GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Cooperative Credit Associations Act — C-41.01 245
Retroactivity — section 435.2 of Cooperative Credit Associations Act 245 Section 435.2 of the Cooperative Credit Associations Act applies to information referred to in that section that has been used or in relation to which oral testimony has been given or a document has been produced, before the day on which this Division comes into force, in any civil proceedings in respect of which a final decision has not been made before that day.
Cooperative Credit Associations Act — C-41.01 252
Regulations apply — section 435.2 of Cooperative Credit Associations Act 252 The regulations made under paragraph 463(1)(a) of the Cooperative Credit Associations Act that prescribe supervisory information for the purposes of section 435.1 of that Act apply for the purposes of section 435.2 of that Act until regulations made under that paragraph for the purposes of that section 435.2 are in force.
Cooperative Energy Act — C-41.5
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
Cooperative Energy Act — C-41.5 1
Short title 1 This Act may be cited as the Cooperative Energy Act .
Cooperative Energy Act — C-41.5
Agreement means the Canada/Cooperative Energy Investment Agreement entered into between certain cooperatives and Her Majesty The Queen in right of Canada, represented by the Minister, bearing the formal date of the 18th day of December, 1981, tabled in the House of Commons on May 17, 1982 as Sessional Paper No. 321 — 7/53 and all amendments thereto made from time to time that are not inconsistent with the purpose, intent and objectives set out therein; ( Entente )
Cooperative Energy Act — C-41.5
central cooperative credit society means a cooperative organization incorporated or organized by or pursuant to an Act of Parliament or of the legislature of a province, the membership or shareholders of which consist wholly or substantially of local cooperative credit societies and the principal purpose of which is to provide services to its members or shareholders; ( société coopérative de crédit centrale )
Cooperative Energy Act — C-41.5 (a)
cooperative means (a) any organization incorporated, continued or organized by or pursuant to an Act of Parliament or of the legislature of a province as a cooperative or a cooperative society, association or federation, including, without limiting the generality of the foregoing, (i) a wheat pool, a grain trading cooperative or an agricultural product trading cooperative, and (ii) a local cooperative credit society, central cooperative credit society or federation of cooperative credit societies, (b) a financial service corporation or an insurance corporation, incorporated by or pursuant to an Act of Parliament or of the legislature of a province, the principal purpose of which is to provide financial services to, or to insure, cooperatives and members of cooperatives, and (c) any corporation, incorporated by or pursuant to an Act of Parliament or of the legislature of a province, all of the issued shares of which, other than the minimum number of shares of the corporation, if any, that are required to be held by directors thereof, are owned by cooperatives; ( coopérative )
Cooperative Energy Act — C-41.5
Corporation means the corporation incorporated by Part I; ( Société )
Cooperative Energy Act — C-41.5
Development Corporation means the corporation incorporated by Part II; ( Société de développement )
Cooperative Energy Act — C-41.5
Director has the same meaning as in the Canada Business Corporations Act ; ( Directeur )
Cooperative Energy Act — C-41.5
Equity Debenture means a debenture of the Corporation, described on its face as an Equity Debenture , issued, pursuant to the Agreement, to Her Majesty in right of Canada as represented by the Minister or to a cooperative; ( débenture à participation )
Cooperative Energy Act — C-41.5
federation of cooperative credit societies means a federation, league or corporation incorporated or organized by or pursuant to an Act of Parliament or of the legislature of a province, the membership or the shareholders of which include two or more central cooperative credit societies; ( fédération de sociétés coopératives de crédit )
Cooperative Energy Act — C-41.5
local cooperative credit society means a cooperative organization incorporated or organized by or pursuant to an Act of Parliament or of the legislature of a province, the membership or the shareholders of which consist wholly or substantially of natural persons and the principal purpose of which is to receive deposits from its members or shareholders and make loans to its members or shareholders; ( société coopérative de crédit locale )
Cooperative Energy Act — C-41.5
Minister means the Minister of Natural Resources. ( Ministre )
Cooperative Energy Act — C-41.5 3
Cooperative Energy Corporation incorporated 3 (1) A corporation is hereby incorporated, to be known as the “Cooperative Energy Corporation” in English and “ Société coopérative de l’énergie ” in French. Dissolution of Corporation (2) The Corporation may be dissolved under the Canada Business Corporations Act .
