GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Bank of Canada Act — B-2 27
Reserve fund 27 The Bank shall establish a reserve fund and, after making the provision that the Board thinks proper for bad and doubtful debts, depreciation in assets, pension funds and all other matters that are properly provided for by banks, the ascertained surplus available from the operations of the Bank during each financial year is to be applied by the Board as follows: (a) if the Bank’s reserve fund is less than the paid-up capital, one third of the surplus is to be allocated to the reserve fund, and the residue is to be paid to the Receiver General and form part of the Consolidated Revenue Fund; (b) if the reserve fund is not less than the paid-up capital, one fifth of the surplus is to be allocated to the reserve fund until the reserve fund reaches an amount five times the paid-up capital, and the residue is to be paid to the Receiver General and form part of the Consolidated Revenue Fund; and (c) if the reserve fund is not less than five times the paid-up capital, the whole of the surplus is to be paid to the Receiver General and form part of the Consolidated Revenue Fund. R.S., 1985, c. B-2, s. 27; 2007, c. 6, s. 395(E)
Bank of Canada Act — B-2 27.1
Special reserve fund — unrealized valuation losses 27.1 (1) Despite section 27, the Bank may establish a special reserve fund and may, pursuant to a resolution passed by the Board, allocate to the fund out of the ascertained surplus available from the operations of the Bank during each financial year an amount to offset unrealized valuation losses due to changes in the fair value of the investment portfolio of the Bank. Maximum (2) The amount that may be held in the fund shall not be more than $400,000,000 at any time. 2007, c. 6, s. 396
Bank of Canada Act — B-2 28
Appointment of auditors 28 (1) The Governor in Council shall, on the recommendation of the Minister, appoint two firms of accountants eligible to be appointed as auditors of a bank to audit the affairs of the Bank. Term of office (2) Every firm of accountants appointed after November 30, 1980 shall be appointed to perform annual audits for the five fiscal years following the year of its appointment except that one of the first two firms of accountants appointed after November 30, 1980 shall be appointed to perform annual audits for the three years following the year of its appointment. Vacancies (3) Where any vacancy occurs in the office of auditor of the Bank, notice thereof shall forthwith be given by the Bank to the Minister who thereupon shall appoint some other firm of accountants eligible to be appointed under this section to audit the affairs of the Bank for the balance of the term of the firm of accountants so replaced. Persons who may not act (4) No firm of accountants of which a director is a member is eligible for appointment as an auditor and no auditor of the Bank is eligible for appointment for a second successive term. Reports to Minister (5) The Minister may from time to time require the auditors to report to the Minister on the adequacy of the procedure adopted by the Bank for the protection of its creditors or shareholders and the sufficiency of their own procedure in auditing the affairs of the Bank, and the Minister may, at his discretion, enlarge or extend the scope of the audit or direct that any other procedure be established or that any other examination be made by the auditors as the public interest may seem to require. Copies of reports to be sent to Minister (6) A copy of every report made by the auditors to the Bank under this section shall be transmitted to the Minister by the auditors at the same time as that report is transmitted to the Bank. R.S., c. B-2, s. 24; 1980-81-82-83, c. 40, s. 51
Bank of Canada Act — B-2 29
Weekly financial information 29 (1) The Bank shall, as soon as practicable after the last business day of each week, post on its website financial information about its assets and liabilities. Monthly balance sheet (2) The Bank shall, as soon as practicable after the last business day of each month, post on its website its balance sheet as at the close of business on that day. The balance sheet shall set out information regarding the Bank’s investments in securities issued or guaranteed by the Government of Canada. R.S., 1985, c. B-2, s. 29; 1997, c. 15, s. 104; 2001, c. 9, s. 199; 2007, c. 6, s. 397; 2012, c. 5, s. 184
Bank of Canada Act — B-2 30
Fiscal year 30 (1) The fiscal year of the Bank shall be the calendar year. Financial statements to Minister (2) Within two months after the end of each financial year, the Bank shall send to the Minister its audited financial statements for the financial year, in the form prescribed by the by-laws of the Bank. Signing of statements (2.1) The financial statements must be signed by the Governor or the Deputy Governor and the Chief Accountant or Acting Chief Accountant of the Bank. Other information (2.2) The financial statements must be accompanied by any summary or report by the Governor that the Governor considers desirable or that is required by the Minister. A copy of the signed and audited financial statements must without delay be published in the Canada Gazette . Report to Parliament (3) The Minister shall lay the copy of the accounts and Governor’s report mentioned in subsection (2) before Parliament on any of the first twenty-one days that either House of Parliament is sitting after the Minister receives it. R.S., 1985, c. B-2, s. 30; 1997, c. 15, s. 105
