GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Canada Cooperatives Regulations — 36
36 The financial statements referred to in paragraph 247(1)(a) of the Act of a distributing cooperative shall be prepared in accordance with the generally accepted accounting principles that are set out in the CPA Canada Handbook – Accounting or the CPA Canada Public Sector Accounting Handbook , as amended from time to time. SOR/2016-98, s. 5
Canada Cooperatives Regulations — 37
37 The auditor’s report referred to in section 261 of the Act shall be prepared in accordance with the generally accepted auditing standards that are set out in the CPA Canada Handbook – Assurance , as amended from time to time. SOR/2016-98, s. 5
Canada Cooperatives Regulations — 38
38 (1) The financial statements referred to in paragraph 247(1)(a) of the Act shall include at least (a) a balance sheet; (b) a statement of retained earnings; (c) an income statement; and (d) a statement of changes in financial position. (2) Financial statements need not be designated by the names set out in paragraphs (1)(a) to (d).
Canada Cooperatives Regulations — 38.1
38.1 Despite subparagraph 298(1)(b)(ii) of the Act, the resolutions approving the amalgamation of a holding cooperative with one or more of its wholly owned subsidiary cooperatives may provide that the cooperative name set out in the articles of amalgamation is not the same as that set out in the articles of the amalgamating holding cooperative. SOR/2010-72, s. 4
Canada Cooperatives Regulations — 39
dinarily resident in Canada and who (i) is a full-time employee of the Government of Canada or a province, of an agency of any such government or of a federal or provincial crown corporation, (ii) is a full-time employee of a body corporate (A) of which more than 50% of the voting investment shares are beneficially owned or over which control or direction is exercised by a resident of Canada, (B) a majority of the directors of which are residents of Canada, or (C) that is a subsidiary or a wholly owned subsidiary of a body corporate described in clause (A) or (B), if the principal reason for the residence of the employee outside Canada is to act as such an employee, (iii) is a full-time student at a university or other educational institution recognized by the educational authorities of a majority of the provinces and who has been resident outside Canada less than 10 consecutive years, (iv) is a full-time employee of an international association or organization of which Canada is a member, or (v) was, on the date of their 60th birthday, ordinarily resident in Canada and has been resident outside Canada less than 10 consecutive years; or (c) is a permanent resident within the meaning of the Immigration and Refugee Protection Act and ordinarily resident in Canada, except a permanent resident who has been ordinarily resident in Canada for more than one year after the time when he or she first became eligible to apply for Canadian citizenship. ( résident canadien ) voting investment share means an investment share that is subject to a constraint referred to in paragraph (a) or (b) of the definition constraint and that carries voting rights under all circumstances or by reason of the occurrence of an event that has occurred and that is continuing, and includes a security currently convertible into such an investment share and a currently exercisable option or right to acquire the investment share or the convertible security. ( part de placement conférant un droit de vote ) 2001, c. 27, s. 273
Canada Cooperatives Regulations — (a)
Canadian means (a) a resident of Canada; (b) a partnership of which a majority of the members are resident in Canada and in which interests representing in value more than 50% of the total value of the partnership property are owned by residents of Canada; (c) a trust established by a resident of Canada (i) a majority of the trustees of which are resident in Canada, or (ii) in which beneficial interests representing in value more than 50% of the total value of the trust property are owned by residents of Canada; (d) Her Majesty in right of Canada or of a province or a municipal corporation or public board or commission in Canada; or (e) a body corporate (i) incorporated under the laws of Canada or a province, (ii) of which a majority of the directors are residents in Canada, and (iii) over which persons described in any of paragraphs (a) to (d) or in this paragraph exercise control or direction or of which the persons beneficially own investment shares or securities currently convertible into investment shares carrying more than 50% of the voting rights under all circumstances or by reason of the occurrence of an event that has occurred and that is continuing, including currently exercisable options or rights to acquire the investment shares or convertible securities. ( canadien )
Canada Cooperatives Regulations — Canada Cooperatives Regulations
constrained class means the class of persons specified in the articles of a constrained share cooperative as being ineligible to hold, as a class, more than the maximum aggregate holdings. ( catégorie restreinte )
Canada Cooperatives Regulations — Canada Cooperatives Regulations
constrained share cooperative means a cooperative that has provisions in its articles imposing a constraint. ( coopérative à participation restreinte )
Canada Cooperatives Regulations — (a)
constraint means a restriction on (a) the issue or transfer of investment shares of any class or series to persons who are not residents of Canada; (b) the issue or transfer of investment shares of any class or series to enable a cooperative or any of its affiliates or associates to qualify under the laws of Canada or a province referred to in paragraph 53(1)(a) (i) to obtain a licence to carry on any business, (ii) to become a publisher of a Canadian newspaper or periodical, or (iii) to acquire investment shares of a financial intermediary as defined in paragraph 53(1)(b); or (c) the issue, transfer or ownership of investment shares of any class or series in order to assist a cooperative or any of its affiliates or associates to qualify under the laws of Canada referred to in subsection 53(2) to receive licences, permits, grants, payments or other benefits by reason of attaining or maintaining a specified level of Canadian ownership or control. ( restriction )
