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The SAC was established in 1996 on a voluntary basis and was formalized in the Canadian Payments Act in 2001. [12] The SAC provides advice to the Payments Canada Board of Directors on payment, clearing, and settlement matters, and contributes input on proposed initiatives, including by-laws, policy statements, and rules that affect third parties.
In the United States, prompt payment of federal government supplier debts is enshrined in Title 31 of the United States Code, chapter 39 being known as the 'Prompt Payment Act'. The California Legislature has implemented a comprehensive series of laws known as the 'prompt payment statutes'.
A detailed examination of the Court's language [in BCE Inc. v. 1976 Debentureholders] reveals that the duty of directors in Canada to 'act honestly and in good faith with a view to the best interests of the corporation' is an implied three-part fiduciary duty, which operationalizes the principle of fair treatment. [42]
The Financial Administration Act (French: Loi sur la gestion des finances publiques) ('The Act') is legislation enacted by the Parliament of Canada, governing financial administration of the government, public assets, the estimates process, the Department of Finance, the Treasury Board of Canada and Crown Corporations.
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Kathleen "Katie" Patricia Taylor CM (born August 25, 1957) is a Canadian business executive who is the chancellor of York University.She was the chair of the board of the Royal Bank of Canada (RBC) from 2014 to 2023, and is the first woman to chair the board of a major Canadian bank. [1]
Established in 2016, FSRA officially succeeded its predecessor agencies – the Financial Services Commission of Ontario and the Deposit Insurance Corporation of Ontario – on June 8, 2019. [1] The Financial Services Regulatory Authority of Ontario operates at arms-length from the Government of Ontario , and reports to the Legislative Assembly ...
John Edward Caldwell (born c. 1950) is a Canadian business executive who is chair of Advanced Micro Devices and a director of Faro Technologies, Iamgold, and Samuel, Son & Co. [1] Caldwell earned a bachelor of commerce degree from Carleton University in Ontario, Canada, and is a member of the Charted Professional Accountants of Ontario.