Bank of Canada Act — B-2 30.1
No liability if in good faith 30.1 No action lies against Her Majesty, the Minister, any officer, employee or director of the Bank or any person acting under the direction of the Governor for anything done or omitted to be done in good faith in the administration or discharge of any powers or duties that under this Act are intended or authorized to be executed or performed. 2001, c. 9, s. 200
Bank of Canada Act — B-2 31
Holding office when ineligible 31 Every person who holds office or continues to hold office as the Governor or as a Deputy Governor or director of the Bank, knowing that he or she is not eligible for that office, is guilty of an offence and liable on summary conviction to a fine of not more than one hundred thousand dollars or to imprisonment for a term of not more than six months or to both. R.S., 1985, c. B-2, s. 31; 2001, c. 9, s. 201
Bank of Canada Act — B-2 32
Verifying false statement, account or list 32 Every director, officer or auditor of the Bank who verifies any statement, account or list required to be furnished to the Minister pursuant to this Act, or who has to do with the delivering or transmitting of that statement, account or list to the Minister, knowing it to be false in any material particular, is guilty of an offence and liable on summary conviction to a fine of not more than one hundred thousand dollars or to imprisonment for a term of not more than six months or to both. R.S., 1985, c. B-2, s. 32; 2001, c. 9, s. 201
Bank of Canada Act — B-2 33
Contravention of Act 33 Any officer of the Bank or any officer of a bank or any other person who fails or omits to comply with any provision of this Act is guilty of an offence and, unless otherwise provided by this Act, liable on summary conviction to a fine of not more than one hundred thousand dollars or to imprisonment for a term of not more than six months or to both. R.S., 1985, c. B-2, s. 33; 2001, c. 9, s. 201
Bank of Canada Act — B-2 34
Insolvency and winding-up 34 No statute relating to the insolvency or winding-up of any corporation applies to the Bank and in no case shall the affairs of the Bank be wound up unless Parliament so provides, but if provision is made for winding up the Bank the notes of the Bank outstanding are the first charge on the assets. R.S., c. B-2, s. 30
Bank of Canada Act — B-2 35
By-laws 35 (1) The Board, with the approval of the Governor in Council, may make by-laws with respect to (a) the calling of meetings of the Board and of the Executive Committee and what number of persons shall constitute a quorum in each case, and how questions considered at those meetings shall be determined; (b) the fees of directors; (c) the duties and conduct of officers and employees of the Bank; (d) the form of the annual statement of accounts; and (e) generally, the management and disposition of the stock, property and undertakings of the Bank. Publication (2) Every by-law and every amendment or repeal thereof shall take effect when published in the Canada Gazette . R.S., 1985, c. B-2, s. 35; 1997, c. 15, s. 106(E); 2001, c. 4, s. 60(F)
Bank of Canada Act — B-2
I, , do solemnly swear (or affirm) that I will faithfully and to the best of my judgment and ability perform the duties that relate to any office or position in the Bank held by me.
Bank of Canada Act — B-2
I also solemnly swear (or affirm) that I will not communicate or allow to be communicated, to any person not entitled to it, any confidential information that relates to the business or affairs of the Bank that I may learn in the course of performing those duties; use any such information for any purpose other than to perform those duties; or allow any person to inspect or have access to any books and records that belong to or that are in the possession of the Bank and that relate to the business or affairs of the Bank, unless the person is legally entitled to inspect them or to have access to them.
Bank of Canada Act — B-2
communicate or allow to be communicated, to any person not entitled to it, any confidential information that relates to the business or affairs of the Bank that I may learn in the course of performing those duties;
Bank of Canada Act — B-2
use any such information for any purpose other than to perform those duties; or
Bank of Canada Act — B-2
allow any person to inspect or have access to any books and records that belong to or that are in the possession of the Bank and that relate to the business or affairs of the Bank, unless the person is legally entitled to inspect them or to have access to them.
