Air Canada Public Participation Act (R.S.C., 1985, c. 35 (4th Supp.))

Act current to 2014-06-12 and last amended on 2007-06-22. Previous Versions

Marginal note:Qualification of shares
  •  (1) For the purpose of qualifying the shares of the Corporation

    • (a) as an authorized investment under paragraph 86(n) of the Canadian and British Insurance Companies Act, paragraph 61(1)(j) of the Loan Companies Act or paragraph 78(1)(j) of the Trust Companies Act,

    • (b) as a permitted investment under paragraph 1(n) of Schedule III to the Pension Benefits Standards Regulations, 1985, and

    • (c) as assets that may be vested in trust in Canada under paragraph 1(n) of Schedule II to the Canadian and British Insurance Companies Act or paragraph 1(n) of the schedule to the Foreign Insurance Companies Act,

    the Corporation is deemed to have satisfied the requirements of those paragraphs with respect to each of the five years immediately preceding the issuance date.

  • Marginal note:Qualification of debt obligations

    (2) For the purpose of qualifying the bonds, debentures or other evidences of indebtedness of the Corporation

    • (a) as an authorized investment under subparagraph 86(k)(i) of the Canadian and British Insurance Companies Act, paragraph 61(1)(g) of the Loan Companies Act or paragraph 78(1)(g) of the Trust Companies Act,

    • (b) as a permitted investment under paragraph 1(m) of Schedule III to the Pension Benefits Standards Regulations, 1985, and

    • (c) as assets that may be vested in trust in Canada under subparagraph 1(k)(i) of Schedule II to the Canadian and British Insurance Companies Act or subparagraph 1(k)(i) of the schedule to the Foreign Insurance Companies Act,

    the Corporation is deemed to have satisfied the requirements of the paragraphs referred to in subsection (1) with respect to each of the five years immediately preceding the issuance date.

Consequential Amendments

 [Amendments]

Repeal

Marginal note:Repeal of R.S., c. A-10
  •  (1) The Air Canada Act is repealed on the day on which the Corporation becomes a corporation to which the Canada Business Corporations Act applies.

  • Marginal note:Director to give notice

    (2) The Director is not required to comply with subsection 187(6) of the Canada Business Corporations Act in respect of the Corporation, but the Director shall, on issuing the certificate of continuance of the Corporation, cause a notice to be published in the Canada Gazette setting out the date on which the certificate was issued and on which the Air Canada Act was repealed.

  • R.S., 1985, c. 35 (4th Supp.), s. 14;
  • 1994, c. 24, s. 34(F).