NEWFOUNDLAND AND LABRADOR
REGULATION 9/25

Department of Finance Notice, 2025
under the
Executive Council Act
(O.C. 2020-186)

(Filed February 3, 2025)

Under the authority of section 5 of the Executive Council Act, the Lieutenant-Governor in Council gives the following Notice.

Dated at St. John’s, January 31, 2025.

Krista Quinlan
Clerk of the Executive Council

NOTICE

Analysis

        1.   Short title

        2.   Definitions

        3.   Departmental structure

        4.   Powers and duties of the minister

        5.   Administration of Acts

        6.   Repeal

              Schedule A
Schedule B
Schedule C

Short title

        1. This Notice may be cited as the Department of Finance Notice, 2025.

Definitions

        2. In this Notice

             (a)  "department" means, unless the context indicates otherwise, the Department of Finance; and

             (b)  "minister" means, unless the context indicates otherwise, the Minister of Finance.

Departmental structure

        3. (1) The department was restructured by Order in Council 2020-186.

             (2)  The department is presided over by the minister.

             (3)  The department has 3 branches, as follows:

             (a)  Economics and Statistics;

             (b)  Tax and Fiscal Policy; and

             (c)  Treasury Management and Budgeting.

Powers and duties of the minister

        4. The powers, functions and duties of the minister include the supervision, control and direction of all matters relating to

             (a)  fiscal forecasting, including annual budget preparation;

             (b)  tax policy and the administration of tax statutes;

             (c)  debt issuance and investment;

             (d)  treasury management and analysis;

             (e)  economic and demographic forecasting; and

             (f)  representing the province on statistical matters,

which are not, or in so far as they are not, the responsibility of another minister, agency, body, corporation, board, organization or person.

Administration of Acts

        5. (1) The minister has sole responsibility for the administration of the Acts set out in Schedule A and of all orders and regulations passed or made under those Acts, including those powers, functions or duties necessary or desirable for carrying out the purposes of those Acts.

             (2)  The minister and the minister of the departments indicated in Schedules B and C share responsibility for the administration of the Acts set out in Schedules B and C and of the orders and regulations passed or made under those Acts, including those powers, functions or duties necessary or desirable for carrying out the purposes of those Acts.

             (3)  The minister has primary responsibility for the administration of the Act set out in Schedule B and secondary responsibility for the administration of the Acts set out in Schedule C.

Repeal

        6. The Department of Finance Notice, 2019, Newfoundland and Labrador Regulation 94/19, is repealed.

Schedule A

              1.  Crown Guarantee and Loan Act

              2.  Crown Royalties Act          

              3. Future Fund Act

              4. Government-Javelin Taxation Act

              5.  Income Tax Act, 2000

              6.  Industrial Development Corporation Act

              7.  Labour-Sponsored Venture Capital Tax Credit Act

              8.  Labrador Mining and Exploration Company Limited Act

              9.  Loan (Canada Pension Plan Investment Fund) Act, 1966

            10.  Loan Act

            11.  Loan and Guarantee Act, 1957

            12.  Local Authority Guarantee Act, 2005

            13.  Lotteries Act                        

            14.  Newfoundland and Labrador Corporation Limited Act

            15.  Offshore Area Corporate Income Tax Act

            16.  Revenue Administration Act

            17.  School Tax Authorities Winding Up Act

            18.  Services Charges Act

            19.  Statistics Agency Act

            20.  Stock Savings Tax Credit Act

            21.  Supply Act

            22.  Tax Agreement Act, 2010                      

            23.  Venture Capital Act

Schedule B       

              1.  Financial Administration Act (with Executive Council)

                 

 

Schedule C

              1.  Government-Corner Brook Pulp and Paper Limited Agreement Act (with Fisheries, Forestry and Agriculture)

              2.  Government-Corner Brook Pulp and Paper Limited Agreement Act, 1994 (with Fisheries, Forestry and Agriculture)

              3.  Taxation of Utilities and Cable Television Companies Act (with Municipal and Provincial Affairs)

              4.  Transparency and Accountability Act (with Executive Council)

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