Bill Detail
An Act to implement the Protocol on the Accession of the United Kingdom of Great Britain and Northern Ireland to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership ✓ Became Law
This enactment implements the Protocol on the Accession of the United Kingdom of Great Britain and Northern Ireland to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, done at Auckland and Bandar Seri Begawan on July 16, 2023, by updating how that Agreement is defined or referred to in certain Acts and by amending other Acts to bring them into conformity with Canada’s obligations under that Agreement and Protocol.
This bill implements the United Kingdom's accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). It updates Canadian laws to align with the agreement and the UK's participation, ensuring that references to the CPTPP in various acts now include any accession protocols.
These changes affect how Canadian laws, particularly those related to financial institutions like banks and insurance companies, interact with international trade agreements. It also modifies tariff provisions in the Customs Tariff Act to include specific rates for goods from the UK under the CPTPP, potentially impacting businesses involved in trade with the UK.