Canada Business Corporations Act

Marginal note:Application of Act

• 3 (1) This Act applies to every corporation incorporated and every body corporate continued as a corporation under this Act that has not been discontinued under this Act.

• (2) [Repealed, 1991, c. 45, s. 551]

• Marginal note:Certain Acts do not apply

  (3) The following do not apply to a corporation:

  • (a) the Canada Corporations Act, chapter C-32 of the Revised Statutes of Canada, 1970;

  • (a.1) the Canada Not-for-profit Corporations Act;

  • (b) the Winding-up and Restructuring Act; and

  • (c) the provisions of a Special Act, as defined in section 87 of the Canada Transportation Act, that are inconsistent with this Act.

• Marginal note:Limitations on business that may be carried on

  (4) No corporation shall carry on the business of

  • (a) a bank;

  • (a.1) an association to which the Cooperative Credit Associations Act applies;

  • (b) a company or society to which the Insurance Companies Act applies; or

  • (c) a company to which the Trust and Loan Companies Act applies.

• Marginal note:Limitations on business that may be carried on

  (5) No corporation shall carry on business as a degree-granting educational institution unless expressly authorized to do so by a federal or provincial agent that by law has the power to confer degree-granting authority on an educational institution.