Bill C-5
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Regulations |
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Regulations
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372. The Governor in Council may make
regulations
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Statements |
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Definition of
``statement''
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373. (1) In this section, ``statement'' means
a statement of intent to dissolve and a
statement of revocation of intent to dissolve
referred to in section 310.
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Execution and
filing
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(2) When this Act requires that articles or a
statement relating to a cooperative be sent to
the Director,
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Date of
certificate
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(3) A certificate referred to in subsection (2)
that is issued by the Director may be dated as
of the date of the receipt of the articles,
statement or court order pursuant to which the
certificate was issued or as of any later date
specified by the court or person who signed
the articles or statement.
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Signature
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(4) A signature required on a certificate
issued by the Director under this Act may be
printed or otherwise reproduced on the certifi
cate or may be made in accordance with the
regulations.
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Date of
certificate
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(5) Despite subsection (3), a certificate of
discontinuance may be dated as of the day a
cooperative amalgamates under another Act
or is continued.
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Annual return
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374. Every cooperative must send the
Director an annual return in the form, and on
the date, that the Director fixes.
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Certificate
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375. The Director may provide any person
with a certificate that a cooperative has sent to
the Director a document required to be sent, or
has paid any fees prescribed.
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Alteration
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376. (1) The Director may alter a notice or
document, other than an affidavit or statutory
declaration, if authorized to do so by the
person who sent the document or by their
representative.
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Corrections
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(2) If a certificate that contains an error is
issued to a cooperative by the Director, the
directors, members or shareholders must, on
the request of the Director, pass the resolutions
and send the documents required to comply
with this Act, and take any other steps that the
Director may reasonably require. The Direc
tor may demand the surrender of the certifi
cate and issue a corrected certificate.
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Date of
corrected
certificate
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(3) A certificate corrected under subsection
(2) must bear the date of the certificate it
replaces.
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Notice
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(4) If a corrected certificate issued under
subsection (2) materially amends the terms of
the original certificate, the Director must
without delay give notice of the correction in
a publication generally available to the public.
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Inspection
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377. (1) A person who has paid the pre
scribed fee is entitled during usual business
hours to examine a document required by this
Act or the regulations to be sent to the
Director, except a report sent under subsection
330(2), and to make copies of it or take
extracts from it.
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Copies and
extracts
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(2) The Director must provide any person
with a copy, extract, certified copy or certified
extract of a document required by this Act or
the regulations to be sent to the Director,
except a report sent under subsection 330(2).
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Records |
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Records of
Director
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378. (1) Records required by this Act to be
maintained by the Director may be in bound or
loose-leaf form or in photographic film form,
or may be entered or recorded by a system of
mechanical or electronic data processing or by
any other information storage device that is
capable of reproducing any required informa
tion in intelligible written form within a
reasonable time.
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Obligation
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(2) If records that are maintained by the
Director are maintained other than in written
form,
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Retention of
records
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(3) The Director is not required to produce
any document, other than a certificate and
attached articles or statement filed under
section 373, more than six years after the date
it is received.
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Form of
publication
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(4) Information or notices required by this
Act to be summarized in a publication gener
ally available to the public or to be published
by the Director may be made available to the
public or published by a system of mechanical
or electronic data processing or any other
information storage device that is capable of
reproducing any required information or no
tice in intelligible form within a reasonable
time.
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PART 23 |
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CONTINUANCE |
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Continuance
under this Act
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379. (1) Subject to paragraphs 7(3)(b) and
(c), on the coming into force of this subsec
tion,
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Amendment
to articles
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(2) Each former Act cooperative must, not
later than five years after the coming into force
of this subsection, amend its articles so that
they comply with section 11 and file them with
the Director.
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Failure to
comply
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(3) If a cooperative referred to in subsection
(1) does not comply with subsection (2), the
Director may, after giving not less than one
hundred and eighty days notice after the end
of the five years to the cooperative, dissolve
the cooperative.
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No member or
shareholder
rights
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(4) Any amendment to the articles of a
cooperative to comply with subsection (2)
does not give rise to any rights by a member
or shareholder under section 302.
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*ep
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PART 24 |
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CONSEQUENTIAL AMENDMENTS, REPEAL AND COMING INTO FORCE |
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Consequential Amendments |
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R.S., c. C-44;
1994, c. 24,
s. 1 (F)
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Canada Business Corporations Act
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1994, c. 24,
s. 21
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380. Subsection 186.1(1) of the Canada
Business Corporations Act is replaced by the
following:
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Amalgama- tion under other federal Acts
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186.1 (1) Subject to subsection (2), a
corporation may not amalgamate with one or
more bodies corporate pursuant to the Bank
Act, the Canada Cooperatives Act , the Coop
erative Credit Associations Act, the Insurance
Companies Act or the Trust and Loan Compa
nies Act unless the corporation is first autho
rized to do so by the shareholders in accor
dance with section 183.
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1994, c. 24,
s. 22(2)
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381. Subsection 188(2.1) of the Act is
replaced by the following:
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Continuance
(other federal
Acts)
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(2.1) A corporation that is authorized by the
shareholders in accordance with this section
may apply to the appropriate Minister for its
continuance under the Bank Act, the Canada
Cooperatives Act , the Insurance Companies
Act or the Trust and Loan Companies Act.
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1991, c. 48
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Cooperative Credit Associations Act
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382. Sections 32 and 33 of the Cooperative
Credit Associations Act are replaced by the
following:
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Transferring
to Canada
Cooperatives
Act
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32. (1) An association may, with the
approval in writing of the Minister, apply for
a certificate of continuance under subsection
285(1) of the Canada Cooperatives Act .
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Conditions for
approval
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(2) No approval referred to in subsection (1)
may be given to an association unless the
Minister is satisfied that the application of the
association for a certificate of continuance
under the Canada Cooperatives Act has been
authorized by a special resolution of the
members.
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Effect of
certificate
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33. On the day specified in the certificate
referred to in subsection 32(1), the Canada
Cooperatives Act applies and this Act ceases
to apply to the body corporate continued under
that Act.
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383. Subsection 35(2) of the Act is re
placed by the following:
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Use of
``coopera- tive''
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(2) Notwithstanding the Canada Coopera
tives Act , an association may use the word
``cooperative'' or ``coopérative'', or any ab
breviation of that word, in its name.
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384. Paragraph 50(a) of the Act is re
placed by the following:
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Repeal |
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Repeal of
R.S., c. C-40
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385. The Canada Cooperative Associa
tions Act is repealed.
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Coming into Force |
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Coming into
force
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386. This Act or any of its provisions or
any provision of an Act enacted by this Act
comes into force on a day or days to be fixed
by order of the Governor in Council.
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