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Royal Canadian Mint Act (R.S.C., 1985, c. R-9)

Act current to 2022-08-08 and last amended on 2016-12-15. Previous Versions

Royal Canadian Mint Act

R.S.C., 1985, c. R-9

An Act respecting the Royal Canadian Mint

Short Title

Marginal note:Short title

 This Act may be cited as the Royal Canadian Mint Act.

  • R.S., c. R-8, s. 1

Interpretation

Marginal note:Definitions

 In this Act,

base metal

base metal means any metal other than precious metal; (métal commun)

base metal coin

base metal coin[Repealed, 1999, c. 4, s. 1]

Board

Board means the Board of Directors of the Mint appointed under this Act; (conseil)

circulation coin

circulation coin means a coin composed of base metal that is listed in Part 2 of the schedule and that is put into circulation in Canada for use in day-to-day transactions; (monnaie de circulation)

Master

Master means the Master of the Mint; (président)

Minister

Minister[Repealed, 2005, c. 38, s. 129]

Mint

Mint means the Royal Canadian Mint established by this Act; (Monnaie)

non-circulation coin

non-circulation coin means a coin composed of base metal, precious metal or any combination of those metals that is not intended for circulation and that is listed in Part 1 of the schedule; (monnaie hors circulation)

precious metal

precious metal means gold, silver, platinum or any of the platinum group of metals. (métal précieux)

precious metal coin

precious metal coin[Repealed, 1999, c. 4, s. 1]

  • R.S., 1985, c. R-9, s. 2
  • R.S., 1985, c. 35 (3rd Supp.), s. 1
  • 1996, c. 16, s. 60
  • 1999, c. 4, s. 1
  • 2005, c. 38, s. 129

Designation of Minister

Marginal note:Power of Governor in Council

 The Governor in Council may designate a member of the Queen’s Privy Council for Canada to be the Minister for the purposes of this Act.

  • 2005, c. 38, s. 130

Incorporation, Objects and Head Office

Marginal note:Incorporation

  •  (1) The Master of the Mint and such other persons as constitute the Board of Directors of the Mint are hereby incorporated as a body corporate under the name of the Royal Canadian Mint.

  • Marginal note:Objects

    (2) The objects of the Mint are to mint coins in anticipation of profit and to carry out other related activities.

  • (2.1) [Repealed, 2016, c. 12, s. 117]

  • Marginal note:Head office

    (3) The head office of the Mint shall be in the National Capital Region as described in the schedule to the National Capital Act.

  • R.S., 1985, c. R-9, s. 3
  • R.S., 1985, c. 35 (3rd Supp.), s. 2
  • 2014, c. 39, s. 185
  • 2016, c. 12, s. 117

Capital

Marginal note:Authorized capital

  •  (1) The authorized capital of the Mint is forty million dollars, divided into four thousand shares of ten thousand dollars each.

  • Marginal note:Purchase of shares

    (2) The Governor in Council may, by order, approve the purchase by the Minister of shares of the Mint and the payment therefor out of the Consolidated Revenue Fund.

  • Marginal note:Shares

    (3) The shares of the Mint are not transferable and when issued to the Minister in accordance with this Act shall be registered in the books of the Mint in the name of the Minister and held by the Minister in trust for Her Majesty in right of Canada.

  • Marginal note:Limitation

    (4) No shares of the Mint may be issued otherwise than as expressly authorized by this Act.

  • R.S., 1985, c. 35 (3rd Supp.), s. 2

Marginal note:Redemption of shares

  •  (1) The Mint shall, at the request of the Minister after consultation with the Board, redeem such number of shares issued to the Minister in accordance with this Act as the Minister may direct.

  • Marginal note:Redemption price

    (2) The price to be paid for each share redeemed by the Mint pursuant to subsection (1) is the issue price of the share.

