Marginal note:Replacement of “appartenance” with “droit de propriété”

134. The French version of the Act is amended by replacing the word “appartenance” with the words “droit de propriété”, with the modifications that the circumstances require, in the following provisions:

• (a) paragraph 6(1)(d);

• (b) paragraph 173(1)(n);

• (c) paragraph 174(1)(c);

• (d) subsections 174(2), (3) and (4);

• (e) subsection 174(6);

• (f) paragraph 176(1)(h);

• (g) subsection 176(3); and

• (h) paragraph 190(1)(a).

Marginal note:Technical amendments

135. The English version of the Act is amended as set out in the schedule.

Marginal note:Review of Canada Business Corporations Act

136. A committee of the Senate, of the House of Commons or of both Houses of Parliament that is designated or established for the purpose shall, within five years after the coming into force of this section, and within every ten years thereafter, undertake a review of the provisions and operations of the Canada Business Corporations Act, and shall, within a reasonable period thereafter, cause to be laid before each House of Parliament a report thereon.

• 137. (1) The definitions “distributing cooperative”, “member loan”, “person” and “security” in subsection 2(1) of the Canada Cooperatives Act are replaced by the following:

  “distributing cooperative”

  « coopérative ayant fait appel au public »

  “distributing cooperative” means, subject to subsections 4(4) and (5), a distributing cooperative as defined in the regulations.

  “member loan”

  « prêt de membre »

  “member loan” means a loan required by the cooperative from its members as a condition of membership or to continue membership in the cooperative, and, for the purpose of Parts 8, 16, 17, 18.1 and 19 and subsection 163(2), a member loan is deemed to be a membership share issued at par value.

  “person”

  « personne »

  “person” means an individual or an entity, and includes a personal representative.

  “security”

  « valeur mobilière »

  “security” includes an investment share, a debt obligation of a cooperative and a certificate evidencing such a share or debt obligation and, for the purposes of section 173 and Parts 18.1 and 19, includes a membership share.

• (2) Subsection 2(1) of the Act is amended by adding the following in alphabetical order:

  “personal representative”

  « représentant personnel »

  “personal representative” means a person who stands in place of and represents another person including, but not limited to, a trustee, an executor, an administrator, a receiver, an agent, a liquidator of a succession, a guardian, a tutor, a curator, a mandatary or an attorney.

• (3) Subsection 2(3) of the Act is replaced by the following:

  • Marginal note:Minors

    (3) For the purposes of this Act, the word “minor” has the same meaning as in the applicable provincial law and, in the absence of any such law, has the same meaning as the word “child” in the United Nations Convention on the Rights of the Child, adopted in the United Nations General Assembly on November 20, 1989.