Bill C-50

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First Reading

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R.S., c. G-10	Canada Grain Act
1994, c. 45, s. 10	72. *(1) Paragraph 45(1)(b) of the English version of the Canada Grain Act* is replaced by the following:**
	(b) subject to the regulations, fix the security to be given by the applicant, by way of bond, suretyship , insurance or otherwise, having regard to the applicant's potential obligations for the payment of money or the delivery of grain to producers of grain who are holders of cash purchase tickets, elevator receipts or grain receipts issued pursuant to this Act in relation to grain produced by the holders.
1994, c. 45, s. 10	(2) Paragraph 45(2)(b) of the English version of the Act is replaced by the following:
	(b) subject to the regulations, fix the security to be given by the applicant, by way of bond, suretyship , insurance or otherwise, having regard to the applicant's obligations for the payment of money or the delivery of grain to holders of elevator receipts issued pursuant to this Act.
	73. Paragraph 116(1)(k) of the English version of the Act is replaced by the following:
	(k) respecting the security to be given, by way of bond, suretyship , insurance or otherwise, by applicants for licences and by licensees;
R.S., c. I-15	Interest Act
	74. *(1) Section 4 of the English version of the Interest Act* is replaced by the following:**
When per annum rate not stipulated	4. Except as to mortgages on real property or hypothecs on immovables , whenever any interest is, by the terms of any written or printed contract, whether under seal or not, made payable at a rate or percentage per day, week, month, or at any rate or percentage for any period less than a year, no interest exceeding the rate or percentage of five per cent per annum shall be chargeable, payable or recoverable on any part of the principal money unless the contract contains an express statement of the yearly rate or percentage of interest to which the other rate or percentage is equivalent.
1996, c. 17, s. 17	(2) Subsection 4(1) of the English version of the Act, as enacted by section 17 of the Agreement on Internal Trade Implementation Act, chapter 17 of the Statutes of Canada, 1996, is replaced by the following:
When annual rate not stipulated	4. (1) Except as to mortgages on real property or hypothecs on immovables , whenever any interest is, by the terms of any written or printed contract, whether under seal or not, made payable at a rate or percentage per day, week, month, or any rate or percentage for any period less than a year, no interest exceeding the rate or percentage prescribed by regulation shall be chargeable, payable or recoverable on any part of the principal money unless the contract contains an express statement of the yearly rate or percentage of interest to which the other rate or percentage is equivalent, calculated in accordance with the regulations.
	75. (1) The heading before section 6 and sections 6 and 7 of the English version of the Act are replaced by the following:
	INTEREST ON MONEYS SECURED BY MORTGAGE ON REAL PROPERTY OR HYPOTHEC ON IMMOVABLES
No interest recoverable in certain cases	6. Whenever any principal money or interest secured by mortgage on real property or hypothec on immovables is, by the mortgage or hypothec , made payable on a sinking fund plan, on any plan under which the payments of principal money and interest are blended or on any plan that involves an allowance of interest on stipulated repayments, no interest whatever shall be chargeable, payable or recoverable on any part of the principal money advanced, unless the mortgage or hypothec contains a statement showing the amount of the principal money and the rate of interest chargeable on that money , calculated yearly or half-yearly, not in advance.
No rate recoverable beyond that so stated	7. Whenever the rate of interest shown in the statement mentioned in section 6 is less than the rate of interest that would be chargeable by virtue of any other provision, calculation or stipulation in the mortgage or hypothec , no greater rate of interest shall be chargeable, payable or recoverable, on the principal money advanced, than the rate shown in the statement.
1996, c. 17, s. 18	(2) Subsection 6(1) of the English version of the Act, as enacted by section 18 of the Agreement on Internal Trade Implementation Act, chapter 17 of the Statutes of Canada, 1996, is replaced by the following:
Interest recoverable in certain cases	6. (1) Whenever any principal money or interest secured by mortgage on real property or hypothec on immovables is, by the mortgage or hypothec , made payable on a sinking fund plan, on any plan under which the payments of principal money and interest are blended, on any plan that involves an allowance of interest on stipulated payments or on any fund or plan described in the regulations, no interest whatever shall be chargeable, payable or recoverable on any part of the principal money advanced unless the mortgage or hypothec contains an express statement showing the amount of the principal money and the rate of interest chargeable on that money, calculated in accordance with the regulations.
