The order is retroactive. It simply specifies that institutions have a duty to cease dealings with people involved.

https://orders-in-council.canada.ca/attachment.php?attach=41...

I don't see what makes you think it's retroactive in the act. The government has also said it's not going to be applied retroactively.

https://www.macleans.ca/politics/ottawa/what-ottawa-can-do-n...

Except most mainstream news said that the frozen accounts were made for donations made retro-actively before the Emergency Act. This is a matter of public notoriety as this point.

The media may have reported what the person said / claimed happened. What actually happened may have been different.

> However, Jacques said some bank account holders may still be subject to other court orders freezing their assets.

> The province of Ontario won an order on Feb. 10 that froze the distribution of funds raised through the American online funding platform, GiveSendGo. And on Feb. 17 a group of Ottawa citizens, businesses, and employees who are suing key organizers of the so-called Freedom Convoy 2022 won a sweeping order to preserve their ability to recover damages.

[…]

> The emergency financial orders took effect on Feb. 15, and Jacques made clear it has no retroactive effect, so that anyone who donated to crowdfunding platforms prior to Feb. 15 should not be captured by the order, she said.

* https://www.stcatharinesstandard.ca/ts/politics/federal/2022...