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S-214 — An Act to amend the Special Economic Measures Act (disposal of foreign state assets)
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S-214
An Act to amend the Special Economic Measures Act (disposal of foreign state assets)
In progress
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BILL S-214
An Act to amend the Special Economic Measures Act (disposal of foreign state assets)
Last activity : Senate bill awaiting first reading in the House of Commons
In progress
Senate · 1st2025-05-27Senate · 2nd2026-03-26Senate · 3rd2026-05-26Commons · 1stCommons · 2ndCommons · 3rdRoyal assent
Sign-in required — one request per person, no anonymous requests
What it does, in plain language
- Amends the Special Economic Measures Act, the law Canada uses to impose sanctions and freeze foreign-linked property.
- Creates a new power (section 5.41) letting the Governor in Council order the forfeiture to the Crown of frozen property owned, held or controlled by a foreign state.
- Removes the need for a court process in these cases: forfeiture happens by government order instead of a judicial one.
- Bars courts from issuing forfeiture orders for property owned, directly or indirectly, by a foreign state.
- Extends existing payout rules to the proceeds of these new forfeitures, with payments from the Proceeds Account made after consulting the Minister of Finance and the Minister of Foreign Affairs.
- Makes the property owner liable for the costs of seizure and disposal, treated as a debt to the Crown recoverable in court.
- Allows the RCMP Commissioner to assist the Minister in making such forfeiture orders and to collect and share related information.
- Introduced in the Senate at first reading on May 28, 2025, by Senator Dasko.
🤖 AI-generated from the bill’s official text as introduced — may not reflect amendments adopted since.
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