Vol. 138, No. 19 — September 22, 2004

Registration
SI/2004-119 22 September, 2004

AN ACT TO AMEND THE CRIMINAL CODE (CAPITAL MARKETS FRAUD AND EVIDENCE-GATHERING)

Order Fixing September 15, 2004 as the Date of the Coming into Force of Certain Sections of the Act

P.C. 2004-964 1 September, 2004

Her Excellency the Governor General in Council, on the recommendation of the Minister of Justice, pursuant to section 9 of An Act to amend the Criminal Code (capital markets fraud and evidence-gathering), assented to on March 29, 2004, being chapter 3 of the Statutes of Canada, 2004, hereby fixes September 15, 2004 as the day on which sections 2 to 8 of that Act come into force.

EXPLANATORY NOTE

(This note is not part of the Order.)

An Act to amend the Criminal Code (capital markets fraud and evidence-gathering) ("the Act") was assented to on March 29, 2004. The Act amends the Criminal Code by strengthening the laws that deal with fraud affecting the capital markets.

The Order brings into force the provisions of the Act on September 15, 2004, other than section 1, which provides for concurrent jurisdiction for the Attorney General of Canada to prosecute certain offences in relation to fraud.

The Act amends the Criminal Code by creating a new offence of prohibited insider trading as well as a new offence to prohibit threatening or retaliating against employees for disclosing unlawful conduct. It increases the maximum penalties and codifies aggravating and non-mitigating sentencing factors for fraud and certain related offences.

The Act also creates a new procedural mechanism by which persons will be required to produce documents, data or information in specific circumstances.

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