Bank of Canada Act — B-2 237
Losses — Government of Canada Bond Purchase Program 237 Despite sections 27 and 27.1 of the Bank of Canada Act , any ascertained surplus of the Bank of Canada during a financial year must be applied to the Bank of Canada’s retained earnings until the earlier of the following events occurs: (a) the Bank of Canada’s retained earnings are equal to zero, and (b) the ascertained surplus applied to the Bank of Canada’s retained earnings is equal to its losses arising from the purchase of Government of Canada securities as part of the Government of Canada Bond Purchase Program from April 1, 2020 to April 25, 2022.
Beechwood Power Project Act — B-3.4
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
Beechwood Power Project Act — B-3.4 1
Authority for loan 1 The Minister of Finance may out of the Consolidated Revenue Fund make loans to the Government of New Brunswick, not exceeding in the aggregate thirty million dollars, in respect of expenditures for the development of hydro-electric power at Beechwood on the St. John River.
Beechwood Power Project Act — B-3.4 2
Terms and conditions 2 A loan made under the authority of this Act shall bear interest at a rate to be fixed by the Governor in Council but not exceeding four and three-eighths per cent per annum, shall, together with such interest, be repayable in eight equal annual instalments, and shall be subject to such other terms and conditions as are prescribed by the Governor in Council.
Bell Canada Act — B-3.6
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
Bell Canada Act — B-3.6 1
Short title 1 This Act may be cited as the Bell Canada Act .
Bell Canada Act — B-3.6 2
Definitions 2 In this Act, affiliate , in respect of the Company, means any person that controls or is controlled by the Company or that is controlled by the same person that controls the Company; ( personne du même groupe ) Commission means the Canadian Radio-television and Telecommunications Commission; ( Conseil ) Company means The Bell Telephone Company of Canada, established by an Act of Parliament and continued as a corporation under the names “The Bell Telephone Company of Canada”, “La Compagnie de Téléphone Bell du Canada” and “Bell Canada” under the Canada Business Corporations Act on April 21, 1982, whether or not the name of the Company is subsequently changed; ( Compagnie ) control includes control in fact, whether or not through one or more persons. ( contrôle )
Bell Canada Act — B-3.6
affiliate , in respect of the Company, means any person that controls or is controlled by the Company or that is controlled by the same person that controls the Company; ( personne du même groupe )
Bell Canada Act — B-3.6
Commission means the Canadian Radio-television and Telecommunications Commission; ( Conseil )
Bell Canada Act — B-3.6
Company means The Bell Telephone Company of Canada, established by an Act of Parliament and continued as a corporation under the names “The Bell Telephone Company of Canada”, “La Compagnie de Téléphone Bell du Canada” and “Bell Canada” under the Canada Business Corporations Act on April 21, 1982, whether or not the name of the Company is subsequently changed; ( Compagnie )
Bell Canada Act — B-3.6
control includes control in fact, whether or not through one or more persons. ( contrôle )
Bell Canada Act — B-3.6 3
Inconsistencies 3 In the event of any inconsistency between the provisions of this Act and any other Act of Parliament providing for the incorporation of corporations, or anything issued, made or established under that other Act, the provisions of this Act prevail.
Bell Canada Act — B-3.6 5
Declaration re works 5 The works of the Company are hereby declared to be works for the general advantage of Canada.
Bell Canada Act — B-3.6 6
Company to furnish service in certain cases 6 (1) Where a telephone service is requested by any person or organization for any lawful purpose in a municipality or other territory within which a general telephone service is provided by the Company, the Company shall, with all reasonable dispatch, (a) furnish the service; and (b) subject to any order of the Commission under section 13 that restricts the right or ability of the Company to be a supplier of telephones, furnish telephones of the latest improved design then in use by the Company in the municipality or territory. Exception (2) Nothing in subsection (1) requires the Company to furnish the service or a telephone where (a) the premises for which the service is requested are not fronting on a highway, street, lane or other area along, over, under or on which the Company has a main or branch telephone service or system; (b) the telephone on the premises would be situated more than 62 metres or such other distance as the Commission may specify from the highway, street, lane or other area; or (c) if the Commission has not otherwise specified, the Company has not received therefor a tender or payment of the lawful rates semi-annually in advance.
