GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Boards of Trade Act — B-6 41
Rights and liabilities 41 No rights or liabilities of a corporation are affected by a change of its name, and all actions commenced by or against the corporation prior to the change may be proceeded with by or against it under its former name. R.S., c. B-8, s. 41
Boards of Trade Act — B-6 42
Annual summary 42 (1) Every board of trade shall, on or before June 1 in every year, make a summary as of the March 31 preceding, specifying the following particulars: (a) the name of the board of trade; (b) the manner in which the board of trade is incorporated, giving the date thereof; (c) the date on which the last general meeting of the members of the board of trade was held; and (d) the names and addresses of the persons who at the date of the return compose the council of the board of trade. To be filed (2) The summary referred to in subsection (1) shall be completed and filed in duplicate in the Department of Industry on or before June 1 in every year. Duplicates (3) Each of the duplicates referred to in subsection (2) shall be signed by the secretary of the board of trade. Default (4) Where a board of trade fails to comply with any requirements of this section, it is liable on summary conviction to a fine not exceeding twenty dollars for every day during which the failure continues. Penalty (5) Every member of the council of a board of trade who knowingly or wilfully authorizes or permits a failure referred to in subsection (4) is liable to the same fine. R.S., 1985, c. B-6, s. 42; 1992, c. 1, s. 145(F); 1995, c. 1, s. 63
Boards of Trade Act — B-6 43
Dissolution of corporation 43 On its being made to appear that a board of trade has become incapable of exercising or has ceased to exercise its franchises, the Governor in Council may, subject to such terms and conditions as he thinks just and proper, dissolve the board as a corporation. R.S., c. B-8, s. 43
Boards of Trade Act — B-6 44
Formation 44 (1) Any number of persons, not fewer than thirty, who are directly or indirectly engaged or interested in trade, commerce or the economic and social welfare of any district, whether residents of the district or not, may associate themselves together as a board of trade for the purpose of promoting and improving trade and commerce and the economic, civic and social welfare of the district. Certificate, registration and incorporation (2) Where the provisions of sections 5 and 7 have been complied with, section 8 applies to an association formed under subsection (1). R.S., c. B-8, s. 44
Boards of Trade Act — B-6 45
Memorandum of agreement 45 The persons referred to in section 44 shall forward to the Minister of Industry, together with the certificate of formation, a memorandum of agreement in duplicate, which shall set out the by-laws or regulations of the proposed board of trade and shall, more particularly, provide by-laws or regulations on the following matters: (a) conditions of membership, including societies or companies becoming members of the corporation; (b) mode of holding meetings, rights of voting and of making, repealing or amending by-laws or regulations; (c) appointment and removal of the directors, trustees, committee or officers, and their respective powers and remuneration; (d) provision for audit of accounts and appointment of auditors; (e) determination whether or how members may withdraw from the corporation; and (f) provision for custody of the seal of, and certifying of documents issued by, the corporation. R.S., 1985, c. B-6, s. 45; 1992, c. 1, s. 145(F); 1995, c. 1, s. 62
Boards of Trade Act — B-6 46
Amendments 46 (1) The by-laws and regulations referred to in section 45 may be amended at a general meeting called for that purpose. Approval (2) A variation or amendment of any by-law or regulation shall not be in force or acted on without the approval of the Minister of Industry. R.S., 1985, c. B-6, s. 46; 1992, c. 1, s. 145(F); 1995, c. 1, s. 62
Boards of Trade Act — B-6 47
Existing boards of trade 47 An existing board of trade incorporated by or under any Act of Parliament, of the legislature of the former Province of Canada or of the legislature of any province may apply under this Part to establish the board of trade under this Part. R.S., c. B-8, s. 47
Boards of Trade Act — B-6 48
Powers 48 A board of trade established under this Part has all the powers and authorities conferred on a board of trade by Part I and is subject to all the provisions of Part I except in so far as those provisions may be varied by this Part. R.S., c. B-8, s. 48
Boards of Trade Act — B-6
Know all men, that the undersigned and the undersigned ( if there are more parties, that is, more separate interests, mention them ) having a difference as to the respective rights of those parties, as in the case attached hereto, have agreed and bound themselves under a penalty of dollars, to perform and abide by the award to be made by the Board of Arbitration of the Board of Trade of in that case, under the penalty, to be paid by the party refusing to perform or abide by the award to the party ready and willing to perform or abide by it.
