Laws and reports

BDC provides financing, capital and advisory services to help create and grow Canadian small and medium‑sized businesses. BDC is subject to various laws.

Business Development Bank of Canada Act

BDC is governed by the Business Development Bank of Canada Act which came into effect in 1995, superseding the Federal Business Development Bank Act. It stipulates that the Act be reviewed five years after coming into force, and every ten years afterwards. The last legislative review was completed in December 2014 with a few amendments made to the Act.

Legislative review 2022-2023

The Minister responsible for BDC is currently undertaking a legislative review to ensure BDC’s mandate remains pertinent and it has the tools necessary to keep pace with Canada’s small business market dynamics.

To help inform the legislative review process, BDC made a formal submission, The Bank of Ambitions: All in for entrepreneurs, and for Canada, which provides a contextual overview of BDC’s operations, a review of accomplishments since 2010, an account of current challenges and opportunities for SMEs and a look at how BDC can best support them into the future.

Financial Administration Act

Under Part X of the Financial Administration Act, BDC is required to:

• Maintain financial and management control and information systems and management practices that provide reasonable assurance that its assets are safeguarded and controlled.
• Ensure that its financial, human, and physical resources are managed economically and efficiently.
• Ensure that its operations are carried out effectively.

BDC is also required to have a Special examination of these systems and practices carried out at least once every ten years. View the Special examination report—2018 (PDF).