Cooperative Energy Act — C-41.5 4
Express authorization to use word “cooperative” 4 (1) The Corporation may use the words “cooperative” and “co-op” or either of them or any abbreviation or derivation of either of them as part of its corporate name or in any other manner in connection with the conduct of its business during such period of time as there are no holders of any class of shares of the Corporation, other than (a) cooperatives; or (b) cooperatives and Her Majesty in right of Canada as represented by the Minister. Authorization to use word “ Société ” (2) The word “ Société ” or the abbreviation “S.” may be part of the name of the Corporation in its French form instead of any other word or abbreviation mentioned in subsection 10(1) of the Canada Business Corporations Act .
Cooperative Energy Act — C-41.5 5
Capitalization 5 The classes of shares that the Corporation is authorized to issue and the rights, privileges, restrictions and conditions attaching to each such class of shares are set out in the schedule.
Cooperative Energy Act — C-41.5 6
Partly paid shares permitted 6 Shares of a class of the Corporation may be issued as partly paid or with no payment having been made thereon, on the terms of payment determined by the directors of the Corporation, if the rights, privileges, restrictions and conditions attaching to the shares of that class so provide.
Cooperative Energy Act — C-41.5 7
First directors 7 (1) The first directors of the Corporation shall be such persons as may be appointed by the Governor in Council. Idem (2) Each director appointed pursuant to subsection (1) holds office until the first meeting of shareholders of the Corporation.
Cooperative Energy Act — C-41.5 8
Application of Canada Business Corporations Act 8 (1) Except where inconsistent with this Act, the Canada Business Corporations Act and any regulations made thereunder apply to the Corporation, with such modifications as the circumstances require, as if it were a corporation incorporated under that Act. Articles of incorporation (2) Where a provision of the Canada Business Corporations Act or any other Act of Parliament or any Act of the legislature of a province or any regulation made under any such Act that applies in respect of the Corporation makes reference or has application to articles of incorporation, the provision shall be construed in relation to the Corporation as a reference to the schedule. Agreement is unanimous shareholder agreement (3) In the application of this Act and the Canada Business Corporations Act and any regulations made thereunder to the Corporation, the Agreement is deemed to be a unanimous shareholder agreement within the meaning of the Canada Business Corporations Act .
Cooperative Energy Act — C-41.5 9
Issue of certain certificates conditional on Act of Parliament 9 No certificate of amendment, restated certificate of incorporation or certificate of amalgamation, in relation to the Corporation, shall be issued by the Director pursuant to the Canada Business Corporations Act , unless an Act of Parliament expressly authorizes the Director to issue the certificate.
Cooperative Energy Act — C-41.5 11
Not agent of Her Majesty 11 The Corporation is not an agent of Her Majesty, or a Crown Corporation within the meaning of the Financial Administration Act , and its officers and employees are not part of the federal public administration. 1980-81-82-83, c. 108, s. 11; 2003, c. 22, s. 152
Cooperative Energy Act — C-41.5 12
Cooperative Energy Development Corporation incorporated 12 (1) A corporation is hereby incorporated, to be known as the “Cooperative Energy Development Corporation” in English and “ Société coopérative de développement énergétique ” in French. Dissolution of Development Corporation (2) The Development Corporation may be dissolved under the Canada Business Corporations Act .
Cooperative Energy Act — C-41.5 13
Express authorization to use word “cooperative” 13 (1) The Development Corporation may use the words “cooperative” and “co-op” or either of them or any abbreviation or derivation of either of them as part of its corporate name or in any other manner in connection with the conduct of its business during such period of time as the Corporation is (a) authorized pursuant to this Act to use those words as part of its corporate name; and (b) the sole holder of all of the issued and outstanding shares of the Development Corporation of the class referred to in subparagraph 14(4)(b)(i). Authorization to use the word “ Société ” (2) The word “ Société ” or the abbreviation “S.” may be part of the name of the Development Corporation in its French form instead of any other word or abbreviation mentioned in subsection 10(1) of the Canada Business Corporations Act .
