GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Canada Mortgage and Housing Corporation Act — C-7 20
Moneys owing to the Crown 20 (1) All moneys owing to Her Majesty under or pursuant to the Housing Acts shall be paid to the Corporation and payment thereof to the Corporation is payment to Her Majesty. Moneys paid into C.R.F. (2) Where any moneys owing to Her Majesty under or pursuant to the Housing Acts are paid to the Receiver General or to any other person on behalf of Her Majesty or are in any way paid into the Consolidated Revenue Fund, those moneys shall be paid to the Corporation. R.S., c. C-16, s. 21
Canada Mortgage and Housing Corporation Act — C-7 21
Loans to the Corporation 21 (1) At the request of the Corporation, the Minister of Finance may, out of the Consolidated Revenue Fund, lend money to the Corporation on any terms and conditions that that Minister may fix. Borrowing otherwise than from the Crown (2) The Corporation may borrow money otherwise than from the Crown and is hereby authorized to so borrow money in amounts such that the total indebtedness outstanding at any time in respect of such borrowings does not exceed the aggregate of (a) fifteen billion dollars, and (b) any additional amounts authorized by Parliament for the purposes of this subsection under an appropriation Act or any other Act of Parliament. Issuing obligations (3) The Corporation may issue or reissue, sell or pledge debt securities or obligations, secured or unsecured, of the Corporation. Apportioning costs of borrowing (4) For the purposes of determining the costs of its activities, the Corporation may apportion the costs related to its borrowings as it considers appropriate. R.S., 1985, c. C-7, s. 21; 1992, c. 32, s. 1; 1999, c. 27, s. 32; 2007, c. 29, s. 90
Canada Mortgage and Housing Corporation Act — C-7 22
Advances to the Corporation 22 Subject to such terms and conditions as the Governor in Council may approve, the Minister may, from time to time, make advances out of the Consolidated Revenue Fund to the Corporation for the purposes of the Corporation. R.S., 1985, c. C-7, s. 22; R.S., 1985, c. 25 (4th Supp.), s. 32; 1992, c. 32, s. 1
Canada Mortgage and Housing Corporation Act — C-7 23
Reimbursement for losses, payments and expenditures 23 The Minister shall reimburse the Corporation (a) for losses sustained by it in respect of Her Majesty’s share of loans made by Her Majesty jointly with any other person, or in respect of loans made by Her Majesty alone, under the Housing Acts, out of moneys appropriated under those Acts for the making of those loans by the Minister; (b) for payments made by it to discharge liabilities of Her Majesty under any contract, agreement or guarantee made or entered into under the Housing Acts, out of moneys appropriated for the payment by the Minister of such liabilities under those Acts; and (c) for expenditures incurred by the Corporation under any contract not referred to in paragraph (a) or (b) entered into under the Housing Acts, out of moneys appropriated for the payment of those expenditures by the Minister under those Acts or otherwise appropriated by Parliament therefor. (d) [Repealed, R.S., 1985, c. 25 (4th Supp.), s. 33] R.S., 1985, c. C-7, s. 23; R.S., 1985, c. 25 (4th Supp.), s. 33
Canada Mortgage and Housing Corporation Act — C-7 25
Research and information 25 The Corporation shall conduct research into the business of lending money on the security of mortgages and for that purpose shall compile information relating thereto. R.S., c. C-16, s. 26
Canada Mortgage and Housing Corporation Act — C-7 26
Agreement with lending institution 26 The Corporation may enter into an agreement with a lending institution under which (a) the lending institution agrees to furnish the Corporation with information in respect of interest rates, losses on loans secured by mortgages, costs of construction and of land, comparative rentals, availability of money for loans on the security of mortgages in different parts of Canada, costs of operation of the business of lending money on the security of mortgages, methods of appraising real property and such other information as may assist the Corporation in research into the conduct of the business of lending money on the security of mortgages; and (b) the Corporation agrees to furnish the lending institution with information and material relating to the lending of money on the security of mortgages. R.S., c. C-16, s. 27
Canada Mortgage and Housing Corporation Act — C-7 27
Powers under agreement with lending institution 27 (1) Where the Corporation has entered into an agreement with a lending institution under section 26, the Corporation may out of its capital and reserve fund established under section 29 or out of such other moneys as may be appropriated by Parliament for that purpose (a) purchase all right or interest of the lending institution in a mortgage and take an assignment of the mortgage; and (b) if the lending institution is a trust or loan company, (i) make loans to the company on such terms and conditions, including the rate of interest, as the Board may determine, on the security of an assignment of or an agreement to assign mortgages held by the company, and (ii) buy the debentures or other evidences of indebtedness, guaranteed investment receipts or guaranteed investment certificates of the company. Sale of mortgages by Corporation (2) The Corporation may sell to any person all right or interest of the Corporation in any mortgage held by it as a consequence of a transaction made pursuant to subsection (1) and assign the mortgage to that person. Acquisition and disposal of collateral security (3) The Corporation may acquire, hold and dispose of collateral security for the repayment of loans or the payment of debentures, other evidences of indebtedness, guaranteed investment receipts or guaranteed investment certificates, made or purchased by the Corporation under this section. R.S., c. C-16, s. 28
