Marginal note:Application of Act

• 3. (1) This Act applies to every corporation and, to the extent provided for in Part 19, to bodies corporate without share capital incorporated by a special Act of Parliament.

• Marginal note:Certain Acts do not apply

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

  • (a) the Canada Business Corporations Act;

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

  • (c) the Winding-up and Restructuring Act.

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

  (3) No corporation shall carry on the business of

  • (a) a bank;

  • (b) an association to which the Cooperative Credit Associations Act applies;

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

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

• Marginal note:Limitation — granting degrees or regulating activities

  (4) Incorporation or continuance under this Act does not confer any authority on a corporation to carry on activities as a degree-granting educational institution or to regulate any activity, including a profession or trade.

Marginal note:Purpose

4. The purpose of this Act is to allow the incorporation or continuance of bodies corporate as corporations without share capital, including certain bodies corporate incorporated or continued under various other Acts of Parliament, for the purposes of carrying on legal activities and to impose obligations on certain bodies corporate without share capital incorporated by a special Act of Parliament.

Marginal note:Power of Governor in Council

5. The Governor in Council may designate any member of the Queen’s Privy Council for Canada to be the Minister for the purposes of this Act.

Marginal note:Incorporators

• 6. (1) One or more individuals or bodies corporate may incorporate a corporation by signing articles of incorporation and complying with section 8.

• Marginal note:Individuals

  (2) No individual may incorporate a corporation under subsection (1) if that individual

  • (a) is less than 18 years of age;

  • (b) has been declared incapable by a court in Canada or in another country; or

  • (c) has the status of a bankrupt.