

The Director may delegate to any person, subject to any terms and conditions that the Director may specify, any power, duty or function conferred on the Director.

The Director is the chief executive officer of the Centre, has supervision over and direction of its work and employees and may exercise any power and perform any duty or function of the Centre. The Director has the rank and all the powers of a deputy head of a department.

Appointments

Appt/Expiry
Date
Position
Level
Director
1 Vacant Position
Total vacancies: 1

International Bank for Reconstruction and Development

The information presented on the following pages is for reference purposes only and should not be considered or relied on as an authoritative or exhaustive source of all Governor in Council appointments or positions.

Minister Responsible

Minister of Finance

Appointment Provisions

Bretton Woods and Related Agreements Act
http://laws-lois.justice.gc.ca/eng/acts/B-7/page-6.html#h-2

The Canadian governor and alternate governor are the only GIC appointees.

Remuneration


Remuneration

Governor/alternate Governor

  • Not Paid (public servant)
  • Governors and alternates shall serve as such without compensation from the Bank, but the Bank shall pay them reasonable expenses incurred in attending meetings. (Article V(2)g) of the Agreement)

Appointments

Appt/Expiry
Date
Position
Level
Alternate Governor
Jacovella, Diane
Gatineau, Quebec
During Pleasure (Interpretation Act)
2017-08-15

International Monetary Fund

The information presented on the following pages is for reference purposes only and should not be considered or relied on as an authoritative or exhaustive source of all Governor in Council appointments or positions.

Minister Responsible

Minister of Finance

Appointment Provisions

Bretton Woods and Related Agreements Act
http://laws-lois.justice.gc.ca/eng/acts/B-7/page-5.html#h-1

The Board of Governors shall consist of one Governor and one Alternate appointed by each member country in such manner as it may determine. Ex officio, the Minister of Finance is the Governor.

The Canadian Governor and Alternate Governor are the only GIC appointees, and hold office during pleasure.

Remuneration

Governor/alternate Governor

  • Remuneration Nil - Statutory Prohibition
  • Governors and Alternates shall serve as such without compensation from the Fund, but the Fund may pay them reasonable expenses incurred in attending meetings (Article XII(2)h) of the Agreement).

Appointments

Appt/Expiry
Date
Position
Level
Ex Officio Governor (Minister of Finance)
Morneau, William Francis
Ottawa, Ontario
During Pleasure (Interpretation Act)
2015-11-04
Alternate Governor
Poloz, Stephen S.
Ottawa, Ontario
During Pleasure (Interpretation Act)
2013-12-17

Multilateral Investment Guarantee Agency

The information presented on the following pages is for reference purposes only and should not be considered or relied on as an authoritative or exhaustive source of all Governor in Council appointments or positions.


Minister Responsible

Minister of Finance

Appointment Provisions

Bretton Woods and Related Agreements Act

The Governor and the Alternate Governor are appointed by the GIC to hold office during pleasure.

Remuneration

Governor

  • Not Paid (public servant)

Alternate Governor

  • Not Paid (public servant)

Appointments

Appt/Expiry
Date
Position
Level
Ex Officio Governor (Minister of Finance)
Morneau, William Francis
Ottawa, Ontario
During Pleasure (Interpretation Act)
2015-11-04
Alternate Governor
Jacovella, Diane
Gatineau, Quebec
During Pleasure (Interpretation Act)
2017-08-15

Office of the Auditor General of Canada

The information presented on the following pages is for reference purposes only and should not be considered or relied on as an authoritative or exhaustive source of all Governor in Council appointments or positions.

Minister Responsible

Minister of Finance

Appointment Provisions

Auditor General Act
http://laws-lois.justice.gc.ca/eng/acts/A-17/page-2.html#h-3

The Governor in Council shall, by commission under the Great Seal, appoint an Auditor General of Canada after consultation with the leader of every recognized party in the Senate and House of Commons and approval of the appointment by resolution of the Senate and House of Commons. The Auditor General holds office during good behaviour for a term of ten years, but the Auditor General may be removed for cause by the Governor in Council on address of the Senate and House of Commons. Once having served as Auditor General, a person is not eligible for re-appointment to that office.

In the event of the absence or incapacity of the Auditor General or if that office is vacant, the Governor in Council may appoint any qualified auditor to hold that office in the interim for a term not exceeding six months, and that person shall, while holding office, be paid the salary or other remuneration and expenses that may be fixed by the Governor in Council.

The Auditor General is an agent of Parliament. The Minister of Finance has been designated as the appropriate Minister for the purposes of the Financial Administration Act.

Eligibility/Conflicts

Must be able to speak and understand clearly both official languages at the time of his or her appointment.

(Language Skills Act - http://laws.justice.gc.ca/eng/acts/L-6.2/index.html)

Consultation

The Governor in Council shall, by commission under the Great Seal, appoint an Auditor General of Canada after consultation with the leader of every recognized party in the Senate and House of Commons and approval of the appointment by resolution of the Senate and House of Commons.

Appointments

Appt/Expiry
Date
Position
Level
Auditor General
Ferguson, Michael
Hanwell, New Brunswick
Full-Time Appointment
During Good Behaviour
Salary equal to a puisne judge of the Supreme Court of Canada.
2011-11-28
2021-11-27

Office of the Superintendent of Financial Institutions

The information presented on the following pages is for reference purposes only and should not be considered or relied on as an authoritative or exhaustive source of all Governor in Council appointments or positions.

Minister Responsible

Minister of Finance

Appointment Provisions

Office of the Superintendent of Financial Institutions Act
http://laws-lois.justice.gc.ca/eng/acts/O-2.7/page-3.html#h-5

The GIC shall appoint the Superintendent of Financial Institutions to be the deputy head of the Office. The Superintendent of Financial Institutions holds office during good behaviour for a term of seven years but may be removed for cause by the GIC, and is eligible to be reappointed for a further term of office.

