Small Business Minister designated for BDC

Summary#

This Order (SI/2023-73) names the Minister of Small Business and Tourism as the minister responsible for the Business Development Bank of Canada under two federal laws: the Business Development Bank of Canada Act and the Financial Administration Act. The decision was made by P.C. 2023-1066 on October 27, 2023 and published in the Canada Gazette on November 22, 2023; it repeals the earlier order P.C. 2019-1367 of November 20, 2019.

What it does#

• Repeals the earlier designation set out in P.C. 2019-1367 (the order from November 20, 2019).
• Designates the Minister of Small Business and Tourism as the “Designated Minister” for the purposes of the Business Development Bank of Canada Act.
• Designates the Minister of Small Business and Tourism as the “appropriate Minister” with respect to the Business Development Bank of Canada under the Financial Administration Act.

Who's affected#

• Business Development Bank of Canada (the federal Crown corporation named in the order).
• The Minister of Small Business and Tourism and that minister’s office (formally takes on the accountability roles set by the two Acts).
• Other federal departments, Parliament, and people or organizations that deal with the BDC may notice a change in which minister is the named point of contact.
• It is not clear from the order whether any day‑to‑day services or programs of the BDC will change.

Why it matters#

• The order changes which minister is formally responsible and accountable for the BDC under federal law.
• That affects who answers questions in Parliament, who signs off on certain financial and administrative documents, and who is the official government contact for oversight of the BDC.
• This is an administrative designation; it does not, by itself, describe any change to the BDC’s programs or services.