C-40Strengthening Canada's Defence Sector Act

What it does

• Creates the Canadian Corporation for Defence Investment, also called the Defence Investment Agency, to handle defence production, procurement and investment for the Canadian Forces, the Department of National Defence and some associated governments.
• Lets the minister direct the corporation’s work, including stopping activities, setting how it carries them out and requiring ministerial approval at set points.
• Gives the corporation financial tools, including loans, advance payments, loan guarantees, loan insurance, credit insurance and, with approvals, investments in shares or other financial instruments.
• Expands the Defence Production Act to cover national security supplies, projects and services, and lets the Minister of Public Works and Government Services acquire and stockpile items for defence, national security and economic security.
• Sets procurement rules for defence and national security, adds related changes to the Access to Information Act and requires a review of the new corporation and the Defence Production Act changes.