Canada Foundation for Sustainable Development Technology Act (S.C. 2001, c. 23)
Full Document:
Assented to 2001-06-14
WINDING-UP
Marginal note:Property to be divided
32. 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.
GENERAL
Marginal note:Official Languages Act applies
33. The Official Languages Act applies to the Foundation as if it were a federal institution.
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.
DESIGNATION AND AMENDMENTS CONSEQUENTIAL ON IT
Marginal note:Designation by Governor in Council
35. (1) The Governor in Council may, by order, designate, for the purposes of this Act, any corporation incorporated under Part II of the Canada Corporations Act, being chapter C-32 of the Revised Statutes of Canada, 1970.
Marginal note:Sections 36 to 39 apply
(2) If an order is made under subsection (1), sections 36 to 39 apply as of the day on which that order is made.
36. (1) The definitions “board” and “Foundation” in section 2 are replaced by the following:
“board”
« conseil »
“board” means the board of directors of the Foundation.
“Foundation”
« Fondation »
“Foundation” means the Canada Foundation for Sustainable Development Technology referred to in section 3.
(2) Section 2 is amended by adding the following in alphabetical order:
“corporation”
« société »
“corporation” means the corporation described in the order made under subsection 35(1).
37. Section 3 and the heading before it are replaced by the following:
CONTINUATION OF THE CORPORATION
Marginal note:Continuation
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.
Marginal note:References
(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.
Marginal note:By-laws
(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.
38. Subsection 9(1) is replaced by the following:
Marginal note:Continuation of board of directors of corporation
9. (1) The board of directors of the corporation ceases to exist and there shall be a board of directors of the Foundation that shall supervise the management of the business and affairs of the Foundation and, subject to the by-laws of the Foundation, exercise all its powers.
39. Subsections 13(1) and (2) are replaced by the following:
Marginal note:Members of the corporation
13. (1) The persons who are members of the corporation cease to be members of the corporation.
Marginal note:Appointing of members
(1.1) There shall be 15 members of the Foundation.
Marginal note:First members
(2) The Governor in Council shall without delay appoint seven persons as members of the Foundation, on the recommendation of the Minister, as proposed by the Minister of Natural Resources and the Minister of the Environment, after consultation with the Minister of Industry.
COMING INTO FORCE
Marginal note:Coming into force
40. This Act comes into force on a day to be fixed by order of the Governor in Council.
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