	76. Subsection 8(1) of the English version of the Act is replaced by the following:
No fine, etc., allowed on payments in arrears	8. (1) No fine, penalty or rate of interest shall be stipulated for, taken, reserved or exacted on any arrears of principal or interest secured by mortgage on real property or hypothec on immovables that has the effect of increasing the charge on the arrears beyond the rate of interest payable on principal money not in arrears.
	77. (1) Subsection 10(1) of the Act is replaced by the following:
When no further interest payable	10. (1) Whenever any principal money or interest secured by mortgage on real property or hypothec on immovables is not, under the terms of the mortgage or hypothec , payable until a time more than five years after the date of the mortgage or hypothec , then, if at any time after the expiration of the five years, any person liable to pay or entitled to redeem the mortgage - or to extinguish the hypothec - tenders or pays, to the person entitled to receive the money, the amount due for principal money and interest to the time of payment, as calculated under sections 6 to 9, together with three months further interest in lieu of notice, no further interest shall be chargeable, payable or recoverable at any time after the payment on the principal money or interest due under the mortgage or hypothec .
	(2) Subsection 10(2) of the English version of the Act is replaced by the following:
When section not to apply	(2) Nothing in this section applies to any mortgage on real property or hypothec on immovables given by a joint stock company or other corporation, nor to any debenture issued by any such company or corporation, for the payment of which security has been given by way of mortgage on real property or hypothec on immovables .
R.S., c. L-1	Labour Adjustment Benefits Act
	78. *Section 23 of the French version of the Labour Adjustment Benefits Act* is replaced by the following:**
Incessibilité des prestations	23. Les prestations d'adaptation ne peuvent être cédées, grevées, saisies ou données en garantie et, sous réserve des paragraphes 22(1) et 26(1), toute opération en ce sens est nulle.
R.S., c. 25 (1st Supp.)	Meat Inspection Act
	79. *Section 19 of the Meat Inspection Act* is replaced by the following:**
Evidence of financial responsibility	19. The Minister may require any person or class of persons importing meat products into Canada to provide evidence of financial responsibility in any form, including an insurance or indemnity bond, or a suretyship , that is satisfactory to the Minister.
R.S., c. 29 (3rd Supp.)	Motor Vehicle Transport Act, 1987
	80. *(1) Paragraph 9(1)(g) of the English version of the Motor Vehicle Transport Act, 1987* is replaced by the following:**
	(g) prescribing the type, amount and conditions of insurance coverage and of bonding or suretyship coverage required to be held by an extra-provincial truck undertaking;
	(2) Subsection 9(2) of the English version of the Act is replaced by the following:
Fitness criteria	(2) The criteria relating to the fitness of an applicant referred to in paragraph (1)(e) shall include requirements related to safety and insurance and may include requirements relating to bonding or suretyship coverage and to any other requirement relating to the fitness of an applicant to hold a licence.
R.S., c. P-8	Pension Fund Societies Act
	81. *Section 15 of the Pension Fund Societies Act* is replaced by the following:**
No assignment of interest of members	15. The interest of any member of a pension fund society in the funds of the society is not transferable, and may not be charged by way of pledge, hypothecation or movable hypothec without delivery , or be sold or assigned in any manner .
R.S., c. S-8	Seeds Act
R.S., c. 49 (1st Supp.), s. 4(2)	82. *Paragraph 4(1)(h.5) of the Seeds Act* is replaced by the following:**
	(h.5) determining the cases in which and the conditions, including provision of a bond or suretyship , under which seeds shall, for the purposes of this Act, be transported and stored on importation;
R.S., c. T-14	Trade Unions Act
	83. *Paragraph 4(1)(e) of the English version of the Trade Unions Act* is replaced by the following:**
	(e) to secure by bond or suretyship the performance of any of the agreements mentioned in paragraphs (a) to (d).
	84. Subsections 15(1) and (2) of the English version of the Act are replaced by the following:
Powers relating to land	15. (1) Any trade union registered under this Act may purchase, or take on lease, in the names of the trustees of the trade union, any land not exceeding one acre, and may sell, exchange, mortgage, hypothecate or lease the land.
Authority of trustees	(2) No purchaser, assignee, mortgagee, hypothecary creditor or tenant is bound to inquire whether the trustees of a trade union registered under this Act have authority for any sale, exchange, mortgage, hypothec or lease , and the receipt of the trustees is a discharge for the money arising from the sale, exchange, mortgage, hypothec or lease.
