Marginal note:Submission to Minister

• 42. (1) The Corporation must submit an application for continuance under one of the following Acts for the Minister’s approval:

  • (a) the Canada Business Corporations Act;

  • (b) the Canada Cooperatives Act; or

  • (c) the Canada Not-for-profit Corporations Act.

• Marginal note:Deadline

  (2) The application must be submitted to the Minister within four years, or any shorter period specified by the Minister, after the day on which this Part comes into force.

• Marginal note:Submission to applicable authorities

  (3) Once the application has been approved by the Minister, the Corporation must submit the application to the applicable authorities under the relevant Act.

• Marginal note:Application not invalid

  (4) The application is not invalid solely because the Corporation is incorporated by an Act of Parliament.

Marginal note:Restriction

43. The Corporation is not entitled to apply for continuance in another jurisdiction.

Marginal note:Simultaneous coming into force

44. This Part comes into force on the day on which Part 2 comes into force.

Marginal note:Ceasing to have effect

45. This Part ceases to have effect on the day on which Part 4 applies.

Marginal note:Application of Part

46. This Part applies only if the Corporation is not continued under Part 3 within five years, or any shorter period specified by the Governor in Council, after the day on which that Part comes into force.

Marginal note:Final pool period

• 47. (1) The Minister must, by order, in respect of each grain, designate one or more pool periods set by the Corporation under section 27 of the Canadian Wheat Board (Interim Operations) Act as a final pool period for the purposes of winding up the Corporation.

• Marginal note:Final payment

  (2) The Corporation must make all payments due under subsection 29(3) of the Canadian Wheat Board (Interim Operations) Act in respect of the final pool period before winding up the Corporation under section 48.

• Marginal note:Exercising powers

  (3) After the end of the final pool period, the Corporation may exercise its powers under the Canadian Wheat Board (Interim Operations) Act only for the purpose of administering that pool period and winding up the Corporation.