Marginal note:Public meeting
31. (1) After it publishes its annual report for a fiscal year, the Foundation shall convene a public meeting at a city in Canada selected by the board to consider the report and other matters relating to the activities of the Foundation during the year.
Marginal note:Notice of meeting
(2) At least 30 days before the date of a meeting convened under subsection (1) to consider the Foundation’s annual report for a fiscal year, the Foundation shall give notice of the time and place of the meeting in accordance with the by-laws of the Foundation.
Marginal note:Property to be divided
32. (1) If the Foundation is wound up or dissolved, its property remaining after its debts and obligations have been satisfied shall be liquidated and the moneys arising from the liquidation shall be distributed among all the eligible recipients that have received funding from the Foundation and that are, as of the day the distribution begins, still carrying on projects to develop and demonstrate new technologies to promote sustainable development, to be used by them for the purpose of those projects. Each of those eligible recipients shall receive an amount that is the same proportion of the moneys arising from the liquidation as the total funding received by that eligible recipient from the Foundation is of the total of all funding that has been provided by the Foundation to all of those eligible recipients.
Marginal note:Repayment out of remaining property
(2) Despite subsection (1), the Minister may require the Foundation to repay out of the moneys arising from the liquidation to the Receiver General for credit to the Consolidated Revenue Fund any amount that is so repayable under the terms or conditions on which public moneys were provided to the Foundation.
- 2001, c. 23, s. 32;
- 2003, c. 15, s. 33.
Marginal note:Official Languages Act applies
Marginal note:Mandatory by-laws
34. The Foundation shall include in its by-laws provisions
(a) entitling an eligible recipient that has made an application for funding from the Foundation to request the board to make a ruling as to the possible conflict of interest of a director in the consideration or disposal of the application;
(b) establishing procedures to be followed by the board in responding to the request and giving the ruling;
(c) determining the fiscal year of the Foundation;
(d) requiring the creation of advisory committees, including technical advisory committees, and their mandates; and
(e) fixing the remuneration for directors.
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