Boards of Trade Act — B-6
In witness whereof, the parties hereto have hereunto set their hands and affixed their seals at the of on the day of , A.D. 19 .
Boards of Trade Act — B-6
I swear that I will faithfully, impartially and diligently perform my duty as a member of the Board of Arbitration of the Board of Trade of , and that I will, in all cases in which I act as arbitrator, give a true and just award, according to the best of my judgment and ability, without fear, favour or affection of or for any person whomever. So help me God.
Bretton Woods and Related Agreements Act — B-7 Preamble
Preamble WHEREAS the United Nations Monetary and Financial Conference held at Bretton Woods in July 1944 prepared the Articles of Agreement set out in Schedule I for an International Monetary Fund and in Schedule II for an International Bank for Reconstruction and Development;
Bretton Woods and Related Agreements Act — B-7
AND WHEREAS since that time there have been prepared Articles of Agreement set out in Schedule III for an International Development Association, in Schedule IV for an International Finance Corporation and in Schedule V for a Multilateral Investment Guarantee Agency;
Bretton Woods and Related Agreements Act — B-7
AND WHEREAS it is expedient that Canada become a member of the International Monetary Fund, the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation and the Multilateral Investment Guarantee Agency and that provision be made for acceptance by Canada of the Agreements and the Convention therefor and for carrying out the obligations and exercising any rights of Canada thereunder;
Bretton Woods and Related Agreements Act — B-7
THEREFORE Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows: R.S., 1985, c. B-7, Preamble; R.S., 1985, c. 24 (1st Supp.), s. 2, c. 32 (3rd Supp.), s. 2.
Bretton Woods and Related Agreements Act — B-7 1
Short title 1 This Act may be cited as the Bretton Woods and Related Agreements Act . R.S., 1985, c. B-7, s. 1; R.S., 1985, c. 24 (1st Supp.), s. 3
Bretton Woods and Related Agreements Act — B-7 2
Agreements approved 2 The Agreements for an International Monetary Fund, an International Bank for Reconstruction and Development, an International Development Association and an International Finance Corporation and the Convention establishing the Multilateral Investment Guarantee Agency, in this Act referred to as “the Agreements”, set out in Schedules I to V, respectively, are hereby approved. R.S., 1985, c. B-7, s. 2; R.S., 1985, c. 24 (1st Supp.), s. 4, c. 32 (3rd Supp.), s. 3
Bretton Woods and Related Agreements Act — B-7 3
Acceptance authorized 3 The Governor in Council may authorize the acceptance on behalf of Canada of the Agreements and may make such appointments, do and authorize such acts and things and make such orders and regulations as are necessary for that purpose and for carrying out the obligations and exercising any rights of Canada under the Agreements. R.S., c. B-9, s. 2; 1980-81-82-83, c. 128, s. 1
Bretton Woods and Related Agreements Act — B-7 4
Establishment of par value 4 Without restricting the generality of section 3 and notwithstanding any other statute or law, the Governor in Council may take such measures as he deems necessary to establish, for the purposes and in accordance with the terms of the Agreement for an International Monetary Fund, the par value of the Canadian dollar. R.S., c. B-9, s. 2; 1980-81-82-83, c. 128, s. 1
Bretton Woods and Related Agreements Act — B-7 5
Non-enforceability of certain exchange contracts 5 The first sentence of paragraph 2(b) of Article VIII of the Agreement set out in Schedule I has the force of law in Canada. R.S., c. B-9, s. 3
Bretton Woods and Related Agreements Act — B-7 6
Bank of Canada designated as depository 6 The Bank of Canada has capacity and power to act as the depository in Canada for the holdings of Canadian currency and other assets of the International Monetary Fund, the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation and the Multilateral Investment Guarantee Agency and shall act as such depository. R.S., 1985, c. B-7, s. 6; R.S., 1985, c. 24 (1st Supp.), s. 5, c. 32 (3rd Supp.), s. 4
Bretton Woods and Related Agreements Act — B-7 6.1
Payment of subscription out of C.R.F. 6.1 The Minister of Finance may pay out of the Consolidated Revenue Fund to the Multilateral Investment Guarantee Agency, in the manner and at the times provided for in the Convention set out in Schedule V, a sum or sums of money not exceeding in the whole six million, four hundred and sixteen thousand, two hundred and sixty American dollars in respect of the initial subscription required to be made by Canada under the Convention. R.S., 1985, c. 32 (3rd Supp.), s. 4
