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Asia-Pacific Foundation of Canada Act (R.S.C., 1985, c. A-13)

Act current to 2022-08-08 and last amended on 2012-03-16. Previous Versions

Remuneration and Expenses

Marginal note:Chairperson and other directors

 The Chairperson and the other directors, other than the President, shall serve without remuneration, but may be paid such travel and living expenses while absent from their ordinary place of residence in connection with the activities of the Foundation as are fixed by by-law of the Board.

  • R.S., 1985, c. A-13, s. 22
  • 2005, c. 30, ss. 71(F), 80(E)

Marginal note:President

 The President shall be paid such remuneration and expenses as are fixed by the Board.

  • R.S., 1985, c. A-13, s. 23
  • 2005, c. 30, s. 71(F)

Marginal note:Acting President

 An acting President shall be paid such remuneration and expenses as are fixed by the Board.

  • 1984, c. 12, s. 24

Committees

Marginal note:Committees

 The Board may appoint an Executive Committee or advisory or other committees under such terms and conditions as the Board may by by-law provide.

  • 1984, c. 12, s. 25

Marginal note:Audit and evaluation committee

  •  (1) The Board shall appoint an audit and evaluation committee consisting of not fewer than three directors and fix the duties and functions of the committee and may, by by-law, provide for the payment of expenses to the members of the committee.

  • Marginal note:Internal audit

    (2) In addition to any other duties and functions that it is required to perform, the audit and evaluation committee shall cause internal audits to be conducted to ensure compliance by the officers and employees of the Foundation with management systems and controls established by the Board.

  • 2005, c. 30, s. 72

By-laws

Marginal note:By-laws

 The Board may make by-laws respecting,

  • (a) the procedure in all business at meetings of the Board or its committees, if any;

  • (b) the expenses to be paid to the members of the Board;

  • (c) the constitution of committees appointed pursuant to section 25, the role and duties of those committees and the expenses, if any, to be paid to the members of those committees;

  • (d) the employment or engagement and the remuneration, expenses and duties of officers, employees and agents of the Foundation;

  • (e) membership in the Foundation;

  • (f) the appointment of patrons and honorary officers of the Foundation; and

  • (g) generally, the conduct and management of the affairs of the Foundation.

  • 1984, c. 12, s. 26

Status of Foundation

Marginal note:Not agent of Her Majesty

 The Foundation is not an agent of Her Majesty and the Chairperson, the other directors, the President and the officers and employees of the Foundation are not, by virtue of their office or employment, part of the federal public administration.

  • R.S., 1985, c. A-13, s. 27
  • 2003, c. 22, s. 224(E)
  • 2005, c. 30, ss. 73, 81(E)

Marginal note:Foundation not owned by Crown

 For greater certainty, the Foundation is not, for the purposes of Part X of the Financial Administration Act or for any other purpose, to be considered to be wholly owned directly by Her Majesty in right of Canada.

  • 2005, c. 30, s. 73

Registered Charity

Marginal note:Foundation deemed registered charity

 Subject to section 29, the Foundation shall, for the purposes of the Income Tax Act, be deemed to be a registered charity within the meaning of that expression for the purposes of that Act.

  • R.S., 1985, c. A-13, s. 28
  • 1999, c. 31, s. 246(F)

Marginal note:Ceases to be registered charity

 The Foundation shall, for all purposes, cease to be deemed to be a registered charity within the meaning of the Income Tax Act if the aggregate of amounts for which it has issued receipts that contain prescribed information pursuant to that Act are not used in accordance with the provisions of that Act governing expenditures by charitable organizations.

  • R.S., 1985, c. A-13, s. 29
  • 1999, c. 31, s. 246(F)

Marginal note:Profits

 Subject to any by-law of the Foundation providing for the payment of any expenses to the members of the Board or any remuneration to the officers, employees and agents of the Foundation, any profits of the Foundation or accretions to the value of the property of the Foundation shall be used to further the activities of the Foundation and no part of the property or profits of the Foundation may be distributed, directly or indirectly, to any member of the Board or member of the Foundation.

  • 1984, c. 12, s. 30

Financial

 [Repealed, 2005, c. 30, s. 74]

 [Repealed, 2005, c. 30, s. 74]

Marginal note:Grants, contributions and donations

  •  (1) Subject to subsection (3), the Foundation may accept grants, contributions and conditional or unconditional donations of money from any person, including the Government of Canada and the government of a province.

  • Marginal note:Use of grants, contributions and donations

    (2) All grants, contributions and donations of money received by the Foundation, and any income arising from the investment of those grants, contributions and donations, shall be used by the Foundation in fulfilling its purpose and in accordance with the terms and conditions of any agreement for the provision of funding.

