Budget Implementation Act, 1997 (S.C. 1997, c. 26)

Marginal note:Staff

• 17. (1) The board may appoint such officers, employees and agents of the foundation as they consider necessary to carry out the objects and purposes of the foundation.

• Marginal note:Designation of offices

  (2) Subject to the by-laws of the foundation, the board may designate the offices of the foundation and specify the duties and functions of each office.

• Marginal note:Directors not employees or agents

  (3) Directors and members are not eligible to be employed as employees or agents of the foundation.

• Marginal note:Not part of public service of Canada

  (4) The directors, members, officers, employees and agents of the foundation are not, because of being a director, member, officer, employee or agent of the foundation, part of the federal public administration.

Marginal note:Administrative expenses

18. From and out of its funds, the foundation may pay salaries and wages of its officers and employees, rent for its accommodation, remuneration for its directors and agents, reimbursement to the directors and members for their reasonable out-of-pocket expenses, and other costs and expenses of carrying on the business of the foundation.

Marginal note:Assistance for eligible projects

• 19. (1) From and out of its funds, the foundation may make grants to eligible recipients to be used by them solely for the purposes of eligible projects in accordance with any terms and conditions specified by the foundation in respect of the grants.

• Marginal note:Limits on financial assistance

  (2) In making grants to an eligible recipient in respect of an eligible project, the foundation shall not acquire any interest, whether through the acquisition of share capital, a partnership interest or otherwise, in any research infrastructure acquired by the recipient for the project.

• Marginal note:Agreements relating to assistance

  (3) For the purpose of assisting an eligible recipient in completing an eligible project, the foundation may enter into agreements with the recipient respecting, among other things, the manner in which the foundation will make advances in respect of a grant to the recipient, when those advances will be made and any terms or conditions on which the grant will be made.

Marginal note:Donations to foundation

• 20. (1) Subject to subsection (3), the foundation may accept donations of money.

• Marginal note:Use of donations

  (2) All money donated to the foundation, and any income arising from the investment of the money, shall be used by the foundation in carrying out its objects and purposes.

• Marginal note:Conditional donations

  (3) The foundation shall not accept a donation of money that is made on the condition that the foundation use the money or any income arising from the investment of the money for any purpose that is not within the objects and purposes of the foundation.

• Marginal note:Exception

  (4) Subsection (3) does not apply where the conditions of a donation of money merely restrict or direct the manner of investing the money until it can be used to make grants to eligible recipients for eligible projects.