  • R.S., 1985, c. 35 (3rd Supp.), s. 2

Powers

Marginal note:Powers

  •  (1) In carrying out its objects, the Mint has the rights, powers and privileges and the capacity of a natural person and may if necessary

    • (a) procure the incorporation, dissolution or amalgamation of subsidiaries and acquire or dispose of any shares in them;

    • (b) acquire and dispose of any interest in any entity by any means;

    • (c) produce and arrange for the production and supply of coins of the currency of Canada;

    • (d) produce and arrange for the production of coins of the currency of countries other than Canada;

    • (e) make medals, plaques, tokens and other objects;

    • (f) melt, assay and refine gold, silver and other metals;

    • (g) lease or acquire gold, silver and other metals;

    • (h) lend, lease or dispose of gold, silver and other metals;

    • (i) issue, promote, deal in or trade in financial services and products relating to gold, silver and other metals, subject to the approval of the Minister and in a manner consistent with the Mint’s last corporate plan as approved under section 122 of the Financial Administration Act;

    • (j) securely store and securely ship coins, gold, silver and other metals or arrange for their secure storage and shipment;

    • (k) market minting equipment developed by, or on behalf of, the Mint;

    • (l) acquire or provide consulting services relating to any activity referred to in paragraphs (c) to (k);

    • (m) obtain, acquire, license, sell, or otherwise make available or dispose of any patent, copyright, industrial design, trademark or other similar property right, or any licence to any of them, relating to any activity referred to in paragraphs (c) to (k);

    • (n) engage in marketing, promotion and research and in development activities relating to any activity referred to in paragraphs (c) to (k);

    • (o) do any of the activities referred to in paragraphs (d) to (f) and (j) on behalf of any person or entity; and

    • (p) subject to the approval of the Minister and in a manner consistent with the Mint’s last corporate plan as approved under section 122 of the Financial Administration Act, engage in any other activity.

  • Marginal note:Additional powers

    (2) In addition to the powers under section 21 of the Interpretation Act, the Mint may

    • (a) acquire, hold and alienate real property or any interest therein; and

    • (b) make grants in lieu of taxes to any municipality in Canada in amounts not exceeding the taxes that might be levied by that municipality in respect of real property under the administration and control of the Mint if the Mint were not an agent of Her Majesty.

  • R.S., 1985, c. R-9, s. 4
  • R.S., 1985, c. 35 (3rd Supp.), s. 3
  • 1999, c. 4, s. 2
  • 2016, c. 12, s. 118

Marginal note:Agent of Her Majesty

 The Mint is for all its purposes an agent of Her Majesty in right of Canada.

  • R.S., c. R-8, s. 5
  • 1984, c. 31, s. 14

 [Repealed, 1999, c. 4, s. 3]

Non-circulation Coins

Marginal note:Issue of coins

 The Governor in Council may authorize the issue of non-circulation coins of a denomination listed in Part 1 of the schedule.

  • R.S., 1985, c. R-9, s. 6
  • R.S., 1985, c. 35 (3rd Supp.), s. 5
  • 1999, c. 4, s. 3

Marginal note:Amendment to Part 1 of the schedule

 The Governor in Council may, by order, amend Part 1 of the schedule by adding or deleting a denomination of a non-circulation coin.

  • 1999, c. 4, s. 3

Marginal note:Characteristics

 The Mint may determine the characteristics, other than the design, of any denomination of a non-circulation coin.

  • 1999, c. 4, s. 3

Marginal note:Design

 The Minister may determine the design of any denomination of a non-circulation coin.

  • 1999, c. 4, s. 3

Marginal note:$350 non-circulation coins

 Non-circulation coins of the currency of Canada in the denomination of $350 that are dated 1999, 2000, 2001, 2002, 2003, 2004, 2005 or 2006 are current and legal tender in Canada as of the year that they are dated.

  • 2016, c. 12, s. 119

Circulation Coins

Marginal note:Issue of coins

  •  (1) The Governor in Council may, by order, authorize the issue of circulation coins of a denomination listed in Part 2 of the schedule.

  • Marginal note:Characteristics

    (2) The order must specify the characteristics for that issue of coin.

  • 1999, c. 4, s. 3

Marginal note:Design

 The Governor in Council may determine the design of any circulation coin to be issued.