Cooperative Energy Act — C-41.5 Filing of articles of incorporation
Filing of articles of incorporation * 14 (1) Any two of the first directors of the Corporation shall, within one hundred and eighty days after this Part comes into force, sign and send to the Director, in respect of the Development Corporation, articles of incorporation in accordance with subsection (4) and section 6 of the Canada Business Corporations Act . * [Note: Part II in force July 9, 1982, see SI/82-148.] Effect of articles of incorporation (2) On receipt of articles of incorporation, the Director shall not issue a certificate of incorporation and sections 8 and 9 of the Canada Business Corporations Act do not apply to the Development Corporation. Idem * (3) Where articles of incorporation are sent to the Director pursuant to subsection (1) within the period of time set out therein, the articles shall have effect from the date this Part comes into force. * [Note: Part II in force July 9, 1982, see SI/82-148.] Mandatory rights, privileges, restrictions and conditions (4) The articles of incorporation in relation to the Development Corporation that are sent to the Director pursuant to subsection (1) shall, in respect of the classes of shares that the Development Corporation is authorized to issue, (a) provide for the restrictions that are permitted under paragraphs 15(1)(a) and (b); and (b) provide (i) that one of the classes of shares shall not be issued to, transferred to or registered on the books of the Development Corporation in the name of, or owned or held legally or beneficially by any person other than the Corporation, and (ii) that the Corporation, as the holder of the class of shares referred to in subparagraph (i), has the exclusive right, voting separately as a class, to elect a majority of the directors of the Development Corporation.
Cooperative Energy Act — C-41.5 15
ess any taxes thereon and costs of administration, that has not been claimed by a person entitled under subsection (7) to receive the proceeds of a sale that constitute the trust fund for a period of ten years after the date of the sale vests in Her Majesty in right of Canada. Escheats Act applies (14) Sections 3 to 5 of the Escheats Act apply in respect of a trust fund that vests in Her Majesty in right of Canada under subsection (13). Application of subsections (6) to (14) (15) Subsections (6) to (14) apply to (a) a sale of shares pursuant to subsection (5), and (b) the proceeds of such sale subject to any provisions in respect of the sale of constrained shares set out in, or prescribed pursuant to, the Canada Business Corporations Act .
Cooperative Energy Act — C-41.5 16
Amendments to articles relating to constraints on shares 16 Whether or not any of the issued shares of the Development Corporation are or were part of a distribution to the public and remain outstanding and are held by more than one person, the Development Corporation may, by special resolution, amend its articles to constrain the issue, transfer or ownership of its shares of any class or series as permitted under (a) section 168 of the Canada Business Corporations Act ; or (b) section 15.
Cooperative Energy Act — C-41.5 17
First directors 17 (1) The first directors of the Development Corporation shall be such persons as may be appointed by the directors of the Corporation. Idem (2) Each director appointed pursuant to subsection (1) holds office until the first meeting of shareholders of the Development Corporation.
Cooperative Energy Act — C-41.5 18
Application of Canada Business Corporations Act 18 Except to the extent that they are inconsistent with or excluded by this Act, the provisions of the Canada Business Corporations Act and any regulations made thereunder apply to the Development Corporation, with such modifications as the circumstances require, as if it were a corporation incorporated under that Act.
Cooperative Energy Act — C-41.5 19
Act continues to apply on amalgamation, etc. 19 For greater certainty, where a certificate of amendment, restated certificate of incorporation, certificate of amalgamation or certificate of revival, in relation to the Development Corporation, is issued by the Director pursuant to the Canada Business Corporations Act , this Part, (a) in the case of a certificate of amalgamation, applies to the amalgamated corporation as if it were the Development Corporation; and (b) in the case of any certificate referred to in this section, other than a certificate of amalgamation, continues to apply to the Development Corporation.
Cooperative Energy Act — C-41.5 20
Canada Corporations Act not applicable 20 Part IV of the Canada Corporations Act does not apply to the Development Corporation.
