Marginal note:Meetings of Council
10. The Council shall meet at least three times a year in the city of Ottawa on such days as are fixed by the Council and at such other times and places as the Council deems necessary.
- R.S., c. C-2, s. 11.
11. The Director and employees of the Council shall be deemed to be employed in the public service for the purposes of the Public Service Superannuation Act, and the Council shall be deemed to be a Public Service corporation for the purposes of section 37 of that Act.
- R.S., 1985, c. C-2, s. 11;
- 1995, c. 29, s. 8;
- 2003, c. 22, s. 225(E).
Marginal note:Not agent of Her Majesty or part of federal public administration
12. The Council is not an agent of Her Majesty and, except as provided in section 11, the members, Director and employees of the Council are not part of the federal public administration.
- R.S., 1985, c. C-2, s. 12;
- 1995, c. 29, s. 8;
- 2003, c. 22, s. 224(E).
Marginal note:Endowment Fund
13. The Minister of Finance may, out of the Consolidated Revenue Fund, pay to the Council the sum of fifty million dollars, which shall constitute an Endowment Fund for the purposes of this Act.
- R.S., c. C-2, s. 14.
14. Any expenditure made for any of the purposes of this Act, except paragraph 8(1)(e), may be paid out of
(a) the return on investments made out of the Endowment Fund; or
(b) money, securities or other property received by the Council by gift, bequest or otherwise, if available for that purpose.
- R.S., c. C-2, s. 16.
Marginal note:University Capital Grants Fund
15. (1) The Council shall establish a fund to be called the University Capital Grants Fund, to which shall be credited the sum of fifty million dollars, which shall be paid to the Council by the Minister of Finance out of the Consolidated Revenue Fund.
Marginal note:Capital assistance to universities
(2) Grants made by the Council pursuant to paragraph 8(1)(e) may be paid out of the University Capital Grants Fund but shall not exceed
(a) in the case of any particular project, one-half of the total expenditures made in respect of the project; and
(b) in any province, an amount that is in the same proportion to the aggregate of the amounts credited to the University Capital Grants Fund as the population of the province, according to the latest census, is to the aggregate population, according to that census, of those provinces in which there is a university or other similar institution of higher learning.
Marginal note:Restriction on investments
(3) Investments out of money standing to the credit of the University Capital Grants Fund may be made only in bonds or other securities of or guaranteed by the Government of Canada.
- R.S., c. C-2, s. 17.
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