GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Canada–Hong Kong Tax Agreement Act, 2013 — C-6.15 1
1 This Agreement shall remain in force until terminated by a Party. Either Party may terminate this Agreement by giving the other Party written notice of termination at least six months before the end of any calendar year. A notice of termination given less than six months before the end of a calendar year shall be deemed to have been given in the first six months of the next calendar year. In such event, this Agreement shall cease to have effect: (a) in the Hong Kong Special Administrative Region, in respect of Hong Kong Special Administrative Region tax, for any year of assessment beginning on or after the first day of April in the calendar year next following that in which the notice is given; (b) in Canada: (i) in respect of tax withheld at the source on amounts paid or credited to non-residents, after the end of that calendar year, and (ii) in respect of other Canadian tax, for taxation years beginning after the end of that calendar year. 2 This Agreement shall terminate on the last date on which it has effect in accordance with paragraph 1, unless the Parties agree otherwise.
Canada–Hong Kong Tax Agreement Act, 2013 — C-6.15 (a)
(a) in the Hong Kong Special Administrative Region, in respect of Hong Kong Special Administrative Region tax, for any year of assessment beginning on or after the first day of April in the calendar year next following that in which the notice is given;
Canada–Hong Kong Tax Agreement Act, 2013 — C-6.15 (b)
(b) in Canada: (i) in respect of tax withheld at the source on amounts paid or credited to non-residents, after the end of that calendar year, and (ii) in respect of other Canadian tax, for taxation years beginning after the end of that calendar year.
Canada–Hong Kong Tax Agreement Act, 2013 — C-6.15 (i)
(i) in respect of tax withheld at the source on amounts paid or credited to non-residents, after the end of that calendar year, and
Canada–Hong Kong Tax Agreement Act, 2013 — C-6.15 (ii)
(ii) in respect of other Canadian tax, for taxation years beginning after the end of that calendar year.
Canada–Hong Kong Tax Agreement Act, 2013 — C-6.15 2
2 This Agreement shall terminate on the last date on which it has effect in accordance with paragraph 1, unless the Parties agree otherwise.
Canada–Hong Kong Tax Agreement Act, 2013 — C-6.15
IN WITNESS WHEREOF the undersigned, duly authorized to that effect, have signed this Agreement.
Canada–Hong Kong Tax Agreement Act, 2013 — C-6.15
DONE in duplicate at Hong Kong, this 11th day of November 2012, in the English, French and Chinese languages, each version being equally authentic.
Canada–Hong Kong Tax Agreement Act, 2013 — C-6.15
At the time of signing the Agreement between the Government of Canada and the Government of the Hong Kong Special Administrative Region of the People’s Republic of China for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (the Agreement ), the two Governments have agreed upon the following provisions which shall form an integral part of the Agreement:
Canada–Hong Kong Tax Agreement Act, 2013 — C-6.15 1
1 For purposes of the Agreement, it is understood that the term “right of abode” in relation to the Hong Kong Special Administrative Region has the meaning it has under the Immigration Ordinance applicable to the Hong Kong Special Administrative Region, as amended from time to time without affecting the general principle thereof.
Canada–Hong Kong Tax Agreement Act, 2013 — C-6.15 2
2 It is understood that the terms “Hong Kong Special Administrative Region tax” and “Canadian tax” do not include any penalty or interest (including, in the case of the Hong Kong Special Administrative Region, any sum added to the Hong Kong Special Administrative Region tax by reason of default and recovered therewith and “additional tax” under Section 82A of the Inland Revenue Ordinance ) imposed under the laws of either Party relating to the taxes to which the Agreement applies by virtue of Article 2 (Taxes Covered).
Canada–Hong Kong Tax Agreement Act, 2013 — C-6.15 3
3 It is understood that the term “earnings” in paragraph 6 of Article 10 (Dividends) does not include business profits attributable to a permanent establishment in a Party or income from the trading of immoveable property in a Party that have been re-invested in that Party as determined in accordance with the law of that Party.
