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S-214 โ€” An Act to amend the Special Economic Measures Act (disposal of foreign state assets)

Bill S-214 ยท Legislation ยท 10/28/2026, 5:47:19 AM

Bill summary
Based on the official bill text (As passed by the Senate, May 26, 2026) โ€” Parliament of Canada (LEGISinfo/DocumentViewer)

What the bill does

  • Creates a process for the Governor in Council to order the forfeiture to Canada of foreign-state property already subject to a seizure or restraint order under the Special Economic Measures Act. The summary says this permits disposal where the seizure occurred without a judicial order.
  • Excludes property owned, held or controlled directly or indirectly by a foreign state from forfeiture orders under the existing section 5.4 process.

Who is affected

  • Foreign states whose property is subject to a seizure or restraint order under the Act.
  • Property owners, who remain liable for specified government costs.
  • The ministers and RCMP commissioner involved in forfeiture and management of proceeds.

Other changes

  • Costs: Makes the property owner liable for costs incurred by or on behalf of Canada in seizing or restraining property or disposing of property forfeited under either section 5.4 or the new section 5.41. The costs are a debt recoverable in court.
  • Proceeds: Extends the existing authority to pay out net disposition proceeds for specified purposes to property forfeited under the new foreign-state process. The minister must consult the ministers of Finance and Foreign Affairs.
  • RCMP: Allows the RCMP commissioner to assist the minister with a new section 5.41 order and, for that purpose, collect and disclose information to the persons specified in the Act.
  • Related provision: Updates section 5.2(b) to refer to forfeiture under either section 5.4 or 5.41.

Status and timing

  • The provided text says the bill was passed by the Senate on May 26, 2026, and lists its stage as third reading.
  • The provided text does not specify a coming-into-force date or deadline.
Last updated Oct 28, 2026, 2:38 PM
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