Canada Mortgage and Housing Corporation Act — C-7 28.1
Cooperation 28.1 (1) The Corporation may cooperate with any person, group of persons, organization, municipality or department or agency of the government of Canada or a province in the exercise of any of the Corporation’s powers and functions, and for that purpose may participate in joint ventures. Agreements (2) The Corporation may enter into agreements with a party that is a person, group of persons, organization, municipality or department or agency of the government of Canada or a province (a) for that party to have any of the powers, duties, functions, rights, obligations and liabilities of the Corporation; or (b) for the Corporation to have any of the powers, duties, functions, rights, obligations and liabilities of that party. 1999, c. 27, s. 34
Canada Mortgage and Housing Corporation Act — C-7 29
Reserve fund 29 (1) The Corporation shall establish a reserve fund. Profits credited to fund (2) Subject to subsection (3), the profits of the Corporation in each fiscal year remaining after such provision as the Board thinks proper for bad and doubtful debts, depreciation in assets, anticipated future losses and all other matters whatever that in the opinion of the Board should be provided for in carrying out the purposes of the Corporation shall be credited to the reserve fund established under subsection (1). Maximum amount of fund (3) When the reserve fund established under subsection (1) has reached a total of an amount designated from time to time by the Governor in Council, any profits of the Corporation that would be credited to the reserve fund shall be paid to the Receiver General. R.S., 1985, c. C-7, s. 29; 1992, c. 32, s. 4
Canada Mortgage and Housing Corporation Act — C-7 30
Auditor 30 (1) The auditor of the Corporation shall be appointed annually by the Governor in Council and may be removed at any time by the Governor in Council. Qualifications of auditor (2) The auditor must be (a) an accountant who is a member in good standing of an institute or association of accountants incorporated by or under an Act of the legislature of a province and who has for at least six years preceding the date of the appointment practised the profession of accountant; or (b) a partnership of accountants, one of whom is designated by the partnership, with the approval of the Corporation, to conduct the audit on behalf of the partnership and who meets the requirements of paragraph (a). (3) [Repealed, R.S., 1985, c. 1 (4th Supp.), s. 4] R.S., 1985, c. C-7, s. 30; R.S., 1985, c. 1 (4th Supp.), s. 4; 1993, c. 44, s. 30; 1999, c. 27, s. 35
Canada Mortgage and Housing Corporation Act — C-7 31
Fiscal year 31 The fiscal year of the Corporation is the calendar year unless the Governor in Council otherwise directs. R.S., c. C-16, s. 32; 1984, c. 31, s. 14
Canada Mortgage and Housing Corporation Act — C-7 32
Insolvency or winding-up not applicable 32 No Act relating to the insolvency or winding-up of any corporation applies to the Corporation and in no case shall the affairs thereof be wound up unless Parliament so provides. R.S., c. C-16, s. 36
Canada Mortgage and Housing Corporation Act — C-7 33
Approval of Governor in Council on recommendation of Minister 33 Notwithstanding section 17, where under the Housing Acts any act, matter or thing to be done by the Minister requires the approval of the Governor in Council or where the Governor in Council may make any orders or regulations on the recommendation of the Minister, the approval may be given or the orders or regulations may be made on a recommendation of the Minister. R.S., c. C-16, s. 37
Canada Mortgage and Housing Corporation Act — C-7 34
Assistance from government services 34 The minister of any department or the officer in charge of any other portion of the Government of Canada, or any agent of Her Majesty in right of Canada, may, on request of the Corporation and with the approval of the Governor in Council, agree to assist the Corporation on such terms and conditions as may be approved by the Governor in Council by providing such services as the Executive Committee may deem advisable for carrying out the business of the Corporation. R.S., c. C-16, s. 38
Canada Mortgage and Housing Corporation Act — C-7 35
Deposit accounts 35 (1) The Corporation may maintain in its own name one or more accounts with the Bank of Canada. Interest may be paid (2) The Bank of Canada may pay interest on any money that the Corporation deposits with it. 2016, c. 12, s. 125
Canada Mortgage and Housing Corporation Act — C-7
I, , do solemnly swear that I will faithfully, truly and to the best of my judgment, skill and ability, execute and perform the duties required of me as a director (officer or employee as the case may be ) of the Canada Mortgage and Housing Corporation and which properly relate to any office or position in the Corporation held by me.