Canada–Hong Kong Tax Agreement Act, 2013 — C-6.15 4
4 For the purposes of Article 24 (Exchange of Information), it is understood that: (a) the Article does not require the Parties to exchange information on an automatic or a spontaneous basis; (b) information exchanged shall not be disclosed to any third jurisdiction for any purpose; and (c) a Party may only request information relating to taxable periods for which the Agreement has effect for that Party.
Canada–Hong Kong Tax Agreement Act, 2013 — C-6.15 (a)
(a) the Article does not require the Parties to exchange information on an automatic or a spontaneous basis;
Canada–Hong Kong Tax Agreement Act, 2013 — C-6.15 (b)
(b) information exchanged shall not be disclosed to any third jurisdiction for any purpose; and
Canada–Hong Kong Tax Agreement Act, 2013 — C-6.15 (c)
(c) a Party may only request information relating to taxable periods for which the Agreement has effect for that Party.
Canada–Hong Kong Tax Agreement Act, 2013 — C-6.15
IN WITNESS WHEREOF the undersigned, duly authorized to that effect, have signed this Protocol.
Canada Infrastructure Bank Act — C-6.18 1
Short title 1 This Act may be cited as the Canada Infrastructure Bank Act .
Canada Infrastructure Bank Act — C-6.18 2
Definitions 2 The following definitions apply in this Act. Bank means the Canada Infrastructure Bank established by subsection 5 (1). ( Banque ) Board means the board of directors of the Bank. ( conseil ) Chairperson means the Chairperson of the Board. ( président ) Chief Executive Officer means the chief executive officer of the Bank. ( premier dirigeant ) designated Minister means the member of the Queen’s Privy Council for Canada who is designated as the Minister under section 3 . ( ministre désigné ) director means a member of the Board. ( administrateur ) infrastructure projects means projects described in section 6 . ( projets d’infrastructures ) joint venture means an association of persons, when the relationship among those associated persons does not constitute a corporation, partnership or trust. ( coentreprise ) person includes a trust, a partnership, a joint venture and an association of natural persons or corporations. ( personne ) subsidiary means a subsidiary within the meaning of subsection 83(6) of the Financial Administration Act . ( filiale ) wholly-owned subsidiary has the same meaning as in subsection 83(1) of the Financial Administration Act . ( filiale à cent pour cent )
Canada Infrastructure Bank Act — C-6.18
Bank means the Canada Infrastructure Bank established by subsection 5 (1). ( Banque )
Canada Infrastructure Bank Act — C-6.18
Board means the board of directors of the Bank. ( conseil )
Canada Infrastructure Bank Act — C-6.18
Chairperson means the Chairperson of the Board. ( président )
Canada Infrastructure Bank Act — C-6.18
Chief Executive Officer means the chief executive officer of the Bank. ( premier dirigeant )
Canada Infrastructure Bank Act — C-6.18
designated Minister means the member of the Queen’s Privy Council for Canada who is designated as the Minister under section 3 . ( ministre désigné )
Canada Infrastructure Bank Act — C-6.18
director means a member of the Board. ( administrateur )
Canada Infrastructure Bank Act — C-6.18
infrastructure projects means projects described in section 6 . ( projets d’infrastructures )
Canada Infrastructure Bank Act — C-6.18
joint venture means an association of persons, when the relationship among those associated persons does not constitute a corporation, partnership or trust. ( coentreprise )
Canada Infrastructure Bank Act — C-6.18
person includes a trust, a partnership, a joint venture and an association of natural persons or corporations. ( personne )
Canada Infrastructure Bank Act — C-6.18
subsidiary means a subsidiary within the meaning of subsection 83(6) of the Financial Administration Act . ( filiale )
Canada Infrastructure Bank Act — C-6.18
wholly-owned subsidiary has the same meaning as in subsection 83(1) of the Financial Administration Act . ( filiale à cent pour cent )
Canada Infrastructure Bank Act — C-6.18 3
Designation of Minister 3 The Governor in Council may designate a member of the Queen’s Privy Council for Canada to be the Minister for the purposes of this Act.
Canada Infrastructure Bank Act — C-6.18 4
Appropriate Minister 4 The designated Minister is the appropriate Minister for the Bank for the purposes of Part X of the Financial Administration Act .
