42 (1) The Corporation must submit an application for continuance under one of the following Acts for the Minister’s approval:
(a) the Canada Business Corporations Act;
(b) the Canada Cooperatives Act; or
(c) the Canada Not-for-profit Corporations Act.
(2) The application must be submitted to the Minister within four years, or any shorter period specified by the Minister, after the day on which this Part comes into force.
Submission to applicable authorities
(3) Once the application has been approved by the Minister, the Corporation must submit the application to the applicable authorities under the relevant Act.
Application not invalid
(4) The application is not invalid solely because the Corporation is incorporated by an Act of Parliament.