CONTINUATION OF THE CORPORATION
3. (1) The corporation is continued as a corporation without share capital, to be called the Canada Foundation for Sustainable Development Technology, consisting of the Foundation’s members and directors.
Marginal note:Powers, duties and functions
(2) If under any Act of Parliament, any instrument made under an Act of Parliament or any contract, licence or other document, a power, duty or function is vested in or exercisable by the corporation, the power, duty or function is vested in or exercisable by the Foundation.
(3) Every reference to the corporation in any deed, contract, agreement or other document executed by the corporation shall, unless the context otherwise requires, be read as a reference to the Foundation.
Marginal note:Rights and obligations
(4) All rights and property of the corporation and all obligations of the corporation are transferred to the Foundation.
Marginal note:Commencement of legal proceedings
(5) Any action, suit or other legal proceeding in respect of an obligation or liability incurred by the corporation may be brought against the Foundation 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
(6) Any action, suit or other legal proceeding to which the corporation is party pending in any court immediately before the day on which this section comes into force may be continued by or against the Foundation in like manner and to the same extent as it could have been continued by or against the corporation.
(7) Every by-law of the corporation is, to the extent that it is not inconsistent with this Act, a by-law of the Foundation.
Marginal note:Officers and employees
(8) Nothing in this Act affects the status of any person who, immediately before the day on which this section comes into force, was an officer or employee of the corporation except that, as of that day, the person is an officer or employee, as the case may be, of the Foundation.
- 2001, c. 23, ss. 3, 37.
Marginal note:Foundation not agent of Her Majesty
4. The Foundation is not an agent of Her Majesty.
Marginal note:Objects and purposes of Foundation
5. The objects and purposes of the Foundation are to provide funding to eligible recipients for eligible projects.
6. For the purposes of carrying out its objects and purposes, the Foundation has the capacity and, subject to this Act, the rights, powers and privileges of a natural person.
Marginal note:Head office
7. The head office of the Foundation shall be in a place in Canada designated by the Governor in Council.
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