Canada Mortgage and Housing Corporation Act — C-7
I further solemnly swear that I will not communicate or allow to be communicated to any person not legally entitled thereto any information relating to the affairs of the Corporation, nor will I allow any such person to inspect or have access to any books or documents belonging to or in the possession of the Corporation and relating to the business of the Corporation.
Canada Pension Plan Investment Board Act — C-8.3
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
Canada Pension Plan Investment Board Act — C-8.3 1
Short title 1 This Act may be cited as the Canada Pension Plan Investment Board Act .
Canada Pension Plan Investment Board Act — C-8.3 2
Definitions 2 The definitions in this section apply in this Act. appropriate provincial Minister , in respect of a province, means the province’s minister of the Crown who has primary responsibility for that province’s finances. ( ministre provincial compétent ) Board means the Canada Pension Plan Investment Board established by section 3. ( Office ) by-law means a by-law of the Board. ( Version anglaise seulement ) court means (a) in the Province of Ontario, the Ontario Court (General Division); (b) in the Province of Quebec, the Superior Court of the Province; (c) in the Provinces of Nova Scotia and British Columbia, the Supreme Court of the Province; (d) in the Provinces of New Brunswick, Manitoba, Saskatchewan and Alberta, the Court of Queen’s Bench for the Province; (e) in the Provinces of Prince Edward Island and Newfoundland, the trial division of the Supreme Court of the Province; and (f) the Supreme Court of Yukon, the Supreme Court of the Northwest Territories and the Nunavut Court of Justice. ( tribunal ) designated security means (a) an obligation (i) that, before April 1, 1998, was held to the credit of the Canada Pension Plan Investment Fund, as established under subsection 109(1) of the Canada Pension Plan , (ii) that, as applied to Canada, is an obligation of the Government of Canada and, as applied to a province, is an obligation of the government of the province or an obligation of any agent of Her Majesty in right of the province that is guaranteed as to principal and interest by that government, and (iii) that complies with the conditions that were set out in section 111 of the Canada Pension Plan as that section read immediately before April 1, 1998; or (b) an obligation that (i) on or after April 1, 1998, was purchased by the Minister of Finance under section 110 of the Canada Pension Plan or is purchased by the Board under section 6.1, and (ii) is an obligation of the government of a province or an obligation of any agent of Her Majesty in right of a province that is guaranteed as to principal and interest by that government. ( titre désigné ) entity means a body corporate, a trust, a partnership, a fund, an unincorporated association or organization, Her Majesty in right of Canada or of a province or an agency of Her Majesty in right of Canada or of a province and the government of a foreign country or any political subdivision or agency of the government of a foreign country. ( entité ) Minister means the Minister of Finance. ( ministre ) participating province means a province other than (a) a territory; and (b) a province providing a comprehensive pension plan as defined in subsection 3(1) of the Canada Pension Plan . ( province participante ) subsidiary means a corporation that is wholly owned by the Board directly or indirectly through any number of subsidiaries each of which is wholly owned directly or indirectly by the Board. ( filiale ) 1997, c. 40, s. 2; 1999, c. 3, s. 19; 2002, c. 7, s. 112(E); 2003, c. 5, s. 12
Canada Pension Plan Investment Board Act — C-8.3
appropriate provincial Minister , in respect of a province, means the province’s minister of the Crown who has primary responsibility for that province’s finances. ( ministre provincial compétent )
Canada Pension Plan Investment Board Act — C-8.3