  • Marginal note:Conditional grants, contributions and donations

    (3) The Foundation may not accept a grant, contribution or donation of money that is made on the condition that the Foundation use the grant, contribution or donation, or any income arising from it, for any purpose that is not consistent with the purpose of the Foundation.

  • R.S., 1985, c. A-13, s. 33
  • 2005, c. 30, s. 75

Marginal note:Investment policies

 The Board shall establish investment policies, standards and procedures that a reasonably prudent person would apply in respect of a portfolio of investments to avoid undue risk of loss and obtain a reasonable return, having regard to the Foundation’s obligations and anticipated obligations.

  • 2005, c. 30, s. 75

Marginal note:Investments

  •  (1) Subject to any conditions of a grant, contribution or donation restricting the investment of money, the Foundation shall invest its funds, and reinvest any income from those funds, in accordance with the investment policies, standards and procedures established by the Board.

  • Marginal note:Incorporation of other corporations

    (2) The Foundation may not, without the prior written authorization of the Minister, cause any corporation to be incorporated or participate in the incorporation of a corporation or become a partner in a partnership.

  • 2005, c. 30, s. 75

Winding-up

Meaning of eligible recipient

  •  (1) In this section, eligible recipient means an entity that

    • (a) is established in Canada;

    • (b) meets the criteria of eligibility established by the Foundation in accordance with any agreement entered into between Her Majesty in right of Canada and the Foundation for the provision of funding by Her Majesty in right of Canada to the Foundation; and

    • (c) has legal capacity or is composed of organizations each of which has legal capacity.

  • Marginal note:Property to be divided

    (2) If the Foundation is wound up or dissolved

    • (a) its property remaining after its debts and obligations have been satisfied shall be liquidated;

    • (b) 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, carrying on projects that are consistent with the purpose of the Foundation, to be used by them for those or any other projects that are so consistent; and

    • (c) 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

    (3) Despite subsection (2), 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.

  • R.S., 1985, c. A-13, s. 34
  • 2005, c. 30, s. 76

Audit

Marginal note:Auditor

  •  (1) The Board shall appoint an auditor for the Foundation and fix the auditor’s remuneration.

  • Marginal note:Qualifications of auditor

    (2) In order to be appointed, the auditor must be

    • (a) a natural person who

      • (i) is a member in good standing of an institute or association of accountants incorporated by or under an Act of the legislature of a province,

      • (ii) has at least five years experience at a senior level in carrying out audits,

      • (iii) is ordinarily resident in Canada, and

      • (iv) is independent of the Board, the directors, the officers and, if any, the members of the Foundation; or

    • (b) a firm of accountants of which the member or employee, jointly designated by the Board and the firm to conduct the audit of the books and records of the Foundation on behalf of the firm, meets the qualifications set out in paragraph (a).

  • R.S., 1985, c. A-13, s. 35
  • 2005, c. 30, s. 77

Marginal note:Audit

 The accounts and financial transactions of the Foundation shall be audited annually and a report of the audit shall be made to the Board.

  • 2005, c. 30, s. 77

Report

Marginal note:Annual report

  •  (1) The Board shall, within four months after the end of each fiscal year of the Foundation, submit to the Minister a report, in both official languages, of the activities of the Foundation for that year. The report shall include

    • (a) the financial statements of the Foundation for that year, prepared in accordance with generally accepted accounting principles, and the auditor’s report on those financial statements;

    • (b) a detailed statement of its investment activities during that year and its investment portfolio as at the end of that year;

    • (c) a detailed statement of its funding activities;

    • (d) a statement of its plans for fulfilling its purpose for the next fiscal year; and

    • (e) an evaluation of the overall results achieved by the Foundation.

  • Marginal note:Tabling in Parliament

    (2) The Minister shall cause a copy of the report to be laid before each House of Parliament on any of the first 15 days on which that House is sitting after the Minister receives it.

  • Marginal note:Making report available

    (3) The Board shall, as soon as is practicable after it is tabled under subsection (2), make the report available for public scrutiny.

  • R.S., 1985, c. A-13, s. 36
  • 2005, c. 30, s. 78

Review

Marginal note:Review

  •  (1) The Board shall, within five years after the coming into force of this section and every five years after that, review the Foundation’s activities and organization and submit a report to the Minister on the activities and organization, including a statement of any changes the Board recommends.

  • Marginal note:Tabling in Parliament

    (2) The Minister shall cause a copy of the report to be laid before each House of Parliament on any of the first 15 days on which that House is sitting after the Minister receives it.

  • R.S., 1985, c. A-13, s. 37
  • 2005, c. 30, s. 79
 
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