Bill C-435
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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-435 |
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An Act to amend the Bank of Canada Act
(withdrawal of the thousand dollar note)
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| R.S. c. B-2
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1. Subsection 25(3) of the Bank of Canada
Act is replaced by the following:
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| Denomina- tions
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(3) Subject to section 25.1 , notes of the
Bank shall be in such denominations and shall
be printed and signed or otherwise executed as
the Governor in Council by regulation deter
mines.
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2. The Act is amended by adding the
following after section 25:
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WITHDRAWAL OF THE THOUSAND DOLLAR NOTE |
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| Withdrawal of
the thousand
dollar note
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25.1 (1) Beginning on the date this section
comes into force, the Bank
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| Legal tender
for three
months
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(2) Subject to subsection (3), the thousand
dollar notes already issued by the Bank shall
cease to be legal tender three months after this
section comes into force.
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| Duty of the
Bank for six
months
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(3) The Bank shall honour the thousand
dollar notes already issued by it for six months
after this section comes into force and, on the
expiry of this time period, the Bank shall no
longer honour such notes.
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