C-391
First Session, Forty-first Parliament,
60-61 Elizabeth II, 2011-2012
HOUSE OF COMMONS OF CANADA
BILL C-391
An Act to amend the Currency Act and the Royal Canadian Mint Act (calling in of the cent)
first reading, February 9, 2012
NOTE
2nd Session, 41st Parliament
This bill was introduced during the First Session of the 41st Parliament. Pursuant to the Standing Orders of the House of Commons, it is deemed to have been considered and approved at all stages completed at the time of prorogation of the First Session. The number of the bill remains unchanged.
Mr. Martin
411005
SUMMARY
This enactment amends the Currency Act and the Royal Canadian Mint Act to provide that one cent coins will not be legal tender beginning on January 1 of the year immediately following the year in which the enactment is assented to, and will be called in following a proclamation by the Governor in Council.
Available on the Parliament of Canada Web Site at the following address:http://www.parl.gc.ca
1st Session, 41st Parliament,
60-61 Elizabeth II, 2011-2012
house of commons of canada
BILL C-391
An Act to amend the Currency Act and the Royal Canadian Mint Act (calling in of the cent)
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
R.S., c. C-52
CURRENCY ACT
1. Section 7 of the Currency Act is amended by adding the following after subsection (2):
Cent not current
(3) Notwithstanding subsection (1), beginning on January 1 of the year immediately following the year in which this Act receives royal assent, a coin shall not pass current.
2. (1) Subsection 8(2) of the Act is amended by adding “and” at the end of paragraph (c), by striking out “and” at the end of paragraph (d) and by repealing paragraph (e).
(2) Section 8 of the Act is amended by adding the following after subsection (2):
Cash transactions
(2.01) Beginning on January 1 of the year immediately following the year in which this Act receives royal assent, every amount payable in cash shall be rounded as follows:
(a) one and two cents, rounded down to the nearest ten cents;
(b) three and four cents, rounded up to the nearest five cents;
(c) six and seven cents, rounded down to the nearest five cents; and
(d) eight and nine cents, rounded up to the nearest ten cents. 
3. Subsection 9(1) of the Act is replaced by the following:
Calling in and ceasing production of coins of one cent
9. (1) The Governor in Council
(a) shall, not later than January 1 of the year immediately following the year in which this Act receives royal assent, by proclamation, call in all coins of a denomination of one cent, in exchange for coins or notes of a denomination of five cents or more; and
(b) may, by proclamation, call in any other coins of any date and denomination.
R.S., c. R-9
ROYAL CANADIAN MINT ACT
4. Section 6.4 of the Royal Canadian Mint Act is amended by adding the following after subsection (2):
One cent coins
(3) Any order made under subsection (1) in respect of a one cent coin is revoked and without further effect.
5. Items 7 to 9 of Part 2 of the schedule to the Act are repealed.
Published under authority of the Speaker of the House of Commons