Marginal note:Procurement of dissolution

• 50. (1) The Minister of Finance is hereby authorized to procure the dissolution of the Corporation.

• Marginal note:References

  (2) On the dissolution of the Corporation, every reference to the Canada Development Investment Corporation in any deed, contract or other document executed by that Corporation shall, unless the context otherwise requires, be read as a reference to Her Majesty in right of Canada.

• Marginal note:Closing out affairs

  (3) The Minister of Finance may do all things and perform all acts necessary for or incidental to closing out the affairs of the Corporation.

Marginal note:Commencement of legal proceedings

• 51. (1) Any action, suit or other legal proceeding in respect of an obligation or liability incurred by the Corporation, or by the Minister of Finance in closing out the affairs of that corporation, may be brought against Her Majesty in right of Canada in any court that would have had jurisdiction if the action, suit or other legal proceeding had been brought against the Corporation.

• Marginal note:Continuation of legal proceedings

  (2) Any action, suit or other legal proceeding to which the Corporation is party pending in any court on the coming into force of this section may be continued by or against Her Majesty in right of Canada in like manner and to the same extent as it could have been continued by or against the Corporation.

Marginal note:Adjustment of accounts of Canada

52. The Minister of Finance, after consultation with the President of the Treasury Board, shall cause any adjustments to be made in the accounts of Canada that are required as a result of any transaction authorized or required under this Part.

53. to 55. [Amendments]

Marginal note:Coming into force

Footnote ^*56.  Sections 53 to 55 come into force on a day to be fixed by order of the Governor in Council.

• Return to footnote ^*[Note: Sections 53 to 55 repealed before coming into force, see 2008, c. 20, s. 3.]

Marginal note:Suspension of separation benefit

• 57. (1) A person to whom a notice of surplus status is given between July 15, 1995 and March 31, 1998 who subsequently elects to receive an annual benefit under section 4 of the Retirement Compensation Arrangements Regulations, No. 2 and who ceases to be employed in the Public Service between June 23, 1998 and September 30, 1998 is not entitled to a separation benefit under the Work Force Adjustment Directive.

• Marginal note:Definitions

  (2) For the purpose of subsection (1), “notice of surplus status”, “Public Service” and “Work Force Adjustment Directive” have the same meaning as in subsection 2(1) of the Retirement Compensation Arrangements Regulations, No. 2.