	PART 7
	AMENDMENTS TO OTHER ACTS - PROPERTY LAW
1990, c. 13	Canadian Space Agency Act
	85. *(1) Paragraph 5(3)(a) of the English version of the Canadian Space Agency Act* is replaced by the following:**
	(a) construct, acquire , manage, maintain and operate space research and development vehicles, facilities and systems;
	(2) Paragraph 5(3)(f) of the French version of the Act is replaced by the following:
	f) rendre disponibles, notamment par vente ou octroi de licence, les brevets, droits d'auteur , dessins industriels, marques de commerce, secrets industriels ou droits de propriété analogues placés sous l'administration et le contrôle du ministre;
	(3) Paragraph 5(3)(h) of the Act is replaced by the following:
	(h) acquire any money, securities or other personal or movable property by gift or bequest and expend, administer or dispose of any such money, securities or property subject to the terms, if any, on which the gift or bequest was made;
	86. (1) Paragraph 10(1)(b) of the French version of the Act is replaced by the following:
	b) à la disposition desquelles elle met des brevets, droits d'auteur , dessins industriels, marques de commerce, secrets industriels ou droits de propriété analogues, ou à qui elle octroie une licence relative à ceux-ci.
	(2) Subsection 10(5) of the French version of the Act is replaced by the following:
Utilisation	(5) Avec l'agrément du Conseil du Trésor, l'Agence peut utiliser les redevances ou droits pour compenser les coûts découlant, au cours du même exercice, des services, installations ou droits de propriété pour lesquels ils sont perçus.
R.S., c. E-9	Energy Supplies Emergency Act
	87. *Paragraph 25(1)(d) of the French version of the Energy Supplies Emergency Act* is replaced by the following:**
	d) concernant l'accumulation de réserves et de stock d'un produit contrôlé, leur entreposage et leur mode de disposition ;
R.S., c. F-9	Feeds Act
	88. *Paragraph 5(k) of the French version of the Feeds Act* is replaced by the following:**
	k) prévoir le mode de disposition des biens confisqués en application de l'article 9;
R.S., c. V-1	Department of Veterans Affairs Act
	89. *(1) Paragraph 5(1)(a) of the French version of the Department of Veterans Affairs Act* is replaced by the following:**
	a) en ce qui concerne la gestion et le contrôle de tout hôpital, atelier, foyer, école ou autre établissement appartenant à Sa Majesté ou utilisé par elle , en vue de soigner, de traiter ou de former des personnes ayant servi dans les Forces canadiennes ou dans la marine, l'armée de terre ou l'aviation de Sa Majesté ou de l'un de ses alliés ainsi que les personnes habilitées à y recevoir de tels services ou bénéficiant de prestations du ministère;
	(2) Paragraph 5(1)(c) of the Act is replaced by the following:
	(c) for the marking or stamping of artificial limbs or appliances issued from the Department, and to prevent the removal or defacement of the stamps or marks or the use of any counterfeit of the stamps or marks , and to prevent the purchase, sale or other disposal or possession of the artificial limbs or appliances without the authority of the Minister; to forbid any false statement, suggestion or representation with respect to any artificial limbs, appliances or other goods manufactured in or for or issued from the Department;
	(3) Paragraph 5(1)(d) of the French version of the Act is replaced by the following:
	d) concernant la réception et la rétention de biens ou fonds détenus ou payables par la Couronne ou une autre autorité ou personne, pour le compte d'anciens et actuels bénéficiaires de soins médicaux, de cours de formation ou de toute autre aide dispensés dans le cadre de la présente loi, ou pour le compte des personnes à la charge de ces bénéficiaires; concernant la délivrance d'un reçu en bonne et due forme à cet effet et, s'il s'agit d'aliénés, l'acceptation ou l'autorisation de curatelle totale ou partielle de ces biens ou fonds; concernant la disposition de ces biens ou fonds en faveur de ces bénéficiaires ou des personnes à leur charge ou, en cas de décès, en faveur de leur succession, ou de la manière jugée opportune;
	(4) Subsection (3) is repealed on the later of the days on which the Act and subsection 1(1) of An Act to amend the statute law in relation to war veterans, chapter 43 of the Statutes of Canada, 1990, come into force.