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An Act to amend the Canada Business Corporations Act and the Canada Cooperatives Act and to amend other Acts in consequence (S.C. 2001, c. 14)

Assented to 2001-06-14

 Subsection 377(1) of the Act is replaced by the following:

Marginal note:Inspection
  • 377. (1) A person who has paid the required fee is entitled during usual business hours to examine a document required by this Act or the regulations to be sent to the Director, except a report sent under subsection 330(2), and to make copies of it or take extracts from it.

 Subsection 378(3) of the Act is replaced by the following:

  • Marginal note:Retention of records

    (3) The Director is not required to produce any document, other than a certificate and attached articles or statement filed under section 373, after the expiration of the prescribed period.

TRANSITIONAL PROVISIONS

 Part XIX.1 of the Canada Business Corporations Act, as enacted by section 115 of this Act, does not apply to any proceeding commenced before the coming into force of that section.

 Part 18.1 of the Canada Cooperatives Act, as enacted by section 218 of this Act, does not apply to any proceeding commenced before the coming into force of that section.

CONSEQUENTIAL AMENDMENTS

1997, c. 26Budget Implementation Act, 1997

 Paragraph 8(2)(n) of the Budget Implementation Act, 1997 is replaced by the following:

  • (n) subsections 124(1) to (6) (indemnification of directors and insurance for director’s liability);

R.S., c. C-10Canada Post Corporation Act

Marginal note:1993, c. 17, s. 1

 Section 27 of the Canada Post Corporation Act is replaced by the following:

Marginal note:Canada Business Corporations Act
  • 27. (1) The definitions “beneficial ownership”, “debt obligation”, “redeemable share”, “security”, “security interest” and “special resolution” in subsection 2(1) and sections 23 to 26, 34, 36 to 38 (except subsection 38(6)), 42, 43, 50, 172 and 257 of the Canada Business Corporations Act apply, with such modifications as the circumstances require, in respect of the Corporation as if the references therein to articles were references to the by-laws of the Corporation.

  • Marginal note:Assets of Corporation

    (2) For the purposes of applying subsections 34(2), 36(2) and 38(3) and section 42 of the Canada Business Corporations Act in respect of the Corporation, the assets held by the Corporation as an agent of Her Majesty in right of Canada shall be deemed to be assets of the Corporation.

COMING INTO FORCE

Marginal note:Coming into force

 The provisions of this Act come into force on a day or days to be fixed by order of the Governor in Council.

 

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