Further to our notice earlier this week, please note that the final versions of the CARM regulatory package have been published in the Canada Gazette, Part II. The regulations are published in two packages:
- Regulations Amending Certain Regulations Administered and Enforced by the Canada Border Services Agency: https://canadagazette.gc.ca/rp-pr/p2/2024/2024-03-13/html/sor-dors41-eng.html
- Financial Security (Electronic Means) Regulations: https://canadagazette.gc.ca/rp-pr/p2/2024/2024-03-13/html/sor-dors42-eng.html
The CSCB has compared the final, published regulations to those pre-published for comment in the Canada Gazette, Part I in November 2022. While there are only minor changes to the “Regulations Amending Certain Regulations…..,” there have been significant changes to the Financial Security (Electronic Means) Regulations. You can access a “compare versions” document for the financial security regulations here.
These regulations are expected to come into force at 3:00:01 EDT on May 13, 2024, to immediately follow the coming into force of the Customs Act changes that serve as the legislative basis for the regulatory amendments. The coming into force order for the Customs Act amendments is located here: Orders In Council - Search (canada.ca).