Bill C-38
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49-50 ELIZABETH II |
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CHAPTER 35 |
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An Act to amend the Air Canada Public
Participation Act
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[Assented to 18th December, 2001]
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| R.S., c. 35
(4th Supp.)
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AIR CANADA PUBLIC PARTICIPATION ACT |
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| 2000, c. 15,
s. 17(1)
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1. (1) Paragraph 6(1)(a) of the Air Canada
Public Participation Act is repealed.
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| 1994, c. 24,
par. 34(1)(a)
(F)
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(2) Subsection 6(2) of the Act is replaced
by the following:
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| Enforcement
of constraint
provisions
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(2) The regulations made pursuant to
subsection 174(6) of the Canada Business
Corporations Act apply, with any
modifications that the circumstances require,
in respect of the Corporation as if the
constraints imposed pursuant to paragraph
(1)(b) were a constraint referred to in
paragraph 174(1)(a) of that Act.
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(3) The portion of subsection 6(3) of the
Act before paragraph (a) is replaced by the
following:
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| Exceptions
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(3) No provision imposing constraints
pursuant to paragraph (1)(b) and no regulation
referred to in subsection (2) apply in respect of
voting shares of the Corporation that are held
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(4) Subsections 6(4) and (5) of the Act are
repealed.
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TRANSITIONAL PROVISION |
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2. (1) Any provisions of the articles of the
Corporation, as that corporation is defined
in the Air Canada Public Participation Act,
that impose constraints described in
paragraph 6(1)(a) of that Act, and any
provisions of the by-laws that give effect to
those constraints, are, as of the day on
which this Act comes into force, deemed to
have no further force or effect.
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(2) The articles of the Corporation may
be restated under section 180 of the Canada
Business Corporations Act as if they had
been amended in accordance with
subsection (1).
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COMING INTO FORCE |
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| Coming into
force
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3. This Act comes into force on a day to be
fixed by order of the Governor in Council
made on the recommendation of the
Minister of Transport.
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