Canada Infrastructure Bank Act — C-6.18 5
Establishment 5 (1) A corporation is established to be known as the Canada Infrastructure Bank. Head office (2) The head office of the Bank is to be at a place in Canada that is designated by the Governor in Council. Capacity (3) The Bank has the capacity and, subject to the provisions of this Act and of the regulations, the rights, powers and privileges of a natural person. Not a Crown agent (4) The Bank is not an agent of Her Majesty in right of Canada, except when (a) giving advice about investments in infrastructure projects to ministers of Her Majesty in right of Canada, to departments, boards, commissions and agencies of the Government of Canada and to Crown corporations as defined in subsection 83(1) of the Financial Administration Act ; (b) collecting and disseminating data in accordance with paragraph 7(1)(g); (c) acting on behalf of the government of Canada in the provision of services or programs, and the delivery of financial assistance, specified in paragraph 18 (h); and (d) carrying out any activity conducive to the carrying out of its purpose that the Governor in Council may, by order, specify.
Canada Infrastructure Bank Act — C-6.18 6
Purpose of Bank 6 The purpose of the Bank is to invest, and seek to attract investment from private sector investors and institutional investors, in infrastructure projects in Canada or partly in Canada that will generate revenue and that will be in the public interest by, for example, supporting conditions that foster economic growth or by contributing to the sustainability of infrastructure in Canada.
Canada Infrastructure Bank Act — C-6.18 7
Functions of Bank 7 (1) In order to carry out its purpose, the Bank may do only the following: (a) structure proposals and negotiate agreements, with the proponents of infrastructure projects and with investors in infrastructure projects, with regard to the Government of Canada’s support of those projects; (b) invest in infrastructure projects, including by means of innovative financial tools, and seek to attract investment from private sector investors and institutional investors in infrastructure projects; (c) receive unsolicited proposals for infrastructure projects that come from private sector investors or from institutional investors; (d) support infrastructure projects by, among other things, fostering evidence-based decision making; (e) act as a centre of expertise on infrastructure projects in which private sector investors or institutional investors are making a significant investment; (f) provide advice to all levels of governments with regard to infrastructure projects; (g) collect and disseminate data, in collaboration with the federal, provincial and municipal governments, in order to monitor and assess the state of infrastructure in Canada and to better inform investment decisions in regards to infrastructure projects; and (h) perform any other function conducive to the carrying out of its purpose that the Governor in Council may, by order, specify. Cessation of order’s effect (2) An order made under paragraph (1)(h) ceases to have effect on the second anniversary of the day on which it is made.
Canada Infrastructure Bank Act — C-6.18 8
Membership of Board 8 (1) The Bank has a board of directors composed of the Chairperson and not fewer than eight, but not more than 11, other directors. Appointment of directors (2) Each director, other than the Chairperson, is to be appointed by the Governor in Council to hold office during pleasure for a term of not more than four years that will ensure, to the extent possible, the expiry in any one year of the terms of office of not more than one half of the directors. Appointment of Chairperson (3) The Chairperson is to be appointed by the Governor in Council to hold office during pleasure for a term that the Governor in Council considers appropriate. Committee to advise designated Minister (4) The designated Minister may establish a committee to provide him or her with advice on the appointment of directors. The committee is to include representation from the Board. Consultation (5) The designated Minister may undertake any other consultations as to the appointment of directors that he or she considers appropriate, including with the provinces. Termination of appointment (6) The Governor in Council may terminate the appointment of, or remove or suspend, any director. However, before terminating the appointment of or removing or suspending the Chairperson, the Governor in Council must consult with the Board. The Board may also, with the approval of the Governor in Council, terminate the appointment of or remove or suspend any director. Reappointment (7) A director is eligible for reappointment. Continuation in office (8) Despite subsection (2), if a director is not appointed to take office on the expiry of the term of an incumbent director, other than the Chairperson, the incumbent director continues in office until their successor is appointed. Absence or incapacity (9) If the Chairperson is absent or unable to act or the office of Chairperson is vacant, the Board may authorize one of the other directors to act as Chairperson, but that person is not authorized to act as Chairperson for a period of more than 180 days without the approval of the Governor in Council.