Canada Cooperatives Regulations — Canada Cooperatives Regulations
control means control in any manner that results in control in fact, whether directly through the ownership of investment shares or indirectly through a trust, a contract, the ownership of investment shares of any other body corporate or otherwise. ( contrôle )
Canada Cooperatives Regulations — Canada Cooperatives Regulations
maximum aggregate holdings means the total number of voting investment shares of a constrained share cooperative that may be held by or on behalf of persons in the constrained class and their associates in accordance with the articles of the cooperative. ( avoir maximum total )
Canada Cooperatives Regulations — Canada Cooperatives Regulations
maximum individual holdings means the total number of voting investment shares of a constrained share cooperative that may be held by or on behalf of any one person in the constrained class and the person’s associates in accordance with the articles of the cooperative. ( avoir maximum individuel )
Canada Cooperatives Regulations — (a)
resident of Canada means an individual who (a) is a citizen of Canada, as determined in accordance with the Citizenship Act , and who is ordinarily resident in Canada; (b) a citizen of Canada, as determined in accordance with the Citizenship Act , who is not ordinarily resident in Canada and who (i) is a full-time employee of the Government of Canada or a province, of an agency of any such government or of a federal or provincial crown corporation, (ii) is a full-time employee of a body corporate (A) of which more than 50% of the voting investment shares are beneficially owned or over which control or direction is exercised by a resident of Canada, (B) a majority of the directors of which are residents of Canada, or (C) that is a subsidiary or a wholly owned subsidiary of a body corporate described in clause (A) or (B), if the principal reason for the residence of the employee outside Canada is to act as such an employee, (iii) is a full-time student at a university or other educational institution recognized by the educational authorities of a majority of the provinces and who has been resident outside Canada less than 10 consecutive years, (iv) is a full-time employee of an international association or organization of which Canada is a member, or (v) was, on the date of their 60th birthday, ordinarily resident in Canada and has been resident outside Canada less than 10 consecutive years; or (c) is a permanent resident within the meaning of the Immigration and Refugee Protection Act and ordinarily resident in Canada, except a permanent resident who has been ordinarily resident in Canada for more than one year after the time when he or she first became eligible to apply for Canadian citizenship. ( résident canadien )
Canada Cooperatives Regulations — Canada Cooperatives Regulations
voting investment share means an investment share that is subject to a constraint referred to in paragraph (a) or (b) of the definition constraint and that carries voting rights under all circumstances or by reason of the occurrence of an event that has occurred and that is continuing, and includes a security currently convertible into such an investment share and a currently exercisable option or right to acquire the investment share or the convertible security. ( part de placement conférant un droit de vote )
Canada Cooperatives Regulations — 40
40 Each of the following documents issued or published by a constrained share cooperative shall indicate conspicuously the general nature of its constrained investment share provisions: (a) a certificate evidencing a voting investment share; (b) a management proxy circular; and (c) a prospectus, statement of material facts, registration statement or similar document.
Canada Cooperatives Regulations — 41
41 (1) The directors of a constrained share cooperative that has provisions in its articles imposing a constraint referred to in paragraph (a) or (b) of the definition constraint in section 39 shall refuse to register a transfer of a voting investment share of the cooperative in accordance with the articles if (a) the total number of voting investment shares held by or on behalf of persons in the constrained class exceeds the maximum aggregate holdings and the transfer is to a person in the constrained class; (b) the total number of voting investment shares held by or on behalf of persons in the constrained class does not exceed the maximum aggregate holdings and the transfer would cause the number of the investment shares held by persons in the constrained class to exceed the maximum aggregate holdings; (c) the total number of voting investment shares held by or on behalf of a person in the constrained class exceeds the maximum individual holdings and the transfer is to that person; or (d) the total number of voting investment shares held by or on behalf of a person in the constrained class does not exceed the maximum individual holdings and the transfer would cause the number of the investment shares held by that person to exceed the maximum individual holdings. (2) Despite subsection (1), the directors of a constrained share cooperative that is described in that subsection shall register a transfer of a voting investment share of the cooperative to a person in the constrained class if the person establishes that the person was the beneficial owner of that investment share on the day on which the cooperative became a constrained share cooperative. (3) The directors of a constrained share cooperative that is referred to in subsection (1) shall refuse to issue a voting investment share of the cooperative to a person in the constrained class in circumstances in which the directors are required to refuse to register a transfer of the investment share by that subsection. (4) For the purpose of subsection (3), the directors may count as issued investment shares the voting investment shares that it is currently offering to its shareholders or prospective shareholders.
