Canadian Race Relations Foundation Act (S.C. 1991, c. 8)

Financial Provisions

Marginal note:Registered charity

21 The Foundation shall be deemed, for the purposes of the Income Tax Act, to be a registered charity within the meaning of that Act.

Marginal note:Payment to Foundation

• 22 (1) There shall be paid to the Foundation out of the Consolidated Revenue Fund the sum of twenty-four million dollars, of which twelve million dollars shall be paid on behalf of the Japanese Canadian community in commemoration of members of that community who suffered injustices during and after World War II.

• Marginal note:Endowment Fund

  (2) The sum of twenty-four million dollars referred to in subsection (1) constitutes the capital of an Endowment Fund to be used only for investment and the earning of income, which income may be expended for the purpose of the Foundation.

23 [Repealed, 2010, c. 12, s. 1698]

Marginal note:Dissolution

24 If the Foundation is dissolved,

• (a) the capital of the Endowment Fund and any unexpended interest thereon, and

• (b) any of the Foundation’s other property that remains after the payment of the Foundation’s debts and liabilities, or after making adequate provision for their payment,

shall be transferred to the Government of Canada and any other government on a proportional basis having regard to their total contributions to the Foundation.

Marginal note:Financial year

• 25 (1) The financial year of the Foundation is the period beginning on April 1 in one year and ending on March 31 in the following year.

• (2) [Repealed, 2005, c. 30, s. 46]

Reports

Marginal note:Annual report

• 26 (1) Within four months after the end of each financial year of the Foundation, the Chairperson shall submit to the Minister a report of the activities of the Foundation during that year, including the financial statements of the Foundation and the auditor’s report thereon.

• Marginal note:Copies for public scrutiny

  (2) The Foundation shall make copies of the report referred to in subsection (1) available for public scrutiny at the principal office of the Foundation.

• Marginal note:Tabling in Parliament

  (3) The Minister shall cause a copy of the report referred to in subsection (1) to be laid before each House of Parliament within the first fifteen days on which that House is sitting after the day on which the Minister has received the report.

Marginal note:Review of Act

• 27 (1) As soon as possible after the fourth anniversary of the coming into force of this Act, the Minister, after consultation with the Board, shall evaluate and prepare a report on the Foundation’s activities and organization, including a statement of any changes that the Minister recommends.

• Marginal note:Tabling in Parliament

  (2) The Minister shall cause a copy of the report referred to in subsection (1) to be laid before each House of Parliament within the first fifteen days on which that House is sitting after the report has been completed.

Coming into Force

Marginal note:Coming into force

Footnote ^*28 This Act shall come into force on a day to be fixed by order of the Governor in Council.

• Return to footnote ^*[Note: Act in force October 28, 1996, see SI/96-98.]