Canada Infrastructure Bank Act — C-6.18 9
Appointment of Chief Executive Officer 9 (1) A Chief Executive Officer is to be appointed by the Board to hold office during pleasure for a term to be fixed by the Board. The appointment and term of office are subject to the approval of the Governor in Council. Termination of appointment (2) The Governor in Council may, after consulting with the Board, terminate the appointment of or remove or suspend the Chief Executive Officer. The Board may also, with the approval of the Governor in Council, terminate the appointment of or remove or suspend the Chief Executive Officer. Full-time office (3) The Chief Executive Officer must carry out the duties and functions of his or her office on a full-time basis. Absence or incapacity (4) If the Chief Executive Officer is absent or unable to act or the office of Chief Executive Officer is vacant, the designated Minister may appoint a person to act as Chief Executive Officer. Attendance at Board meetings (5) Subject to any by-law of the Board, the Chief Executive Officer may attend meetings of the Board or any committee of the Board.
Canada Infrastructure Bank Act — C-6.18 10
Ineligibility for appointment 10 An individual is not eligible to be appointed as the Chief Executive Officer, the Chairperson or a director if the individual (a) is less than 18 years of age; (b) has the status of bankrupt; (c) is employed in the federal public administration or by a provincial, municipal or local authority; or (d) is a member of the Senate or House of Commons or a member of the legislature of a province.
Canada Infrastructure Bank Act — C-6.18 11
No overlapping offices 11 An individual is not entitled to hold the offices of Chairperson and Chief Executive Officer at the same time.
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Remuneration 12 (1) The Chief Executive Officer, the Chairperson and each of the other directors are to be paid by the Bank remuneration for their services in respect of that office. Rate of remuneration — directors (2) The rate of any remuneration paid to the Chairperson and the other directors is to be fixed by the Governor in Council. Rate of remuneration — Chief Executive Officer (3) The rate of any remuneration paid to the Chief Executive Officer is to be fixed by the Governor in Council on the recommendation of the Board. In making its recommendation, the Board is to take into account the skills required for the position and the remuneration paid to persons in comparable positions.
Canada Infrastructure Bank Act — C-6.18 13
Expenses of directors 13 (1) Each director is to be paid by the Bank reasonable travel and living expenses incurred in connection with their services in respect of that office while absent from their ordinary place of residence. Expenses of Chief Executive Officer (2) The Chief Executive Officer is to be paid by the Bank reasonable travel and living expenses incurred in connection with his or her services in respect of that office while absent from his or her ordinary place of work.
Canada Infrastructure Bank Act — C-6.18 14
Accident compensation 14 The directors and the officers and the employees of the Bank are deemed to be employees for the purposes of the Government Employees Compensation Act and to be employed in the federal public administration for the purposes of any regulations made under section 9 of the Aeronautics Act .
Canada Infrastructure Bank Act — C-6.18 15
Committees of Board 15 (1) The Board may establish any committee of the Board that it considers advisable and may determine the committee’s composition and duties and the tenure of its members. Delegation of powers (2) The Board may delegate powers to any of its committees to act in all matters that are not by this Act or any by-law or resolution specifically reserved to the Board.
Canada Infrastructure Bank Act — C-6.18 16
Corporate plans 16 The Bank must annually submit a corporate plan to the designated Minister, who may, with the concurrence of the Minister of Finance, recommend it for the approval of the Governor in Council.
Canada Infrastructure Bank Act — C-6.18 17
Operating budgets 17 (1) The Bank must annually submit an operating budget for its next financial year to the designated Minister, who may, with the concurrence of the Minister of Finance, recommend it for the approval of the Treasury Board. Capital budgets (2) The Bank must annually submit a capital budget for its next financial year to the designated Minister, who may, with the concurrence of the Minister of Finance, recommend it for the approval of the Treasury Board.