In the event of the absence or incapacity of the Superintendent, or if the office of Superintendent is vacant, the GIC may appoint a qualified person to hold office instead of the Superintendent for a term not exceeding six months, and this person is eligible for re-appointment for a further term.

Where the Superintendent is removed from office, the Order in Council providing for the removal and the documents relating thereto shall be laid before each House of Parliament not later than the fifteenth sitting day of that House following the day that the Order is issued.

Appointments

Appt/Expiry
Date
Position
Level
Superintendent
Rudin, Jeremy
Ottawa, Ontario
Full-Time Appointment
During Good Behaviour
2014-06-29
2021-06-28

Royal Canadian Mint

The information presented on the following pages is for reference purposes only and should not be considered or relied on as an authoritative or exhaustive source of all Governor in Council appointments or positions.


Crown Corporation (FAA, Sched. III, Part II)

Minister Responsible

Minister of Finance

Mandate

The Royal Canadian Mint is a commercial Crown corporation responsible for the production and distribution of all of Canada's circulation coins. It also produces foreign circulation, numismatic and bullion coins for domestic and international consumers. The Mint's Ottawa and Winnipeg production facilities are among the largest and most advanced minting operations in the world. The Mint employs more than 700 people in the design, production and marketing of coins.

Head Office

Ottawa, Ontario

Appointment Provisions

Royal Canadian Mint Act

The Board of Directors of the Mint shall consist of not less than nine and not more than eleven directors, including the Chairperson and the Master of the Mint.

The Chairperson is appointed by Governor in Council to hold office during pleasure for any term that the Governor in Council considers appropriate; eligible for reappointment.

The Master of the Mint shall be appointed by the Governor in Council to hold office during pleasure for such term as the Governor in Council considers appropriate; eligible for reappointment.

Each director, other than the Chairperson and the Master of the Mint, shall be appointed by the Minister, with the approval of the Governor in Council, to hold office during pleasure for such term, not exceeding four years, as will ensure, as far as possible, the expiration in any one year of the terms of office of not more than one-half of the directors; eligible for reappointment in the same or another capacity.

The Board may authorize one of its directors or an officer of the Mint to act as Master in the event that the Master is absent or incapacitated or if the office of Master is vacant but no person so authorized shall act as Master for a period exceeding sixty days without the approval of the Governor in Council.

The Governor in Council may, on such terms and conditions as the Governor in Council may prescribe, appoint a temporary substitute director if a director, other than the Master, is unable at any time to perform the duties of office by reason of absence or incapacity.

No officer or employee of a Crown corporation or any of its affiliates, other than the chief executive officer of a parent Crown corporation, shall be a director of the parent Crown corporation.

A person is not eligible to be appointed or to continue as a director of the Mint if the person is not a Canadian citizen resident in Canada. The directors must not be engaged directly or indirectly in any undertaking involving or associated with:

  • the production or distribution of copper, copper alloy, nickel or precious metals;
  • the purchase, production, distribution or sale of coins or coin-operated devices and
  • the vending of goods and services by means of coin-operated devices.

Where the office of a director becomes vacant during the term of the director appointed thereto, the Governor in Council may appoint a director for the remainder of that term.

If any director is not appointed to take office on the expiration of the term of an incumbent director, other than an officer-director, the incumbent director continues in office until a successor is appointed.

Eligibility/Conflicts

A person is not eligible to be appointed or to continue as a director of the Mint if the person is not a Canadian citizen ordinarily resident in Canada or if, directly or indirectly, the person is engaged in any undertaking involving or associated with: the production or distribution of copper, copper alloy, nickel or precious metals; the purchase, production, distribution or sale of coins or coin operated devices; or the vending of goods and services by means of coin operated devices.

Consultation

The Financial Administration Act requires that before the Master of the Mint and the Chairperson are appointed, the Minister shall consult the Board of Directors of the Corporation with respect to the appointment.

Auditor

By virtue of section 26 of the Royal Canadian Mint Act the Auditor General is the auditor of the Mint.

Remuneration

Chairperson

  • Fixed by GiC: Position;
    per diem ($410 - $485)
  • Position; annual ($10,500 - $12,400)

Director

  • Fixed by GiC: Position;
    per diem ($410 - $485)
  • Position; annual ($5,300 - $6,200)
  • Plus reasonable travel and other expenses. Expenses fixed by by-laws of the Corporation.

    Directors who are public servants serve without remuneration.

Appointments

Appt/Expiry
Date
Position
Level
Master of the Mint
Hanington, Sandra
Toronto, Ontario
Full-Time Appointment
During Pleasure
2015-02-11
2020-02-10
Chairperson
1 Vacant Position
Directors
Bell, John K.
Cambridge, Ontario
During Pleasure
2009-05-14
2016-12-16
Dujmovic, Susan
Vancouver, British Columbia
During Pleasure
2006-09-15
2016-10-08
Falardeau, Serge
Ste-Marie de Beauce, Quebec
During Pleasure
2017-10-18
2021-10-17
Harvey, Ghislain
La Baie, Quebec
During Pleasure
2003-10-21
2018-02-25
Negris, Cybele
Vancouver, British Columbia
During Pleasure
2017-10-18
2021-10-17
Ross, William C.
Toronto, Ontario
During Pleasure
2015-07-01
2019-06-30
Shannon Trudeau, Deborah
Montréal, Quebec
During Pleasure
2017-10-18
2021-10-17
Skelton, Carol
Harris, Saskatchewan
During Pleasure
2015-03-26
2019-03-25
Young, Victor L.
St. John's, Newfoundland and Labrador
During Pleasure
2017-10-18
2020-10-17
Total vacancies: 1