International Bridges and Tunnels Act

Marginal note:Letters patent

• 29 (1) The Governor in Council may, on the recommendation of the Minister, issue letters patent of incorporation for the establishment of a corporation, with or without share capital, for the purpose of the corporation constructing or operating an international bridge or tunnel. Letters patent take effect on the date stated in them.

• Marginal note:Contents of letters patent

  (2) The letters patent may include the following:

  • (a) the corporate name of the corporation;

  • (b) the objects of the corporation;

  • (c) provisions specifying the activities that may, or may not, be carried on by the corporation;

  • (d) the place where the registered office of the corporation is located;

  • (e) provisions regarding the keeping of, and access to, records of the corporation;

  • (f) the number of directors to be appointed and provisions governing their appointment, term of office, remuneration, indemnification and removal;

  • (g) provisions regarding the powers, duties and functions of the directors and meetings of the directors;

  • (h) a code of conduct governing the conduct of the directors and officers of the corporation;

  • (i) provisions for the holding of meetings of members or shareholders of the corporation, including an annual public meeting;

  • (j) provisions regarding the ownership of, or membership in, the corporation;

  • (k) provisions regarding the management and control of the corporation;

  • (l) provisions regarding financial statements and corporate finance, including provisions regarding the power of the corporation to borrow money on the credit of the corporation and to issue debt obligations and provide security for its obligations;

  • (m) provisions regarding subsidiaries of the corporation, including the management and control of subsidiaries and their activities;

  • (n) provisions regarding any fundamental changes to the corporation, including the amalgamation, continuance, liquidation or dissolution of the corporation; and

  • (o) any other provision that the Governor in Council considers appropriate to include in the letters patent and that is not inconsistent with this Act.

• Marginal note:Supplementary letters patent

  (3) The Governor in Council may, on the recommendation of the Minister, issue supplementary letters patent amending the letters patent of a corporation, and the supplementary letters patent take effect on the date stated in them.

• Marginal note:Revocation of letters patent

  (4) The Governor in Council may, on the recommendation of the Minister, revoke the letters patent or supplementary letters patent of a corporation by issuing a notice to that effect. The revocation takes effect on the date stated in the notice.

• Marginal note:Not statutory instruments

  (5) Letters patent, supplementary letters patent and a notice of revocation are not statutory instruments within the meaning of the Statutory Instruments Act, but shall be published in the Canada Gazette and are valid with respect to third parties as of the date of publication.