Board means the Canada Pension Plan Investment Board established by section 3. ( Office )
Canada Pension Plan Investment Board Act — C-8.3
by-law means a by-law of the Board. ( Version anglaise seulement )
Canada Pension Plan Investment Board Act — C-8.3 (a)
court means (a) in the Province of Ontario, the Ontario Court (General Division); (b) in the Province of Quebec, the Superior Court of the Province; (c) in the Provinces of Nova Scotia and British Columbia, the Supreme Court of the Province; (d) in the Provinces of New Brunswick, Manitoba, Saskatchewan and Alberta, the Court of Queen’s Bench for the Province; (e) in the Provinces of Prince Edward Island and Newfoundland, the trial division of the Supreme Court of the Province; and (f) the Supreme Court of Yukon, the Supreme Court of the Northwest Territories and the Nunavut Court of Justice. ( tribunal )
Canada Pension Plan Investment Board Act — C-8.3 (a)
designated security means (a) an obligation (i) that, before April 1, 1998, was held to the credit of the Canada Pension Plan Investment Fund, as established under subsection 109(1) of the Canada Pension Plan , (ii) that, as applied to Canada, is an obligation of the Government of Canada and, as applied to a province, is an obligation of the government of the province or an obligation of any agent of Her Majesty in right of the province that is guaranteed as to principal and interest by that government, and (iii) that complies with the conditions that were set out in section 111 of the Canada Pension Plan as that section read immediately before April 1, 1998; or (b) an obligation that (i) on or after April 1, 1998, was purchased by the Minister of Finance under section 110 of the Canada Pension Plan or is purchased by the Board under section 6.1, and (ii) is an obligation of the government of a province or an obligation of any agent of Her Majesty in right of a province that is guaranteed as to principal and interest by that government. ( titre désigné )
Canada Pension Plan Investment Board Act — C-8.3
entity means a body corporate, a trust, a partnership, a fund, an unincorporated association or organization, Her Majesty in right of Canada or of a province or an agency of Her Majesty in right of Canada or of a province and the government of a foreign country or any political subdivision or agency of the government of a foreign country. ( entité )
Canada Pension Plan Investment Board Act — C-8.3
Minister means the Minister of Finance. ( ministre )
Canada Pension Plan Investment Board Act — C-8.3 (a)
participating province means a province other than (a) a territory; and (b) a province providing a comprehensive pension plan as defined in subsection 3(1) of the Canada Pension Plan . ( province participante )
Canada Pension Plan Investment Board Act — C-8.3
subsidiary means a corporation that is wholly owned by the Board directly or indirectly through any number of subsidiaries each of which is wholly owned directly or indirectly by the Board. ( filiale )
Canada Pension Plan Investment Board Act — C-8.3 3
Board established 3 (1) There is established a corporation to be known as the Canada Pension Plan Investment Board. Not agent of Her Majesty (2) The Board is not an agent of Her Majesty. Not part of federal public administration (3) Directors, officers, employees and agents of the Board are not part of the federal public administration. Act not applicable to Board (4) The Canada Not-for-profit Corporations Act does not apply to the Board. 1997, c. 40, s. 3; 2003, c. 22, s. 224(E); 2009, c. 23, s. 317
Canada Pension Plan Investment Board Act — C-8.3 4
Capital 4 (1) The capital of the Board is $100. The Minister shall pay the capital of the Board out of the Consolidated Revenue Fund. Shares (2) The capital is divided into 10 shares having a par value of $10 each. The shares shall be issued to the Minister to be held on behalf of Her Majesty in right of Canada. Registration (3) The shares issued to the Minister shall be registered by the Board in the name of the Minister.