Bretton Woods and Related Agreements Act — B-7 7
Payment to International Monetary Fund 7 The Minister of Finance may provide for payment out of the Consolidated Revenue Fund to the International Monetary Fund in the manner and at the times provided for by the Agreement set out in Schedule I of a sum or sums of money, not exceeding in the whole an amount equivalent to the subscriptions required from or permitted to be made by Canada, namely, sixteen billion, five hundred thirty-five million, nine hundred thousand Special Drawing Rights. R.S., 1985, c. B-7, s. 7; 1991, c. 21, s. 1; 1998, c. 21, s. 127; 2012, c. 19, s. 375 2024, c. 17, s. 173
Bretton Woods and Related Agreements Act — B-7 8
Financial assistance 8 (1) The Minister of Finance may provide financial assistance to the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation and the Multilateral Investment Guarantee Agency, directly or through any trust or body established by those institutions, by way of (a) direct payments, grants and loans; (b) the issuance of non-interest bearing, non-negotiable demand notes; (c) the purchase of shares on behalf of Her Majesty in right of Canada; (d) the issuance of guarantees; and (e) any other manner that the Minister considers appropriate. Payment out of C.R.F. (1.1) The Minister of Finance may make payments out of the Consolidated Revenue Fund for the purpose mentioned in subsection (1). Limit (2) The amount of financial assistance provided pursuant to subsection (1) in any period shall not exceed the amount specified for the purpose in respect of that period in an appropriation by Parliament. R.S., 1985, c. B-7, s. 8; R.S., 1985, c. 24 (1st Supp.), s. 6, c. 32 (3rd Supp.), s. 5; 1998, c. 21, s. 128; 2017, c. 33, s. 172
Bretton Woods and Related Agreements Act — B-7 8.1
Loans — trust or body 8.1 (1) The Minister of Finance may lend to the International Monetary Fund, at any rate of interest and on any other terms and conditions that the Governor in Council may approve, any sum or sums of money that may be required for funding any trust or body established by the Fund to assist in fulfilling the purposes of the Fund, at no time exceeding one billion Special Drawing Rights, or any other amount that may be fixed by the Governor in Council. Loans — purpose of Fund (1.1) The Minister of Finance may lend to the International Monetary Fund, at any rate of interest and on any other terms and conditions that the Governor in Council may approve, any sum or sums of money that may be required to assist the Fund in fulfilling the purpose of safeguarding global economic and financial stability, at no time exceeding 13 billion Special Drawing Rights, or any other amount that may be fixed by the Governor in Council. Grants (2) The Minister of Finance may grant to the International Monetary Fund, on such terms and conditions as the Governor in Council may approve, such sum or sums of money as may be required for funding any trust or body established by the Fund to assist in fulfilling the purposes of the Fund, not exceeding in the whole two hundred and fifty million dollars, or such greater amount as may be fixed by the Governor in Council. Payment out of C.R.F. (3) The Minister of Finance may make payments out of the Consolidated Revenue Fund for the purposes mentioned in subsections (1), (1.1) and (2). Reassignment of resources (4) The Minister of Finance may direct the reassignment of funds subscribed or contributed by Canada to the International Monetary Fund, or owed to Canada by the Fund, for a similar purpose within the Fund, subject to any terms and conditions that the Minister considers appropriate. R.S., 1985, c. 34 (4th Supp.), s. 1; 1998, c. 21, s. 129; 2017, c. 33, s. 173
Bretton Woods and Related Agreements Act — B-7 8.11
Special Drawing Rights — financial transactions 8.11 For greater certainty, the Minister of Finance may carry out financial transactions in respect of Special Drawing Rights under section 17.2 of the Currency Act , in accordance with the policy established under subsection 17.1(1) of that Act. 2017, c. 33, s. 174
Bretton Woods and Related Agreements Act — B-7 8.2