Canada Infrastructure Bank Act — C-6.18 18
Investments, etc. 18 In particular, the Bank may (a) make investments in any person, including by way of equity investment in, or by making a loan to or acquiring a derivative from, the person; (b) extend credit or provide liquidity to, or in relation to, any person; (c) acquire and deal with as its own any investment made by another person; (d) acquire and hold security or a security interest, including, in Quebec, a right in a security, of any kind and in any form for the due discharge of obligations under an investment or agreement that it makes; (e) surrender the security, security interest or right in the security and acquire and hold, in exchange, security or a security interest, including, in Quebec, a right in a security, of any kind and in any form; (f) realize the security, security interest or right in the security made, acquired or held by it on the investment or agreement; (g) exchange, sell, assign, convey or otherwise dispose of, or lease, the investment, agreement, security, security interest or right in a security; (h) enter into arrangements or agreements with, and act as agent or mandatary for, any department or agency of the government of Canada or a province, or any other body or person, for the provision of services or programs to, by, on behalf of or jointly with that body or person, and deliver financial assistance on their behalf under the arrangement or agreement; (i) accept any interest or rights in real property or personal property or any rights in immovables or movables as security for the due performance of any arrangement or agreement with the Bank; (j) determine and charge interest and any other form of compensation for services provided by the Bank in the exercise of its powers or the performance of its functions under this Act; (k) acquire and dispose of any interest or right in any entity by any means; and (l) acquire, hold, exchange, sell or otherwise dispose of, or lease, any interest or rights in real property or personal property or any right in immovables or movables and retain and use the proceeds of disposition.
Canada Infrastructure Bank Act — C-6.18 19
Loan guarantees — limitation 19 (1) The Bank may provide loan guarantees only in accordance with this section. Recommendation (2) The Bank may recommend to the designated Minister that the Minister of Finance approve a loan guarantee with respect to an infrastructure project. If the designated Minister concurs with the recommendation, he or she is to recommend to the Minister of Finance that the Minister of Finance approve the loan guarantee. Power to provide (3) The Bank may provide a loan guarantee with respect to an infrastructure project only if the Minister of Finance approves the loan guarantee.
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Non-application of provision 20 Section 91 of the Financial Administration Act does not apply to or in respect of the Bank or a wholly-owned subsidiary of the Bank.
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Subsidiaries — Ministerial authorization 21 The Bank or a wholly-owned subsidiary of the Bank may procure the incorporation, dissolution or amalgamation of its subsidiaries, and acquire or dispose of any shares in its subsidiaries, only with the concurrence of the designated Minister.
Canada Infrastructure Bank Act — C-6.18 22
Recommendation for loan or loan guarantee 22 (1) The Bank may recommend to the designated Minister that the Minister of Finance make a loan or provide a loan guarantee with respect to an infrastructure project. If the designated Minister concurs with the recommendation, he or she is to recommend to the Minister of Finance that the Minister of Finance make the loan or provide the loan guarantee. Power to make loan or provide loan guarantee (2) The Minister of Finance, on the recommendation of the designated Minister, may make a loan or provide a loan guarantee with respect to the infrastructure project.
Canada Infrastructure Bank Act — C-6.18 23
Capital payments 23 The Minister of Finance may pay to the Bank, out of the Consolidated Revenue Fund, amounts of not more than $45,000,000,000 in the aggregate, or any greater aggregate amount that may be authorized from time to time under an appropriation Act. 2017, c. 20, s. 403 “23” 2026, c. 3, s. 202
Canada Infrastructure Bank Act — C-6.18 24
Loans to the Bank 24 At the request of the Bank, the Minister of Finance may lend money to the Bank, on the recommendation of the designated Minister, out of the Consolidated Revenue Fund, on any terms and conditions that the Minister of Finance may fix.
Canada Infrastructure Bank Act — C-6.18 25
Capital and shares 25 (1) The capital of the Bank is $100, divided into 10 shares having a par value of $10 each. The shares are to be issued to the designated Minister to be held on behalf of Her Majesty in right of Canada. Registration (2) The shares issued to the designated Minister are to be registered by the Bank in the name of the designated Minister.
Canada Infrastructure Bank Act — C-6.18 26
Financial year 26 The financial year of the Bank is the period of 12 months beginning on April 1 and ending on the next March 31, unless the Governor in Council directs otherwise.