Marginal note:Weekly financial information
Marginal note:Monthly balance sheet
(2) The Bank shall, as soon as practicable after the last business day of each month, post on its website its balance sheet as at the close of business on that day. The balance sheet shall set out information regarding the Bank’s investments in securities issued or guaranteed by the Government of Canada.
- R.S., 1985, c. B-2, s. 29
- 1997, c. 15, s. 104
- 2001, c. 9, s. 199
- 2007, c. 6, s. 397
- 2012, c. 5, s. 184
Marginal note:Fiscal year
Marginal note:Financial statements to Minister
(2) Within two months after the end of each financial year, the Bank shall send to the Minister its audited financial statements for the financial year, in the form prescribed by the by-laws of the Bank.
Marginal note:Signing of statements
(2.1) The financial statements must be signed by the Governor or the Deputy Governor and the Chief Accountant or Acting Chief Accountant of the Bank.
Marginal note:Other information
(2.2) The financial statements must be accompanied by any summary or report by the Governor that the Governor considers desirable or that is required by the Minister. A copy of the signed and audited financial statements must without delay be published in the Canada Gazette.
Marginal note:Report to Parliament
(3) The Minister shall lay the copy of the accounts and Governor’s report mentioned in subsection (2) before Parliament on any of the first twenty-one days that either House of Parliament is sitting after the Minister receives it.
- R.S., 1985, c. B-2, s. 30
- 1997, c. 15, s. 105
Marginal note:No liability if in good faith
30.1 No action lies against Her Majesty, the Minister, any officer, employee or director of the Bank or any person acting under the direction of the Governor for anything done or omitted to be done in good faith in the administration or discharge of any powers or duties that under this Act are intended or authorized to be executed or performed.
- 2001, c. 9, s. 200
Offences and Punishment
Marginal note:Holding office when ineligible
31 Every person who holds office or continues to hold office as the Governor or as a Deputy Governor or director of the Bank, knowing that he or she is not eligible for that office, is guilty of an offence and liable on summary conviction to a fine of not more than one hundred thousand dollars or to imprisonment for a term of not more than six months or to both.
- R.S., 1985, c. B-2, s. 31
- 2001, c. 9, s. 201
Marginal note:Verifying false statement, account or list
32 Every director, officer or auditor of the Bank who verifies any statement, account or list required to be furnished to the Minister pursuant to this Act, or who has to do with the delivering or transmitting of that statement, account or list to the Minister, knowing it to be false in any material particular, is guilty of an offence and liable on summary conviction to a fine of not more than one hundred thousand dollars or to imprisonment for a term of not more than six months or to both.
- R.S., 1985, c. B-2, s. 32
- 2001, c. 9, s. 201
Marginal note:Contravention of Act
33 Any officer of the Bank or any officer of a bank or any other person who fails or omits to comply with any provision of this Act is guilty of an offence and, unless otherwise provided by this Act, liable on summary conviction to a fine of not more than one hundred thousand dollars or to imprisonment for a term of not more than six months or to both.
- R.S., 1985, c. B-2, s. 33
- 2001, c. 9, s. 201
Liquidation or Winding-up
Marginal note:Insolvency and winding-up
34 No statute relating to the insolvency or winding-up of any corporation applies to the Bank and in no case shall the affairs of the Bank be wound up unless Parliament so provides, but if provision is made for winding up the Bank the notes of the Bank outstanding are the first charge on the assets.
- R.S., c. B-2, s. 30
(a) the calling of meetings of the Board and of the Executive Committee and what number of persons shall constitute a quorum in each case, and how questions considered at those meetings shall be determined;
(b) the fees of directors;
(c) the duties and conduct of officers and employees of the Bank;
(d) the form of the annual statement of accounts; and
(e) generally, the management and disposition of the stock, property and undertakings of the Bank.
- R.S., 1985, c. B-2, s. 35
- 1997, c. 15, s. 106(E)
- 2001, c. 4, s. 60(F)
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