Bill C-93
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2nd Session, 35th Parliament, 45-46 Elizabeth II, 1996-97
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The House of Commons of Canada
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BILL C-93 |
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An Act to implement certain provisions of the
budget tabled in Parliament on February
18, 1997
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SHORT TITLE |
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Short title
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1. This Act may be cited as the Budget
Implementation Act, 1997.
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PART I |
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CANADA FOUNDATION FOR INNOVATION |
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Interpretation |
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Definitions
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2. The definitions in this section apply in
this Part.
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``auditor'' « vérifica- teur »
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``auditor'' means the auditor for the
foundation appointed under section 26.
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``board'' « conseil »
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``board'' means the board of directors of the
foundation.
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``Chairperson'
' « président »
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``Chairperson'' means the Chairperson of the
board appointed under subsection 9(2).
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``director'' « adminis- trateur »
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``director'' means a person who is on the board
and includes the Chairperson.
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``eligible
project'' « travaux admissibles »
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``eligible project'' means a project carried on,
or to be carried on, by an eligible recipient
for the modernization, acquisition or
development of research infrastructure by
the recipient.
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``eligible
recipient'' « bénéfi- ciaire admissible »
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``eligible recipient'' means
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``employee or
agent of Her
Majesty in
right of a
province'' « employé ou mandataire de Sa Majesté du chef d'une province »
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``employee or agent of Her Majesty in right of
a province'' does not include an employee
or agent of Her Majesty in right of a
province whose duties and functions as
such an employee or agent are restricted to
work in a university, a college or other
educational institution or a hospital.
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``fiscal year'' « exercice »
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``fiscal year'' means the fiscal year of the
foundation as determined in accordance
with its by-laws.
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``foundation'' « fondation »
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``foundation'' means the Canada Foundation
for Innovation established by section 3.
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``member'' « membre »
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``member'' means a person who is a member
of the foundation.
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``Minister'' « ministre »
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``Minister'' means the Minister of Industry.
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``non-profit
organization'' « organisa- tion sans but lucratif »
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``non-profit organization'' means a
corporation, society, association,
organization or body no part of whose
income is payable to or otherwise available
for the personal benefit of any of its
proprietors, members or shareholders.
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``research'' « recherche »
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``research'' means the attempt by careful
scientific or technical enquiry,
experimentation, study, observation,
analysis and recording to discover new
facts, knowledge and information, to
develop new interpretations of facts,
knowledge or information, or to discover
new means of applying existing knowledge,
relating to
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``research
infrastruc- ture'' « infrastruc- ture de recherche »
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``research infrastructure'' means equipment,
specimens, scientific collections, computer
software, information databases,
communications linkages and other
intangible property used or to be used
primarily for carrying on research,
including housing and installations
essential for the use and servicing of those
things.
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``special
resolution'' « résolution extraordi- naire »
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``special resolution'' of the members means a
resolution passed by a majority of not less
than two thirds of the votes cast by the
members who voted on the resolution at a
meeting of the members or signed by all the
members entitled to vote on the resolution.
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Establishment of Foundation |
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Foundation
incorporated
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3. A corporation without share capital is
established to be called the Canada
Foundation for Innovation consisting of the
members of the foundation and the directors.
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Foundation
not agent of
Her Majesty
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4. The foundation is not an agent of Her
Majesty.
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Objects and
purposes of
foundation
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5. The objects and purposes of the
foundation are to make grants to eligible
recipients for eligible projects to increase the
capability of carrying on high quality research
in Canada.
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Capacity
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6. For the purposes of carrying out its
objects and purposes, the foundation has the
capacity and, subject to this Part, the rights,
powers and privileges of a natural person.
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Head office
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7. The head office of the foundation shall be
in the National Capital Region described in
the schedule to the National Capital Act.
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Canada
Corporations
Act
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8. (1) The Canada Corporations Act,
chapter C-32 of the Revised Statutes of
Canada, 1970, does not apply to the
foundation.
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Canada
Business
Corporations
Act
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(2) The following provisions of the Canada
Business Corporations Act apply, with such
modifications as the circumstances require, to
the foundation and its directors, members,
officers and employees as if the foundation
were a corporation incorporated under that
Act, this Part were its articles of incorporation
and its members were its shareholders:
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Description
with cross- references
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(3) The descriptive words in parentheses
that follow the reference to a provision of the
Canada Business Corporations Act in
subsection (2) form no part of that subsection
but are inserted for convenience of reference
only.
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Directors |
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Board of
directors
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9. (1) There shall be a board of directors of
the foundation which shall supervise the
management of the business and affairs of the
foundation and, subject to the by-laws of the
foundation, exercise all its powers.
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Appointment
of directors
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(2) Subject to subsection (3), the board
consists of
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Initial
organization
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(3) Where the Chairperson is appointed
before directors are appointed under
paragraph (2)(c), the Chairperson and such
other directors, if any, as may have been
appointed under paragraph (2)(b) constitute
the board until directors are appointed under
paragraph (2)(c) and may
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Limitation on
initial
organization
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(4) Until directors are appointed under
paragraph (2)(c), the board shall not make any
grants from or out of the funds of the
foundation or enter into any agreements or
arrangements, or review any applications, for
or in respect of grants to be made from or out
of the funds of the foundation.
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Foundation
not owned by
Crown
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(5) The operation of the foundation under
subsection (3) by the Chairperson and
directors, if any, appointed under paragraph
(2)(b) shall not, notwithstanding subsection
83(2) of the Financial Administration Act,
result in the foundation being considered, for
the purposes of Part X of that Act or for any
other purpose, to be wholly owned directly by
Her Majesty in right of Canada.
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Terms of
office of
Governor in
Council
appointees
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10. (1) The Chairperson and the directors
appointed under paragraph 9(2)(b) shall be
appointed to hold office during pleasure for
terms of three years but, except where they
cease to be directors under subsection (4), they
shall continue to hold office until their
successors are appointed.
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Terms of
office of other
directors
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(2) The directors appointed under
paragraph 9(2)(c) by the members shall hold
office for terms of three years, but they may be
removed from office by a special resolution of
the members and, except where they cease to
be directors under subsection (4), they shall
continue to hold office until their successors
are appointed.
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Additional
terms of office
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(3) A director is eligible to be reappointed
for one or more additional terms of office.
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Ceasing to be
director
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(4) A director ceases to be a director when
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Director
representa- tion
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11. The appointment of directors shall be
made
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