Cooperative Energy Act — C-41.5 21
Not agent of Her Majesty 21 The Development Corporation is not an agent of Her Majesty, or a Crown Corporation within the meaning of the Financial Administration Act , and its officers and employees are not part of the federal public administration. 1980-81-82-83, c. 108, s. 21; 2003, c. 22, s. 153
Cooperative Energy Act — C-41.5 22
Corporation and Development Corporation qualified as members of cooperative associations 22 Notwithstanding the Cooperative Credit Associations Act , the Corporation and the Development Corporation are qualified to become members of an association to which the Cooperative Credit Associations Act applies.
Cooperative Energy Act — C-41.5 23
Application to Crown 23 This Act is binding on Her Majesty in right of Canada and any agent thereof.
Cooperative Energy Act — C-41.5 24
Acquisition of shares by Her Majesty 24 The Minister, on behalf of Her Majesty in right of Canada, may subscribe for, acquire and hold shares and Equity Debentures of the Corporation in accordance with the Agreement and may, for that purpose, make payments out of the Consolidated Revenue Fund in an amount not exceeding in the aggregate one hundred million dollars.
Cooperative Energy Act — C-41.5 25
Regulations 25 The Governor in Council may make regulations prescribing anything that is by this Act to be prescribed by the regulations.
Cooperative Energy Act — C-41.5 26
Amendments to Agreement referred to Committee of House of Commons 26 Any amendment to the Agreement shall be deemed to be referred, for review and report, to the first sitting of the Committee of the House of Commons that normally considers oil and gas matters, following the day on which the amendment is made.
Cooperative Energy Act — C-41.5 Coming into force
Coming into force * 27 This Act or any provision thereof shall come into force on a day or days to be fixed by proclamation. * [Note: Act in force July 9, 1982, see SI/82-148.]
Cooperative Energy Act — C-41.5 1
Name of the Corporation 1 The name of the Corporation is the “Cooperative Energy Corporation” in English and “ Société coopérative de l’énergie ” in French.
Cooperative Energy Act — C-41.5 2
Unlimited number of authorized shares 2 The Corporation is authorized to issue an unlimited number of Class A Shares, Class B Shares, Class C Shares and Class D Shares.
Cooperative Energy Act — C-41.5 3
Restrictions 3 (1) The right to issue, transfer or own Class A Shares is restricted in the manner set out in this schedule. Idem (2) Class A Shares shall not be issued to, transferred to or registered on the books of the Corporation in the name of, or owned or held legally or beneficially by, any person other than a cooperative. Idem (3) No transfer, sale or assignment of a Class A Share is valid unless it is approved by the directors of the Corporation.
Cooperative Energy Act — C-41.5 4
Voting rights 4 (1) Each holder of a Class A Share is entitled to receive notice of and to attend all meetings of shareholders of the Corporation, except class meetings of other classes of shareholders. Idem (2) Each Class A Share entitles the holder thereof to three votes at a meeting of shareholders. Representatives (3) Each holder of a Class A Share may appoint, in accordance with the by-laws of the Corporation, one or more representatives, not exceeding five, to represent it at meetings of shareholders of the Corporation.
Cooperative Energy Act — C-41.5 5
Issuance as fully paid 5 (1) Subject to subsection (2), a Class A Share shall not be issued until the consideration for the share is fully paid. Partly paid converted shares (2) Class A Shares issued on the conversion of Class C Shares, Class D Shares or Equity Debentures of the Corporation (in this section referred to as “converted securities”), to the extent that such converted securities were not fully paid at the time of conversion, may be issued as partly paid shares. Application of section 24 (3) Class A Shares issued as partly paid shares pursuant to subsection (2) are issued subject to section 24 of this schedule and payment therefor shall be made on the same terms as would apply if the Class A Shares were the converted securities.
Cooperative Energy Act — C-41.5 6
Rights to participate 6 Except as otherwise provided in this schedule, in all respects, whether as to dividends, distribution of assets on dissolution or otherwise, Class A Shares rank equally, share for share, with Class B Shares.
Cooperative Energy Act — C-41.5 7
Special provisions on dissolution 7 The rights of the holders of Class A Shares in the circumstances described in section 28 of this schedule are as stipulated in that section.
