Federal Law–Civil Law Harmonization Act, No. 3 (S.C. 2011, c. 21)
Full Document:
Assented to 2011-11-29
Marginal note:1998, c. 1
Canada Cooperatives Act
Marginal note:2001, c. 14, s. 137(2)
72. (1) The definitions “personal representative” and “security interest” in subsection 2(1) of the Canada Cooperatives Act are replaced by the following:
“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 liquidator of a succession, an administrator of the property of others, a guardian or tutor, a curator, a receiver or sequestrator, an agent or mandatary or an attorney.
“security interest”
« sûreté »
“security interest” means an interest or right in or charge on property of a cooperative to secure payment of a debt or the performance of an obligation of the cooperative.
(2) The definitions option d’achat and option de vente in subsection 2(1) of the French version of the Act are replaced by the following:
« option d’achat »
“call”
option d’achat Option négociable par livraison qui permet d’exiger que soit livré un nombre précis de valeurs mobilières à un prix et dans un délai déterminés. Est exclu de la présente définition l’option ou le droit d’acquérir des valeurs mobilières de la coopérative qui l’a accordé.
« option de vente »
“put”
option de vente Option négociable par livraison qui permet de livrer un nombre précis de valeurs mobilières à un prix et dans un délai déterminés.
(3) The definition “proxy” in subsection 2(1) of the English version of the Act is replaced by the following:
“proxy”
« procuration »
“proxy” means a completed and executed or, in Quebec, signed form of proxy by means of which a shareholder appoints a proxyholder to attend and act on the shareholder’s behalf at a meeting of the shareholders.
73. Paragraph 11(1)(i) of the Act is replaced by the following:
(i) whether the cooperative is to be incorporated with or without membership share capital, and, if there is to be no membership share capital, a statement that the interest or right of each member as member is, subject to subsection 7(3), the same as that of every other member;
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