94 (1) Within six months after the day on which this subsection comes into force, or any longer time that the Governor in Council determines on the recommendation of the Minister of Human Resources and Skills Development, the Canada Millennium Scholarship Foundation, established by section 3 of the Budget Implementation Act, 1998 and referred to in this Part as “the Foundation”, shall sell or otherwise dispose of all of its property other than property referred to in subsection (3) and discharge all of its liabilities, on terms and conditions that are approved by the Governor in Council.
Donations of money
(2) Despite subsection (1), money that was donated to the Foundation under section 21 of the Budget Implementation Act, 1998 — including any income arising from the investment of the money — and that was not used for carrying out the objects and purposes of the Foundation shall be paid to the donor.
Transfer to department
(3) Within the period referred to in subsection (1), the Foundation shall transfer to the Department of Human Resources and Skills Development the following things, including any electronic versions of them:
(a) the books of account and other records referred to in section 35 of the Budget Implementation Act, 1998, as well as any information that the Foundation collected in order to produce them;
(b) all other information that the Foundation has under its control concerning persons who have received scholarships or any other financial assistance from it;
(c) any studies that the Foundation has under its control, and any other information that it has collected through research; and
(d) any database containing information related to any of those books of account and other records, that other information and those studies, as well as any information necessary in order to use the database.
Remaining money
(4) After satisfying the obligations set out in subsections (1) to (3), the Foundation shall deposit all of its remaining money in the Consolidated Revenue Fund to the credit of the Receiver General.
Dissolution
(5) The Foundation is dissolved.
