Canada Cooperatives Act (S.C. 1998, c. 1)

Act current to 2018-07-05 and last amended on 2018-05-01. Previous Versions

Marginal note:Powers of inspector
  •  (1) An inspector appointed under this Part has the powers set out in the order appointing the inspector.

  • Marginal note:Exchange of information

    (2) In addition to the powers set out in the order appointing an inspector, the inspector may provide information to, or exchange information and otherwise cooperate with, any public official in Canada or elsewhere who

    • (a) is authorized to exercise investigatory powers; and

    • (b) is investigating, in respect of the cooperative, any allegation of improper conduct that is the same as or similar to the conduct described in subsection 329(2).

  • Marginal note:Court order

    (3) An inspector must, on the request of an interested person, produce a copy of any order made under subsection 330(1).

Marginal note:Hearing in private
  •  (1) Any interested person may apply to the court for an order that a hearing under this Part be heard in private and for directions on any matter arising in the investigation.

  • Marginal note:Right to counsel

    (2) A person whose conduct is being investigated or who is being examined at a hearing conducted under this Part has the right to be represented by counsel.

Marginal note:Incriminating statements

 No person is excused from attending and giving evidence and producing documents to an inspector under this Part by reason only that the evidence tends to incriminate the person or subject the person to a proceeding or penalty, but no such evidence may be used or is receivable against the person in any later proceeding instituted under an Act of Parliament, other than a prosecution for perjury in giving the evidence or a prosecution under section 132 or 136 of the Criminal Code in respect of the evidence.

Marginal note:Absolute privilege — defamation

 Any oral or written statement or report made by an inspector or other person in an investigation under this Part has absolute privilege.

Marginal note:Membership shares included
  •  (1) For the purposes of this section, a security includes a membership share or an interest or right in one.

  • Marginal note:Information respecting ownership and control

    (2) If the Director is satisfied that, for the purposes of Part 9 or 10 or for the purposes of enforcing any regulation made under section 130, there is reason to inquire into the ownership or control of a security of a cooperative or any of its affiliates, the Director may require any person that the Director reasonably believes has or has had an interest or right in the security or acts or has acted on behalf of a person with such an interest or right to report to the Director or to any designated person,

    • (a) information that the person has or can reasonably be expected to obtain as to present and past interests or rights in the security; and

    • (b) the names and addresses of the persons who have or have had such an interest or right and of any person who acts or has acted in relation to the security on behalf of such persons.

  • Marginal note:Deemed interest or right in securities

    (3) For the purposes of subsection (2), a person is deemed to hold an interest or right in a security if

    • (a) in the case of a membership share, the person is or is entitled to be entered in the records of the cooperative as the owner of the membership share; and

    • (b) in the case of an investment share,

      • (i) the person has a right to vote or to acquire or dispose of the investment share or an interest or right in it,

      • (ii) the person’s consent is necessary for the exercise of the rights or privileges of any other person with an interest or right in the investment share, or

      • (iii) any other person with an interest or right in the investment share can be required or is accustomed to exercise rights or privileges attached to it in accordance with that person’s instructions.

  • Marginal note:Publication

    (4) The Director must publish, in a publication generally available to the public, the particulars of information obtained under this section if the particulars

    • (a) are required by this Act or the regulations to be disclosed; and

    • (b) have not previously been so disclosed.

  • 1998, c. 1, s. 335;
  • 2011, c. 21, s. 112;
  • 2018, c. 8, s. 84(F).
Marginal note:Solicitor-client privilege or professional secrecy

 Nothing in this Part may be construed as affecting solicitor-client privilege or, in Quebec, the professional secrecy of advocates and notaries.

  • 1998, c. 1, s. 336;
  • 2011, c. 21, s. 113(E).
Marginal note:Inquiries

 The Director may make inquiries of any person relating to compliance with this Act.

PART 18.1Apportioning Award of Damages

Interpretation and Application

Marginal note:Definitions

 The definitions in this section apply in this Part.

financial interest

intérêt financier

financial interest, with respect to a cooperative, includes

  • (a) a security;

  • (b) a title to or an interest in capital, assets, property, profits, earnings or royalties;

  • (c) an option or other interest in, or a subscription to, a security;

  • (d) an agreement under which the interest of the purchaser is valued for purposes of conversion or surrender by reference to the value of a proportionate interest in a specified portfolio of assets;

  • (e) an agreement providing that money received will be repaid or treated as a subscription for shares, units or interests at the option of any person or the cooperative;

  • (f) a profit-sharing agreement or certificate;

  • (g) a lease, claim or royalty in oil, natural gas or mining, or an interest in the lease, claim or royalty;

  • (h) an income or annuity contract that is not issued by an insurance company governed by an Act of Parliament or a law of a province;

  • (i) an investment contract; and

  • (j) anything that is prescribed to be a financial interest. (intérêt financier)

financial loss

perte financière

financial loss means a financial loss arising out of an error, omission or misstatement in financial information concerning a cooperative that is required under this Act or the regulations. (perte financière)

third party

Version anglaise seulement

third party includes any subsequent party that is joined in proceedings before a court. (Version anglaise seulement)

  • 2001, c. 14, s. 218.
Marginal note:Application of Part
  •  (1) This Part applies to the apportionment of damages awarded to a plaintiff for financial loss after a court has found more than one defendant or third party responsible for the financial loss.

  • Marginal note:Non-application of Part

    (2) This Part does not apply to an award of damages to any of the following plaintiffs:

    • (a) Her Majesty in right of Canada or of a province;

    • (b) an agent of Her Majesty in right of Canada or of a province or a federal or provincial Crown corporation or government agency, unless a substantial part of its activities involves trading, including making investments in, securities or other financial instruments;

    • (c) a charitable organization, private foundation or public foundation within the meaning of subsection 149.1(1) of the Income Tax Act; or

    • (d) an unsecured creditor in respect of goods or services that the creditor provided to a cooperative.

  • 2001, c. 14, s. 218.
 
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