Asia-Pacific Foundation of Canada Act (R.S.C., 1985, c. A-13)

Act current to 2014-09-29 and last amended on 2012-03-16. Previous Versions

Marginal note:Foundation not owned by Crown

 For greater certainty, the Foundation is not, for the purposes of Part X of the Financial Administration Act or for any other purpose, to be considered to be wholly owned directly by Her Majesty in right of Canada.

  • 2005, c. 30, s. 73.

REGISTERED CHARITY

Marginal note:Foundation deemed registered charity

 Subject to section 29, the Foundation shall, for the purposes of the Income Tax Act, be deemed to be a registered charity within the meaning of that expression for the purposes of that Act.

  • R.S., 1985, c. A-13, s. 28;
  • 1999, c. 31, s. 246(F).
Marginal note:Ceases to be registered charity

 The Foundation shall, for all purposes, cease to be deemed to be a registered charity within the meaning of the Income Tax Act if the aggregate of amounts for which it has issued receipts that contain prescribed information pursuant to that Act are not used in accordance with the provisions of that Act governing expenditures by charitable organizations.

  • R.S., 1985, c. A-13, s. 29;
  • 1999, c. 31, s. 246(F).
Marginal note:Profits

 Subject to any by-law of the Foundation providing for the payment of any expenses to the members of the Board or any remuneration to the officers, employees and agents of the Foundation, any profits of the Foundation or accretions to the value of the property of the Foundation shall be used to further the activities of the Foundation and no part of the property or profits of the Foundation may be distributed, directly or indirectly, to any member of the Board or member of the Foundation.

  • 1984, c. 12, s. 30.

FINANCIAL

 [Repealed, 2005, c. 30, s. 74]

 [Repealed, 2005, c. 30, s. 74]

Marginal note:Grants, contributions and donations
  •  (1) Subject to subsection (3), the Foundation may accept grants, contributions and conditional or unconditional donations of money from any person, including the Government of Canada and the government of a province.

  • Marginal note:Use of grants, contributions and donations

    (2) All grants, contributions and donations of money received by the Foundation, and any income arising from the investment of those grants, contributions and donations, shall be used by the Foundation in fulfilling its purpose and in accordance with the terms and conditions of any agreement for the provision of funding.

  • Marginal note:Conditional grants, contributions and donations

    (3) The Foundation may not accept a grant, contribution or donation of money that is made on the condition that the Foundation use the grant, contribution or donation, or any income arising from it, for any purpose that is not consistent with the purpose of the Foundation.

  • R.S., 1985, c. A-13, s. 33;
  • 2005, c. 30, s. 75.