Asian Infrastructure Investment Bank Agreement Act (S.C. 2017, c. 33, s. 176)

Marginal note:Short title

1 This Act may be cited as the Asian Infrastructure Investment Bank Agreement Act.

Marginal note:Definitions

2 The following definitions apply in this Act.

Agreement

Agreement means the Agreement respecting the Asian Infrastructure Investment Bank set out in the schedule. (accord)

Bank

Bank means the Asian Infrastructure Investment Bank. (Banque)

Marginal note:Approval of Agreement

3 The Agreement is approved.

Marginal note:Acceptance of Agreement and implementation

4 The Governor in Council may authorize the acceptance of the Agreement on behalf of Canada and take any measure that is necessary in the opinion of the Governor in Council, including making appointments, orders and regulations, for carrying out the obligations or exercising the rights of Canada under the Agreement, and in particular for granting the privileges and immunities set out in the Agreement.

Marginal note:Amendment to schedule

5 The Governor in Council may, by order, amend the schedule to take into account amendments to the Agreement that are consistent with the purpose and functions of the Bank.

Marginal note:Depository

6 The Bank of Canada is the depository in Canada for the assets of the Bank.

Marginal note:Payments out of Consolidated Revenue Fund — Initial subscription

7 The Minister of Finance may make payments out of the Consolidated Revenue Fund to the Bank in respect of Canada’s initial subscription of shares in an aggregate amount not more than US$ 375,000,000, or any greater amount that is specified in an appropriation Act.