Canada Pension Plan Investment Board Act — C-8.3 5
Objects 5 The objects of the Board are (a) to assist the Canada Pension Plan in meeting its obligations to contributors and beneficiaries under the Canada Pension Plan ; (b) to manage any amounts transferred to it under sections 108.1 and 108.3 of the Canada Pension Plan , and its right, title or interest in any designated securities, in the best interests of the contributors and beneficiaries under that Act; and (c) to invest its assets with a view to achieving a maximum rate of return, without undue risk of loss, having regard to the factors that may affect the funding of the Canada Pension Plan and the ability of the Canada Pension Plan to meet its financial obligations on any given business day. 1997, c. 40, s. 5; 2003, c. 5, s. 13; 2016, c. 14, s. 57
Canada Pension Plan Investment Board Act — C-8.3 6
Powers of Board 6 (1) The Board has the capacity and, subject to this Act, the rights, powers and privileges of a natural person. No inconsistent business or activity (2) The Board and its subsidiaries shall not, directly or indirectly, carry on any business or activity or exercise any power that is inconsistent with the Board’s objects, or that the Board is restricted by this Act from carrying on or exercising, and shall not, directly or indirectly, exercise any of its powers in a manner contrary to this Act. No invalidity (3) No act of the Board, including a transfer of property, is invalid by reason only that the Board was without the capacity or power to so act.
Canada Pension Plan Investment Board Act — C-8.3 7
Board of directors 7 The Board shall be managed by a board of directors of 12 directors, including the Chairperson.
Canada Pension Plan Investment Board Act — C-8.3 8
Principal duties 8 (1) Subject to this Act, the board of directors shall manage or supervise the management of the business and affairs of the Board. Specific duties (2) Without limiting the generality of subsection (1), the board of directors shall (a) establish written investment policies, standards and procedures in accordance with section 35; (b) establish procedures for the identification of potential conflicts of interest and procedures to resolve those conflicts; (c) establish a code of conduct for officers and employees of the Board; and (d) designate a committee of the board of directors to monitor application of the conflict of interest procedures and the code of conduct.
Canada Pension Plan Investment Board Act — C-8.3 9
Power to delegate 9 (1) Subject to subsection (2) and the by-laws, the board of directors may delegate to the Chairperson, to a committee of the board of directors or to any officer of the Board any of the powers or duties of the board of directors. Limits on power (2) The board of directors may not delegate the power to (a) adopt, amend or repeal by-laws; (b) establish the Board’s investment policies, standards and procedures; (c) fill a vacancy in a committee of directors or in the office of auditor of the Board; (d) appoint officers to the Board or fix their remuneration; or (e) approve the annual financial statements of the Board and any other financial statements issued by the Board.
Canada Pension Plan Investment Board Act — C-8.3 11
Resignation 11 (1) The resignation of a director becomes effective at the time the Board receives a written resignation or at the time specified in the resignation, whichever is later. Copy of resignation (2) The Board shall send a copy of a director’s resignation to the Clerk of the Privy Council within 15 days after receiving it.
Canada Pension Plan Investment Board Act — C-8.3 12
Chairperson 12 (1) The Governor in Council shall, on the recommendation of the Minister made after the Minister has consulted with the board of directors and the appropriate provincial Ministers of the participating provinces, designate one of the directors as Chairperson to hold office during good behaviour for such term as the Governor in Council deems appropriate. Removal (2) The Governor in Council may remove the Chairperson for cause. Presiding at meetings (3) The Chairperson shall preside at all meetings of the board of directors and may exercise such powers and perform such duties and functions as are specified by the board of directors. Replacement of Chairperson (4) Where the Chairperson is absent at any meeting of the board of directors, one of the directors present who is chosen to so act by the directors present shall preside and have all the powers, duties and functions of the Chairperson. Remuneration of Chairperson (5) The Chairperson is entitled to receive from the Board such remuneration and benefits as may be fixed by the by-laws, which remuneration and benefits shall be fixed having regard to the remuneration and benefits received by persons having similar responsibilities and engaged in similar activities.
Canada Pension Plan Investment Board Act — C-8.3 13
Appointment of officers 13 (1) The board of directors may, subject to the by-laws, designate the offices of the Board, appoint officers of the Board and specify their duties. Directors not officers (2) A director is not eligible to be appointed an officer of the Board. Two or more offices (3) A person may hold two or more offices of the Board.