Bell Canada Act — B-3.6 10
Certain investments prohibited 10 (1) The Company shall not acquire or hold directly or indirectly any shares, bonds, debentures or other securities of another body corporate that (a) is engaged in research and development work in areas of inquiry that relate to the business activities of the Companies; and (b) manufactures products for sale to the Company or to other customers. Exception (2) Subsection (1) does not apply to the Company in respect of another body corporate that was, on March 7, 1968, a subsidiary of the Company.
Bell Canada Act — B-3.6 11
Approval of disposal of certain shares required 11 (1) No voting shares of the Company held by or on behalf of any person that controls the Company shall be sold or disposed of to any other person without the prior approval of the Commission. Approval of disposal of facilities required (2) Except in the ordinary course of the business of the Company, no facilities of the Company that are integral and necessary for the carrying on of telecommunications activities shall be sold or otherwise disposed of, or leased or loaned, without the prior approval of the Commission. Approval form (3) An approval referred to in subsection (1) or (2) may be specific or general and may be granted on such terms and conditions as the Commission deems expedient. Non-application of subsection (1) (4) Subsection (1) does not apply in respect of the sale or disposal of voting shares of the Company where, if the sale or disposal occurred, the person that controls the Company on the day on which this Act comes into force would retain the ownership of not less than eighty per cent of the total number of all the issued and outstanding voting shares of the Company. 1987, c. 19, s. 11; 2001, c. 4, s. 61
Bell Canada Act — B-3.6 12
Approval 12 Unconditional approval shall be deemed to be given under subsection 11(2) thirty days after written notification of a proposed transaction to the Commission, without prejudice to the exercise of the Commission’s powers under the Telecommunications Act . 1987, c. 19, s. 12; 1992, c. 1, s. 22; 1993, c. 38, s. 80
Bell Canada Act — B-3.6 14
Deposit in office of the Registrar General 14 (1) A deed of trust creating mortgages, charges or encumbrances — or, in the Province of Quebec, an act constituting hypothecs — on the whole or any part of the property of the Company, present or future, as may be described in the deed or act and an assignment or other instrument or act in any way affecting the mortgage, hypothec or security shall be deposited in the office of the Registrar General of Canada and notice of the deposit shall immediately be given in the Canada Gazette . Effect of compliance (2) If subsection (1) has been complied with, it shall not be necessary for any purpose that the mortgage, hypothec, charge, encumbrance or assignment or any other instrument or act in any way affecting it be otherwise deposited, registered or filed under the provisions of any law respecting the deposit, registration or filing of instruments or acts affecting property. 1987, c. 19, s. 14; 2001, c. 4, s. 62
Bankruptcy and Insolvency Act — B-3 1
Short title 1 This Act may be cited as the Bankruptcy and Insolvency Act . R.S., 1985, c. B-3, s. 1; 1992, c. 27, s. 2
Bankruptcy and Insolvency Act — B-3 2
erty from the debtor subject to a right of redemption, or (iii) the trustee of a trust constituted by the debtor to secure the performance of an obligation, if the exercise of the person’s rights is subject to the provisions of Book Six of the Civil Code of Québec entitled Prior Claims and Hypothecs that deal with the exercise of hypothecary rights; ( créancier garanti ) settlement [Repealed, 2005, c. 47, s. 2] shareholder includes a member of a corporation — and, in the case of an income trust, a holder of a unit in an income trust — to which this Act applies; ( actionnaire ) sheriff [Repealed, 2004, c. 25, s. 7] special resolution means a resolution decided by a majority in number and three-fourths in value of the creditors with proven claims present, personally or by proxy, at a meeting of creditors and voting on the resolution; ( résolution spéciale ) Superintendent means the Superintendent of Bankruptcy appointed under subsection 5(1); ( surintendant ) Superintendent of Financial Institutions means the Superintendent of Financial Institutions appointed under subsection 5(1) of the Office of the Superintendent of Financial Institutions Act ; ( surintendant des institutions financières ) time of the bankruptcy , in respect of a person, means the time of (a) the