  • 1999, c. 4, s. 3

Marginal note:Amendment to Part 2 of the schedule

 The Governor in Council may, by order, amend Part 2 of the schedule by amending any characteristic of a circulation coin.

  • 1999, c. 4, s. 3

Coins of Canada

Marginal note:Coins to be delivered to Minister of Finance

  •  (1) All coins of the currency of Canada that are produced at or supplied by the Mint shall be delivered to the Minister of Finance or such person as the Minister of Finance may designate.

  • Marginal note:Storage, preparation and movement of coins

    (2) The Mint shall comply with such instructions as the Minister of Finance may give respecting the storage of coins of the currency of Canada or the preparation and movement of shipments of such coins to or from the Mint.

  • Marginal note:Payments to Mint to be made from C.R.F.

    (3) Payments for the production, storage, preparation or movement of coins of the currency of Canada shall be made out of the Consolidated Revenue Fund on the authorization of the Minister of Finance.

  • (4) [Repealed, 1999, c. 4, s. 4]

  • (5) [Repealed, R.S., 1985, c. 35 (3rd Supp.), s. 6]

  • R.S., 1985, c. R-9, s. 7
  • R.S., 1985, c. 35 (3rd Supp.), s. 6
  • 1999, c. 4, s. 4

Master and Board of Directors

Marginal note:Board of Directors

 The Board of Directors of the Mint shall consist of not less than nine and not more than eleven directors, including the Chairperson and the Master.

  • R.S., 1985, c. R-9, s. 8
  • R.S., 1985, c. 35 (3rd Supp.), s. 7
  • 1999, c. 4, s. 5

Marginal note:Chairperson

 The Chairperson shall be appointed by the Governor in Council to hold office during pleasure for any term that the Governor in Council considers appropriate.

  • R.S., 1985, c. R-9, s. 9
  • R.S., 1985, c. 35 (3rd Supp.), s. 7
  • 1999, c. 4, s. 6(E)

Marginal note:Appointment of Master of the Mint

  •  (1) The Master shall be appointed by the Governor in Council to hold office during pleasure for such term as the Governor in Council considers appropriate.

  • (2) [Repealed, R.S., 1985, c. 35 (3rd Supp.), s. 8]

  • Marginal note:Master

    (3) The Master is the chief executive officer of the Mint and shall devote the whole of his time to the business of the Mint.

  • Marginal note:Acting Master

    (4) The Board may authorize one of its directors or an officer of the Mint to act as Master in the event that the Master is absent or incapacitated or if the office of Master is vacant but no person so authorized shall act as Master for a period exceeding sixty days without the approval of the Governor in Council.

  • R.S., 1985, c. R-9, s. 10
  • R.S., 1985, c. 35 (3rd Supp.), s. 8

Marginal note:Appointment of directors

 Each director, other than the Chairperson and the Master of the Mint, shall be appointed by the Minister, with the approval of the Governor in Council, to hold office during pleasure for a term not exceeding four years that will ensure, as far as possible, the expiration in any one year of the terms of office of not more than one half of the directors.

  • R.S., 1985, c. R-9, s. 11
  • R.S., 1985, c. 35 (3rd Supp.), s. 9
  • 2006, c. 9, s. 298
  •  (1) [Repealed, 2016, c. 12, s. 120]

  • Marginal note:Outside interests

    (2) A person is not eligible to be appointed or to continue as a director of the Mint if the person is not a Canadian citizen ordinarily resident in Canada or if, directly or indirectly, the person is engaged in any undertaking involving or associated with

    • (a) the production or distribution of copper, copper alloy, nickel or precious metals;

    • (b) the purchase, production, distribution or sale of coins or coin operated devices; or

    • (c) the vending of goods and services by means of coin operated devices.

  • Marginal note:Disposing of interest

    (3) Where any interest prohibited by subsection (2) vests in a director by will or succession for his own benefit, the director shall, within three months thereafter, absolutely dispose of the interest.

  • R.S., 1985, c. R-9, s. 12
  • R.S., 1985, c. 35 (3rd Supp.), s. 10
  • 2016, c. 12, s. 120
 
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