Consultation on the Annual Regulatory Modernization Bill

The Office of the Superintendent of Bankruptcy would like to let Licensed Insolvency Trustees know that the Regulatory Affairs Sector of the Treasury Board Secretariat (TBS) is seeking input from interested stakeholders in the context of a consultation on the Annual Regulatory Modernization Bill (ARMB).

The TBS is seeking input from industry stakeholders, non-governmental organizations and other organizations or individuals interested in legislative issues related to regulatory modernization for its next iteration of the ARMB . This consultation is available on the online engagement platform piloted by TBS, Let's Talk Federal Regulations. The consultation focuses on three key elements:

  • Incorporation by reference of internal government documents by allowing specific documents to have the same force of law as regulations, without the need to make regulatory changes each time the document is updated.
  • Setting up sandbox authorities to test regulatory approaches in a controlled and temporary space, collect evidence on how the approaches work and then use that evidence to make permanent regulatory changes or decisions.
  • Gathering suggestions on potential legislative changes to remove unnecessary requirements, address overly restrictive legislation or burdensome processes

For more information about the themes, guiding questions, and instructions for submissions, see the project Web page. Comments need to be sent by May 26, 2023.