Interim financing agreements 8.2 (1) Where the Bank for International Settlements has agreed to provide a credit facility to a country seeking financial assistance from the International Monetary Fund or the International Bank for Reconstruction and Development, and the Minister of Finance is of the opinion that the credit facility is necessary to facilitate the provision of such financial assistance to the country, the Minister may enter into an agreement or arrangement with the Bank for International Settlements to guarantee the repayment of the principal and any interest owing under the credit facility. Terms of agreement (2) An agreement or arrangement entered into under this section (a) must not be for a term longer than one year; and (b) must not be for the repayment of an amount exceeding five hundred million American dollars, or ten per cent of the credit facility, whichever is greater. Bank of Canada may act as agent (3) The Bank of Canada, on the request of the Minister of Finance, may act as agent of the Minister for the purposes of subsection (1). Payment out of C.R.F. (4) Any sum or sums required for the purposes of this section shall be paid out of the Consolidated Revenue Fund. 1997, c. 26, s. 92
Bretton Woods and Related Agreements Act — B-7 (a)
foreign state means a country other than Canada, and includes (a) any political subdivision of a foreign state; (b) the government, and any department, of a foreign state or of a political subdivision of a foreign state; and (c) any agency of a foreign state or of a political subdivision of a foreign state. ( État étranger )
Bretton Woods and Related Agreements Act — B-7
International Monetary Fund arrangement means an arrangement between the International Monetary Fund and a foreign state under which the International Monetary Fund agrees to provide financial assistance to the foreign state. ( Accord relatif au Fonds monétaire international )
Bretton Woods and Related Agreements Act — B-7 10
Loans chargeable to C.R.F. 10 The principal raised by way of loan under this Act, and the interest thereon, shall be a charge on and payable out of the Consolidated Revenue Fund. R.S., c. B-9, s. 6
Bretton Woods and Related Agreements Act — B-7 11
Adjustment of valuation 11 In each year on a day determined by the Minister of Finance, the value of Canada’s assets and liabilities with respect to the International Monetary Fund, as shown in the Public Accounts of Canada, shall be adjusted to reflect the then current rate of exchange for Canadian dollars, and the resultant valuation adjustment shall, (a) if it is a positive amount, be credited to the Consolidated Revenue Fund; and (b) if it is a negative amount, be charged to the Consolidated Revenue Fund. 1976-77, c. 37, s. 2
Bretton Woods and Related Agreements Act — B-7 12
Definition of valuation adjustment 12 In section 11, valuation adjustment at a particular day means the amount obtained when the net value of Canada’s assets and liabilities with respect to the International Monetary Fund, as then recorded in the Public Accounts of Canada, is subtracted from the net value of those assets and liabilities at the then current rate of exchange for Canadian dollars. 1976-77, c. 37, s. 2
Bretton Woods and Related Agreements Act — B-7 13
Annual report 13 The Minister of Finance shall cause to be laid before each House of Parliament within one year after the end of each fiscal year or, if either House is not sitting, on any of the first five days on which that House of Parliament is sitting, a report containing a general summary of operations under this Act and details of all those operations that directly affect Canada, including the resources and lending of the World Bank Group, the funds subscribed or contributed by Canada, borrowings in Canada and procurement of Canadian goods and services. R.S., 1985, c. B-7, s. 13; R.S., 1985, c. 24 (1st Supp.), s. 7; 1993, c. 34, s. 11; 2012, c. 19, s. 376 2018, c. 27, s. 654
Bretton Woods and Related Agreements Act — B-7 14
Tabling of communiqués 14 The Minister of Finance shall cause to be laid before each House of Parliament the communiqués issued by the International Monetary and Financial Committee of the International Monetary Fund and the Development Committee of the International Bank for Reconstruction and Development and the International Monetary Fund. 1991, c. 21, s. 6; 2017, c. 33, s. 175
Bretton Woods and Related Agreements Act — B-7
Articles of Agreement of the International Monetary Fund
Bretton Woods and Related Agreements Act — B-7
The Governments on whose behalf the present Agreement is signed agree as follows:
Bretton Woods and Related Agreements Act — B-7 (i)
(i) The International Monetary Fund is established and shall operate in accordance with the provisions of this Agreement as originally adopted and subsequently amended.
