Bill C-89
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GENERAL |
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| Names
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14. Notwithstanding subsection 10(1) of the
Canada Business Corporations Act, CN may
continue to use and be legally designated by
the names ``Canadian National Railway
Company'' in English and ``Compagnie des
chemins de fer nationaux du Canada'' in
French on and after the continuation day.
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| Application of
Official
Languages
Act
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15. The Official Languages Act continues to
apply to CN as if it continued to be a federal
institution within the meaning of that Act.
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| Works for the
general
advantage of
Canada
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16. (1) The railway and other transportation
works in Canada of CN, of every subsidiary of
CN and of every corporation formed by any
consolidation or amalgamation of any two or
more of those corporations are hereby
declared to be works for the general advantage
of Canada.
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| Exception
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(2) Subsection (1) does not apply to the
purchase, sale, lease or operation of motor
vehicles of all kinds for the carriage of traffic
in conjunction with or substitution for the rail
services managed or controlled by CN.
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TRANSITIONAL, CONSEQUENTIAL, REPEAL AND COMING INTO FORCE |
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Transitional |
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| Continuation
in office
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17. (1) Subject to subsection (2), the
members of the Board of Directors of CN
who held office immediately before the
continuation day continue to hold office
according to the terms of their
appointment.
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| Directors
cease to hold
office
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(2) The members of the Board of
Directors of CN cease to hold office at the
close of the first annual meeting of
shareholders of CN held after the day on
which shares of CN are first issued to any
person, other than the Minister, which
meeting shall be held not later than six
months following the end of CN's financial
year in which that day falls.
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| No
compensation
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(3) No person has any right to claim or
receive any compensation, damages,
indemnity or other form of relief from Her
Majesty in right of Canada or any servant
or agent of Her Majesty for ceasing to hold
office by virtue of this Act.
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Consequential Amendments |
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| Consequential
amendments
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18. The Acts set out in Schedule I are
amended as indicated in that Schedule.
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Repeal |
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| Repeal of
R.S., c. C-19
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19. (1) The Canadian National Railways
Act is repealed on the continuation day.
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| Director to
give notice
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(2) The Director is not required to comply
with subsection 187(6) of the Canada
Business Corporations Act in respect of CN,
but the Director shall, on issuing the
certificate of continuance of CN, cause a
notice to be published in the Canada Gazette
setting out the date on which the certificate
was issued and on which the Canadian
National Railways Act was repealed.
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| Related
repeals
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20. The Acts set out in Schedule II are
repealed.
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Coming into Force |
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| Coming into
force
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21. Section 18 comes into force on a day
to be fixed by order of the Governor in
Council.
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