Bill C-41
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1st Session, 36th Parliament, 46-47 Elizabeth II, 1997-98
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The House of Commons of Canada
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BILL C-41 |
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An Act to amend the Royal Canadian Mint Act
and the Currency Act
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| R.S., c. R-9;
R.S., c. 35
(3rd Supp.);
1995, c. 26;
1996, c. 16
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ROYAL CANADIAN MINT ACT |
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| R.S., c. 35
(3rd Supp.),
s. 1(3)
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1. (1) The definitions ``base metal coin''
and ``precious metal coin'' in section 2 of
the Royal Canadian Mint Act are repealed.
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(2) Section 2 of the Act is amended by
adding the following in alphabetical order:
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| ``base metal'' « métal commun »
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``base metal'' means any metal other than
precious metal;
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| ``circula- tion coin'' « monnaie de circulation »
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``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;
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| ``non- circulation coin'' « monnaie hors circulation »
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``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;
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| ``precious
metal'' « métal précieux »
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``precious metal'' means gold, silver,
platinum or any of the platinum group of
metals.
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| R.S., c. 35
(3rd Supp.),
s. 3
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2. Subsection 4(1) of the Act is replaced
by the following:
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| Powers
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4. (1) In carrying out its objects, the Mint
has the rights, powers and privileges and the
capacity of a natural person and may in
particular
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| R.S., c. 35
(3rd Supp.),
s. 4
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3. The heading before section 5.1 and
sections 5.1 to 5.3 of the Act are replaced by
the following:
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NON-CIRCULATION COINS |
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| Issue of coins
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6. The Governor in Council may authorize
the issue of non-circulation coins of a
denomination listed in Part 1 of the schedule.
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| Amendment
to Part 1 of
the schedule
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6.1 The Governor in Council may, by order,
amend Part 1 of the schedule by adding or
deleting a denomination of a non-circulation
coin.
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| Characteris- tics
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6.2 The Mint may determine the
characteristics, other than the design, of any
denomination of a non-circulation coin.
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| Design
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6.3 The Minister may determine the design
of any denomination of a non-circulation coin.
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CIRCULATION COINS |
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| Issue of coins
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6.4 (1) The Governor in Council may, by
order, authorize the issue of circulation coins
of a denomination listed in Part 2 of the
schedule.
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| Characteris- tics
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(2) The order must specify the
characteristics for that issue of coin.
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| Design
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6.5 The Governor in Council may
determine the design of any circulation coin to
be issued.
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| Amendment
to Part 2 of
the schedule
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6.6 The Governor in Council, may, by order,
amend Part 2 of the schedule by amending any
characteristic of a circulation coin.
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| R.S., c. 35
(3rd Supp.),
s. 6
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4. Subsection 7(4) of the Act is repealed.
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| R.S., c. 35
(3rd Supp.),
s. 7(2)
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5. Section 8 of the Act is replaced by the
following:
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| Board of
Directors
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8. 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.
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| R.S., c. 35
(3rd Supp.),
s. 7(2)
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6. Section 9 of the English version of the
Act is replaced by the following:
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| Chairperson
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9. 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.
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| R.S., c. 35
(3rd Supp.),
s. 14
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7. Subsection 20(1) of the Act is replaced
by the following:
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| Borrowing
power
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20. (1) The Mint may, for the attainment of
its objects, borrow money from the
Consolidated Revenue Fund or any other
source, but the total amount outstanding at any
time may not exceed 75 million dollars or such
greater amount as may be specified in an
appropriation Act.
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| R.S., c. 35
(3rd Supp.);
1995, c. 26,
s. 1;
SOR/88-410;
SOR/90-475;
SOR/91-432,
510;
SOR/93-105;
SOR/95-45;
SOR/96-75,
104, 488;
SOR/98-92,
94, 96, 141
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8. The schedule to the Act is replaced by
the schedule set out in the schedule to this
Act.
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| R.S., c. C-52;
R.S., c. 14 (1st
Supp.), c. 22
(2nd Supp.),
c. 35 (3rd
Supp.), c. 3
(4th Supp.);
1993, c. 33;
1996, c. 16
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CURRENCY ACT |
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| 1996, c. 16,
par. 60(1)(e)
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9. The definition ``Minister'' in section 2
of the Currency Act is replaced by the
following:
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| ``Minister'' « ministre »
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``Minister'' means the Minister of Finance.
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10. Subsection 3(2) of the Act is replaced
by the following:
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| Denomina- tions
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(2) The denominations of money in the
currency of Canada are dollars and cents, the
cent being one hundredth of a dollar.
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11. Subsection 7(1) of the Act is replaced
by the following:
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| Current coins
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7. (1) A coin is current for the amount of its
denomination in the currency of Canada if it
was issued under the authority of
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| R.S., c. 35
(3rd Supp.),
s. 18
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12. (1) Paragraph 8(1)(a) of the Act is
replaced by the following:
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(2) Subsections 8(2) and (3) of the Act are
replaced by the following:
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| Limitation
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(2) A payment in coins referred to in
subsection (1) is a legal tender for no more
than the following amounts for the following
denominations of coins:
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| Coins of
denomina- tions greater than ten dollars
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(2.1) In the case of coins of a denomination
greater than ten dollars, a payment referred to
in subsection (1) may consist of not more than
one coin, and the payment is a legal tender for
no more than the value of a single coin of that
denomination.
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| Different
amounts
payable on the
same day
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(3) For the purposes of subsections (2) and
(2.1), where more than one amount is payable
by one person to another on the same day
under one or more obligations, the total of
those amounts is deemed to be one amount due
and payable on that day.
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| R.S., c. 35
(3rd Supp.),
s. 19(1)
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13. Subsection 9(1) of the French version
of the Act is replaced by the following:
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| Retrait de
pièces
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9. (1) Le gouverneur en conseil peut, par
proclamation, retirer des pièces de monnaie,
quelles qu'en soient la date et la valeur faciale.
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| R.S., c. 35
(3rd Supp.),
s. 20
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14. Section 9.1 of the Act is replaced by
the following:
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| Amounts
received from
issue of coins
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9.1 All amounts received from the issue of
coins of the currency of Canada must be paid
into the Consolidated Revenue Fund.
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COMING INTO FORCE |
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| Coming into
force
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15. This Act or any provision of this Act
comes into force on a day or days to be fixed
by order of the Governor in Council.
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