Canada Cooperatives Regulations — 42
42 The directors of a constrained share cooperative that has provisions in its articles imposing a constraint referred to in paragraph (c) of the definition constraint in section 39 shall refuse (a) to issue an investment share of the cooperative to a person (i) whose ownership of the share would be contrary to the constraint, (ii) who, in respect of the issue of the share, has been requested by the cooperative to furnish it with information referred to in subsection 46(7) and has not furnished the information, or (iii) whose ownership of the share the directors have determined, on the basis of information furnished to the cooperative by that person under a request referred to in subparagraph (ii), may be contrary to the constraint; and (b) to register a transfer of a share of the cooperative if the transfer is to a person (i) whose ownership of the share is contrary to the constraint, (ii) who, in respect of the registration of the share, has been requested by the cooperative to furnish it with information referred to in subsection 46(7) and has not furnished the information, or (iii) whose ownership of the share the directors have determined, on the basis of information furnished to the cooperative by that person under a request referred to in subparagraph (ii), may be contrary to the constraint.
Canada Cooperatives Regulations — 43
43 Sections 44 and 45 apply to a constrained share cooperative that has provisions in its articles imposing a constraint referred to in paragraph (a) or (b) of the definition constraint in section 39.
Canada Cooperatives Regulations — 44
44 (1) If, on the day on which a cooperative becomes a constrained share cooperative, the total number of voting investment shares of the cooperative held by or on behalf of a person in the constrained class exceeds the maximum individual holdings, the person or the person’s nominee may, in person or by proxy, only exercise the voting rights attached to the maximum individual holdings held on that day or on any subsequent day. (2) After the total number of investment shares held by or on behalf of the person referred to in subsection (1) is reduced below the maximum individual holdings, the person or the person’s nominee may, in person or by proxy, exercise the voting rights attached to investment shares held.
Canada Cooperatives Regulations — 45
45 (1) Except as provided in subsection 44(1), if the total number of voting investment shares of a constrained share cooperative held by or on behalf of a person in the constrained class exceeds the maximum individual holdings, no person may, in person or by proxy, exercise the voting rights attached to those investment shares. (2) If it appears from the investment share register of a constrained share cooperative that the total number of voting investment shares held by a shareholder is less than the maximum individual holdings, a proxyholder for the shareholder may vote those investment shares unless the proxyholder has knowledge that the investment shares beneficially owned by the shareholder exceed the maximum individual holdings. (3) If, after the day on which a cooperative becomes a constrained share cooperative, a cooperative or trust that was not a person in the constrained class becomes a person in the constrained class, the cooperative or trust shall not exercise the voting rights attached to any investment shares it holds in the constrained share cooperative while it is a person in the constrained class.
Canada Cooperatives Regulations — 46
securities register of the cooperative as the holder of the investment shares; (g) a statement advising that, unless the person shown in the securities register of the cooperative as the holder of the investment shares receives a notice referred to in paragraph (f), that person and all other interested persons should not assume (i) that the cooperative has changed its conclusion that the investment shares are owned, or the directors of the cooperative have changed their determination that the investment shares may be owned, contrary to a constraint referred to in paragraph (c) of the definition constraint in section 39, (ii) that there has been a change in the reason for the conclusion or determination, or (iii) that the cooperative no longer intends to sell the investment shares under subsection 131(1) of the Act; (h) a statement indicating that no investment share in respect of which the notice is sent may be sold under subsection 131(1) of the Act if a transfer of the share is registered in the securities register of the cooperative after the notice referred to in subsection (1) was sent unless the cooperative again complies with the requirements set out in this Part respecting the sale of the share; (i) a statement indicating that no investment share in respect of which the notice is sent may be sold under subsection 131(1) of the Act unless not less than 60 days but not more than 150 days have elapsed from the day on which the notice was sent to the holder of the share; and (j) a statement indicating each of the matters referred to in paragraphs (5)(h) to (k). (7) The notice referred to in subsection (1) shall be accompanied by a request for information as to whether or not the investment shares are owned contrary to a constraint referred to in paragraph (c) of the definition constraint in section 39. (8) The notice referred to in subsection (3) shall be accompanied by a request for information referred to in subsection (7), unless the cooperative has received the requested information before the notice is sent. (9) A request for information referred to in subsection (7) shall be accompanied by instructions for the furnishing of the information. SOR/2010-128, s. 44
Canada Cooperatives Regulations — 47
47 (1) If a constrained share cooperative has sent a further written notice referred to in subsection 46(3) and has not sold, under subsection 131(1) of the Act, any share in respect of which the notice was sent, and if the cooperative changes its conclusion referred to in paragraph 46(3)(a) or its directors change their determination referred to in paragraph 46(3)(b) or if there is a change in the reason for the conclusion or determination, the cooperative shall immediately send by registered mail to the recipient of that notice, a notice of the change to the conclusion, to the determination or to the reason for the conclusion or determination, including the reason for the change. (2) When a cooperative sends a notice under subsection (1), the cooperative shall, at the time the notice is sent, enter or cause to be entered in the securities register of the cooperative the particulars of the notice, including the date on which it was sent. SOR/2001-513, s. 17
Canada Cooperatives Regulations — 48
48 (1) No investment share shall be sold by a constrained share cooperative under subsection 131(1) of the Act unless (a) the cooperative has sent the notices referred to in subsections 46(1) and (3) to the person shown in the securities register of the cooperative as the holder of the investment share; (b) not less than 150 days but not more than 300 days have elapsed from the day on which the notice referred to in subsection 46(1) was sent to the holder of the investment share; (c) not less than 60 days but not more than 150 days have elapsed from the day on which the notice referred to in subsection 46(3) was sent to the holder of the investment share; (d) the cooperative has concluded that the investment share is owned, or the directors of the cooperative have determined that the investment share may be owned, contrary to a constraint referred to in paragraph (c) of the definition constraint in section 39 and, at the time of sale, the cooperative has no reasonable grounds on which to change its conclusion or the directors of the cooperative have no reasonable grounds on which to change their determination, as the case may be; (e) the sale takes place (i) on a stock exchange on which investment shares of the cooperative are listed and posted for trading, or (ii) if investment shares of the cooperative are not listed and posted for trading on any stock exchange, in such a way as to obtain the best sale price available in the circumstances at the time of sale; and (f) the cooperative sells the investment share with a view to obtaining the best sale price available in the circumstances at the time of sale. (2) No investment share in respect of which a notice is sent in accordance with subsection 46(1) shall be sold by a constrained share cooperative under subsection 131(1) of the Act if a transfer of the share is registered in the securities register of the cooperative after the notice was sent, unless the cooperative again complies with the requirements set out in this Part respecting the sale of the share.
Canada Cooperatives Regulations — 49
49 (1) Immediately on a sale of investment shares by a constrained share cooperative under subsection 131(1) of the Act, the cooperative shall (a) register the transfer or a notice of the sale of the shares or cause the transfer or a notice of the sale of the shares to be registered in the securities register of the cooperative; and (b) send a notice of the sale to the person shown in the securities register of the cooperative as the holder of the shares at the time of the sale. (2) The notice referred to in paragraph (1)(b) shall (a) state the number of investment shares sold; (b) identify the certificate evidencing the investment shares sold, by certificate number or otherwise; (c) state the date and manner of sale; (d) state the manner in which the person entitled to receive the net proceeds of the sale under subsection 131(1) of the Act may obtain the proceeds; (e) state that the cooperative has concluded that the investment shares were owned, or that the directors determined that the investment shares may be owned, contrary to a constraint referred to in paragraph (c) of the definition constraint in section 39 and state the reason why the cooperative so concluded or the directors so determined, as the case may be; and (f) contain a statement, if not all of the investment shares of the holder evidenced by a certificate were sold, that not all of the shares were sold and that a certificate evidencing the investment shares that were not sold will be issued on surrender for cancellation of the certificate evidencing the investment shares sold.
Canada Cooperatives Regulations — 50
50 The proceeds of a sale by a constrained share cooperative under subsection 131(1) of the Act must be invested in an interest bearing account in a body corporate any of whose deposits are insured by the Canada Deposit Insurance Corporation or guaranteed by the Quebec Deposit Insurance Board or by any other similar entity created by the laws of another province.
Canada Cooperatives Regulations — 51
51 Section 52 applies to a constrained share cooperative that has provisions in its articles imposing a constraint referred to in paragraph (a) or (b) of the definition constraint in section 39.