Framework on the Access to and Use of Cash Act

Bill C-276 would require the federal government to take action to protect Canadians' ability to use physical cash. Within 90 days of the law taking effect, the Minister of Finance would have to review existing laws, regulations, and policies affecting the availability of cash at financial institutions. The Minister would then have to develop and roll out a formal framework aimed at ensuring people across Canada can still access and use cash, including reasonable access to withdrawal and deposit services, protecting the use of cash alongside digital currencies, removing obstacles to cash donations for charities and community groups, and maintaining the equipment and infrastructure needed to sort, store, and distribute cash.

The bill sets reporting deadlines: within 18 months, the Minister must table a report in Parliament describing the framework and publish it online, and within three years after that, a further review of how well the framework is working must be reported to Parliament as well.

The bill also makes changes to two existing laws. It removes the federal government's power (held by the Governor in Council) to "call in," or withdraw from circulation, existing coins and paper bills. It also amends the Bank of Canada Act to explicitly prohibit the Bank of Canada from issuing a digital version of the Canadian dollar, meaning a central bank digital currency could not be created under this law.

This bill requires the Minister of Finance to review, develop, and report on a framework for cash access, removes the government's power to call in coins and notes, and prohibits the Bank of Canada from issuing a digital dollar.

• Who holds the power — the Minister of Finance must conduct a review within 90 days and then develop and implement a framework for cash access; the bill does not create any new body or office to do this.
• Discretion in framework content — the Act lists things the framework "must include measures to" address (infrastructure access, protecting cash use, removing donation barriers, ensuring long-term viability of cash infrastructure), but leaves the specific content, targets (e.g., "a reasonable distance for people to travel"), and methods entirely to the Minister's determination, with no criteria set in the bill itself.
• Reporting obligations — the Minister must table a report on the framework in both Houses of Parliament within 18 months, publish it on the Department of Finance website within 10 days of tabling, and table a follow-up review report within three years of the first report's tabling; neither report is subject to a parliamentary vote or approval.
• Removal of an existing power — repeals subsection 9(1) of the Currency Act and removes the Governor in Council's (Cabinet's) power to call in coins and notes, and makes a related consequential change to the Bank of Canada Act.
• New prohibition — adds a provision to the Bank of Canada Act stating the Bank "shall not issue a digital form of the dollar," with no sunset clause and no exceptions specified.
• Oversight — the only accountability mechanisms specified are the two tabled reports to Parliament; the bill does not create any penalty provisions, enforcement body, or mechanism for Parliament to reject or amend the Minister's framework.