Public Contracts: the Latest Developments Regarding AMF Authorization
The Integrity in Public Contracts Act, assented to by the Quebec legislature on December 7, 2012, amended, inter alia, the Act respecting contracting by public bodies so that authorization from Quebec’s financial markets regulator, the Autorité des marchés financiers (the “AMF”), must now be obtained by any business enterprise seeking to enter into a public contract or subcontract, for an amount determined by the government. Such authorization effectively certifies that the enterprise in question satisfies the high standards of integrity that the public has the right to expect from them. These new provisions apply to the entire public sector, including Crown corporations and municipalities.