On February 28, 2008, PPP Canada was incorporated pursuant to the Canada Business Corporations Act. On May 8, 2008, the Governor-in-Council declared PPP Canada as a Parent Crown corporation for the purposes of Part X, (except section 90) of the Financial Administration Act and reports to Parliament through the Minister of Finance. The objects for the Corporation were established by Order-in-Council as follows:
- Assess public-private partnerships opportunities at the federal level in accordance with criteria established by the Treasury Board;
- Assess the suitability of public-private partnership projects seeking funding from federal infrastructure programs in accordance with criteria established by or pursuant to Treasury Board authorities;
- Advise on the execution of public-private partnership projects at the federal level;
- Manage the Public-Private Partnerships Funds (P3 Canada Fund) in accordance with the policies and authorities established by the Treasury Board;
- Negotiate, sign and administer agreements to be funded through the P3 Canada Fund in accordance with the policies and authorities established by the Treasury Board; and,
- Act as a source of expertise and advice on public-private partnership matters.
The OIC also stipulates the foregoing objects shall in no way include the initiation, development or elaboration of policy related to decision-making concerning PPP project approval.
Authority for Project Approval
The Board of Directors will approve recommendations to the Minister (s).
The Minister of Finance and the President of the Treasury Board share responisbility with respect to approval and amendments of certain projects funded by the P3 Canada Fund.