Financial Administration Act — F-11 60
Regulations 60 (1) The Governor in Council may make such regulations as he deems necessary to provide for the management of the public debt of Canada and the payment of interest thereon and, without limiting the generality of the foregoing, may make regulations (a) for the inscription of security certificates and the registration of securities and prescribing the effect of the inscription or registration; (b) for the transmission, transfer, redemption and cancellation of securities and the exchange and destruction of any security certificates, and, without limiting the generality of the foregoing, (i) for the transmission, transfer or redemption of securities pursuant to a judgment or as the result of the death, dissolution or bankruptcy of the registered owner of the securities, and (ii) prescribing the conditions on which the transfer and redemption of securities or the exchange of security certificates registered in the names of infants, minors or other persons not of full capacity to enter into ordinary contracts may be made; (c) for the issue of security certificates or making of payments in respect of damaged, lost, stolen or destroyed security certificates or interest coupons, and of the cheques pertaining thereto and prescribing conditions to the issue or payment; (c.1) respecting the issuance and holding of non-certificated securities; (c.2) respecting the circumstances under which the beneficial owner of a non-certificated security can obtain a security certificate or under which the beneficial owner of a security certificate can obtain a non-certificated security; (d) requiring guarantees to be given to the registrar in such manner and by such persons as the regulations may prescribe, before the registrar is authorized to make any entry in the register; (e) authorizing the correction by the registrar, in such circumstances as may be prescribed by the regulations, of errors in the register and otherwise authorizing rectification of the register; (f) providing for the payment of losses out of the Investors’ Indemnity Account; (g) deeming a specified transaction or a transaction of a specified class, including the issuance of securities, to be a transaction to borrow money for the purposes of subsection 43(1); and (h) notwithstanding any right provided by or under any other Act of Parliament to borrow money without the Minister’s authorization, requiring the Minister’s authorization in respect of a specified transaction to borrow money or a transaction of a specified class to borrow money. Form of register (2) The register maintained pursuant to subsection (1) may be in a bound or loose-leaf form or in a photographic film form or may be maintained by any system of mechanical or electronic data processing or any other information storage device that is capable of reproducing any required information in intelligible written form within a reasonable time. Canada Evidence Act (3) The register maintained pursuant to subsection (1) is deemed to be a record for the purposes of the Canada Evidence Act and every employee of the Bank of Canada who supervises the inscription or registration of securities in the register is deemed to be a manager of the Bank of Canada for the purposes of that Act. Minister’s authorization (4) If a regulation is made under paragraph (1)(g) or (h), the Minister may authorize, subject to any terms and conditions that the Minister considers appropriate, (a) the specified transaction; (b) a particular transaction named by the Minister within the specified class; (c) transactions of a particular subclass described by the Minister within the specified class; or (d) transactions of the specified class. R.S., 1985, c. F-11, s. 60; 1995, c. 17, s. 60; 2001, c. 11, s. 5