granting of a bankruptcy order against the person, (b) the filing of an assignment by or in respect of the person, or (c) the event that causes an assignment by the person to be deemed; ( moment de la faillite ) title transfer credit support agreement means an agreement under which an insolvent person or a bankrupt has provided title to property for the purpose of securing the payment or performance of an obligation of the insolvent person or bankrupt in respect of an eligible financial contract; ( accord de transfert de titres pour obtention de crédit ) transfer at undervalue means a disposition of property or provision of services for which no consideration is received by the debtor or for which the consideration received by the debtor is conspicuously less than the fair market value of the consideration given by the debtor; ( opération sous-évaluée ) trustee or licensed trustee means a person who is licensed or appointed under this Act. ( syndic ou syndic autorisé ) R.S., 1985, c. B-3, s. 2; R.S., 1985, c. 31 (1st Supp.), s. 69; 1992, c. 1, s. 145(F), c. 27, s. 3; 1995, c. 1, s. 62; 1997, c. 12, s. 1; 1999, c. 28, s. 146, c. 31, s. 17; 2000, c. 12, s. 8; 2001, c. 4, s. 25, c. 9, s. 572; 2004, c. 25, s. 7; 2005, c. 3, s. 11, c. 47, s. 2; 2007, c. 29, s. 91, c. 36, s. 1; 2012, c. 31, s. 414; 2015, c. 3, s. 6(F); 2018, c. 10, s. 82
Bankruptcy and Insolvency Act — B-3
affidavit includes statutory declaration and solemn affirmation; ( affidavit )
Bankruptcy and Insolvency Act — B-3
aircraft objects [Repealed, 2012, c. 31, s. 414]
Bankruptcy and Insolvency Act — B-3
application , with respect to a bankruptcy application filed in a court in the Province of Quebec, means a motion; ( Version anglaise seulement )
Bankruptcy and Insolvency Act — B-3
assignment means an assignment filed with the official receiver; ( cession )
Bankruptcy and Insolvency Act — B-3 (a)
bank means (a) every bank and every authorized foreign bank within the meaning of section 2 of the Bank Act , (b) every other member of the Canadian Payments Association established by the Canadian Payments Act , and (c) every local cooperative credit society, as defined in subsection 2(1) of the Act referred to in paragraph (b), that is a member of a central cooperative credit society, as defined in that subsection, that is a member of that Association; ( banque )
Bankruptcy and Insolvency Act — B-3
bankrupt means a person who has made an assignment or against whom a bankruptcy order has been made or the legal status of that person; ( failli )
Bankruptcy and Insolvency Act — B-3
bankruptcy means the state of being bankrupt or the fact of becoming bankrupt; ( faillite )
Bankruptcy and Insolvency Act — B-3
bargaining agent means any trade union that has entered into a collective agreement on behalf of the employees of a person; ( agent négociateur )
Bankruptcy and Insolvency Act — B-3
claim provable in bankruptcy , provable claim or claim provable includes any claim or liability provable in proceedings under this Act by a creditor; ( réclamation prouvable en matière de faillite ou réclamation prouvable )
Bankruptcy and Insolvency Act — B-3
collective agreement , in relation to an insolvent person, means a collective agreement within the meaning of the jurisdiction governing collective bargaining between the insolvent person and a bargaining agent; ( convention collective )
Bankruptcy and Insolvency Act — B-3
common-law partner , in relation to an individual, means a person who is cohabiting with the individual in a conjugal relationship, having so cohabited for a period of at least one year; ( conjoint de fait )
Bankruptcy and Insolvency Act — B-3
common-law partnership means the relationship between two persons who are common-law partners of each other; ( union de fait )
Bankruptcy and Insolvency Act — B-3
corporation means a company or legal person that is incorporated by or under an Act of Parliament or of the legislature of a province, an incorporated company, wherever incorporated, that is authorized to carry on business in Canada or has an office or property in Canada or an income trust, but does not include banks, authorized foreign banks within the meaning of section 2 of the Bank Act , insurance companies, trust companies or loan companies; ( personne morale )
Bankruptcy and Insolvency Act — B-3
court , except in paragraphs 178(1)(a) and (a.1) and sections 204.1 to 204.3, means a court referred to in subsection 183(1) or (1.1) or a judge of that court, and includes a registrar when exercising the powers of the court conferred on a registrar under this Act; ( tribunal )