Bretton Woods and Related Agreements Act — B-7 (ii)
(ii) To enable the Fund to conduct its operations and transactions, the Fund shall maintain a General Department and a Special Drawing Rights Department. Membership in the Fund shall give the right to participation in the Special Drawing Rights Department.
Bretton Woods and Related Agreements Act — B-7 (iii)
(iii) Operations and transactions authorized by this Agreement shall be conducted through the General Department, consisting in accordance with the provisions of this Agreement of the General Resources Account, the Special Disbursement Account, and the Investment Account, except that operations and transactions involving special drawing rights shall be conducted through the Special Drawing Rights Department.
Bretton Woods and Related Agreements Act — B-7 (i)
The purposes of the International Monetary Fund are: (i) To promote international monetary cooperation through a permanent institution which provides the machinery for consultation and collaboration on international monetary problems. (ii) To facilitate the expansion and balanced growth of international trade, and to contribute thereby to the promotion and maintenance of high levels of employment and real income and to the development of the productive resources of all members as primary objectives of economic policy. (iii) To promote exchange stability, to maintain orderly exchange arrangements among members, and to avoid competitive exchange depreciation. (iv) To assist in the establishment of a multilateral system of payments in respect of current transactions between members and in the elimination of foreign exchange restrictions which hamper the growth of world trade. (v) To give confidence to members by making the general resources of the Fund temporarily available to them under adequate safeguards, thus providing them with opportunity to correct maladjustments in their balance of payments without resorting to measures destructive of national or international prosperity. (vi) In accordance with the above, to shorten the duration and lessen the degree of disequilibrium in the international balances of payments of members.
Bretton Woods and Related Agreements Act — B-7 (i)
(i) To promote international monetary cooperation through a permanent institution which provides the machinery for consultation and collaboration on international monetary problems.
Bretton Woods and Related Agreements Act — B-7 (ii)
(ii) To facilitate the expansion and balanced growth of international trade, and to contribute thereby to the promotion and maintenance of high levels of employment and real income and to the development of the productive resources of all members as primary objectives of economic policy.
Bretton Woods and Related Agreements Act — B-7 (iii)
(iii) To promote exchange stability, to maintain orderly exchange arrangements among members, and to avoid competitive exchange depreciation.
Bretton Woods and Related Agreements Act — B-7 (iv)
(iv) To assist in the establishment of a multilateral system of payments in respect of current transactions between members and in the elimination of foreign exchange restrictions which hamper the growth of world trade.
Bretton Woods and Related Agreements Act — B-7 (v)
(v) To give confidence to members by making the general resources of the Fund temporarily available to them under adequate safeguards, thus providing them with opportunity to correct maladjustments in their balance of payments without resorting to measures destructive of national or international prosperity.
Bretton Woods and Related Agreements Act — B-7 (vi)
(vi) In accordance with the above, to shorten the duration and lessen the degree of disequilibrium in the international balances of payments of members.
Bretton Woods and Related Agreements Act — B-7
The Fund shall be guided in all its policies and decisions by the purposes set forth in this Article.
Bretton Woods and Related Agreements Act — B-7 Section 1
Section 1 Original members The original members of the Fund shall be those of the countries represented at the United Nations Monetary and Financial Conference whose governments accept membership before December 31, 1945.
Bretton Woods and Related Agreements Act — B-7 Section 2
Section 2 Other members Membership shall be open to other countries at such times and in accordance with such terms as may be prescribed by the Board of Governors. These terms, including the terms for subscriptions, shall be based on principles consistent with those applied to other countries that are already members.
Bretton Woods and Related Agreements Act — B-7 Section 1
Section 1 Quotas and payment of subscriptions Each member shall be assigned a quota expressed in special drawing rights. The quotas of the members represented at the United Nations Monetary and Financial Conference which accept membership before December 31, 1945 shall be those set forth in Schedule A. The quotas of other members shall be determined by the Board of Governors. The subscription of each member shall be equal to its quota and shall be paid in full to the Fund at the appropriate depository.