Canada Shipping Act Gold Franc Conversion Regulations (SOR/78-73)

Regulations are current to 2019-08-28

Canada Shipping Act Gold Franc Conversion Regulations

SOR/78-73

CURRENCY ACT

Registration 1978-01-24

Regulations Respecting Conversion of Values Expressed in Gold Francs into Canadian Dollar Equivalents for Purposes of the Canada Shipping Act

P.C. 1978-104 1978-01-19

His Excellency the Governor General in Council, on the recommendation of the Minister of Finance and the Minister of Transport, is pleased hereby

Short Title

 These Regulations may be cited as the Canada Shipping Act Gold Franc Conversion Regulations.

Interpretation

 In these Regulations, S.D.R. means the special drawing rights issued by the International Monetary Fund.

General

 For the purposes of the Canada Shipping Act, the equivalent dollar value of gold francs shall be determined as follows:

  • (a) gold francs shall be converted into S.D.R.’s at the exchange rate of 15.075 gold francs per S.D.R.; and

  • (b) S.D.R.’s shall be converted into Canadian dollars at the exchange rate established by the International Monetary Fund for S.D.R.’s and Canadian dollars.

 
Date modified: