Receipt and Deposit of Public Money Regulations, 1997

The Receipt and Deposit of Public Money Regulations, 1997 were made by the Treasury Board pursuant to section 17 of the Financial Administration Act. The Regulations came into force on February 23, 1998.

These Regulations deal with the collection, receipt, and deposit of public money in Canada. They establish the requirements for recording receipts and deposits, as well as the procedures for crediting the Receiver General with public money.

The Regulations require every person who collects or receives public money to record the information in a register, including the date, amount, and other relevant details. On request, or if directed by the appropriate Minister, these individuals must issue a receipt or acknowledgment for any public money collected or received.

Public money must be paid to the credit of the Receiver General by depositing it into an account established under subsection 17(2) of the Act. The Regulations provide different timeframes for this payment, depending on whether the money is collected or received electronically, by other means, or in exceptional circumstances.

The Regulations also address the issue of withholding fees or commissions from payments to the credit of the Receiver General. These fees or commissions must be determined in accordance with an enactment or a contractual arrangement entered into by Her Majesty and the individual.

Overall, these Regulations aim to ensure that public money is collected, received, and deposited in a transparent and timely manner, while also providing for the proper handling of fees and commissions.