Cooperative Energy Act — C-41.5 8
First lien on shares 8 (1) The Corporation has a first and preferential lien on all Class A Shares, whether fully paid or partly paid, registered in the name of a shareholder or the legal representative of that shareholder for any amount unpaid by that shareholder to the Corporation in respect of partly paid shares or Equity Debentures issued by the Corporation. Enforcement of lien (2) The lien referred to in subsection (1) may be enforced in accordance with section 24 of this schedule.
Cooperative Energy Act — C-41.5 9
Restrictions 9 (1) The right to issue, transfer or own Class B Shares is restricted in the manner set out in this schedule. Idem (2) Class B Shares shall not be issued except to Her Majesty in right of Canada as represented by the Minister and shall not be transferred to any person, other than a cooperative or registered on the books of the Corporation in the name of, or owned or held legally or beneficially by, any person other than a cooperative or Her Majesty in right of Canada.
Cooperative Energy Act — C-41.5 10
Voting rights 10 (1) Each holder of a Class B Share is entitled to receive notice of and to attend all meetings of shareholders of the Corporation, except class meetings of other classes of shareholders. Idem (2) Each Class B Share entitles the holder thereof to one vote at a meeting of shareholders. Representatives (3) Each holder of Class B Shares may appoint, in accordance with the by-laws of the Corporation, one or more representatives, not exceeding ten, to represent the holder at meetings of shareholders of the Corporation.
Cooperative Energy Act — C-41.5 11
Issuance as fully paid 11 A Class B Share shall not be issued until the consideration for the share is fully paid.
Cooperative Energy Act — C-41.5 12
Rights to participate 12 Except as otherwise provided in this schedule, in all respects, whether as to dividends, distribution of assets on dissolution or otherwise, Class B Shares rank equally, share for share, with Class A Shares.
Cooperative Energy Act — C-41.5 13
Special provisions on dissolution 13 The rights of the holders of Class B Shares in the circumstances described in section 28 of this schedule are as stipulated in that section.
Cooperative Energy Act — C-41.5 14
Restrictions 14 The right to issue, transfer or own Class C Shares is restricted in the manner set out in this schedule.
Cooperative Energy Act — C-41.5 15
Issuance 15 Class C Shares may only be issued instead of payment of interest on outstanding Equity Debentures and shall be issued in such numbers and at such times as the directors of the Corporation may determine to be required to satisfy the obligations of the Corporation in respect of interest on its outstanding Equity Debentures.
Cooperative Energy Act — C-41.5 16
Ownership 16 Class C Shares shall not be issued to, transferred to or registered on the books of the Corporation in the name of, or owned or held legally or beneficially by, any person other than a cooperative or Her Majesty in right of Canada as represented by the Minister.
Cooperative Energy Act — C-41.5 17
Voting rights 17 Except as otherwise specifically provided in the Canada Business Corporations Act , Class C Shares do not carry any voting rights and the holders thereof, as such, are not entitled to receive notice of or to attend any meetings of the shareholders of the Corporation.
Cooperative Energy Act — C-41.5 18
Rights to participate 18 Class C Shares do not carry any rights to dividends or to any distribution of assets (whether by way of return of capital or otherwise) on liquidation, dissolution, winding-up, insolvency, bankruptcy or in any other case.
Cooperative Energy Act — C-41.5 19
Conversion 19 Class C Shares are subject to the automatic conversion described in section 29 of this schedule.
Cooperative Energy Act — C-41.5 20
First lien on shares 20 (1) The Corporation has a first and preferential lien on all Class C Shares, registered in the name of a shareholder that is a cooperative or the legal representative of that shareholder for any amount unpaid by that shareholder to the Corporation in respect of partly paid shares or Equity Debentures issued by the Corporation. Enforcement of lien (2) The lien referred to in subsection (1) may be enforced in accordance with section 24 of this schedule.
Cooperative Energy Act — C-41.5 21
Restrictions 21 The right to issue, transfer or own Class D Shares is restricted in the manner set out in this schedule.
Cooperative Energy Act — C-41.5 22
Idem 22 Class D Shares shall not be issued to, transferred to or registered on the books of the Corporation in the name of, or owned or held legally or beneficially by, any person other than a cooperative or Her Majesty in right of Canada as represented by the Minister.