Canada Innovation Corporation Act (S.C. 2023, c. 26, s. 238)

Marginal note:Transfer of rights, property and obligations

32 All rights and property of the National Research Council of Canada that are related to the Industrial Research Assistance Program and of His Majesty in right of Canada that are under the administration and control of the National Research Council of Canada and are related to the Industrial Research Assistance Program and all obligations of the National Research Council of Canada that are related to the Industrial Research Assistance Program are transferred to the new Corporation.

Marginal note:Transfer of powers, duties and functions

33 If a power, duty or function is, under any contract, lease, licence or other document, vested in or exercisable by a person who, immediately before the day on which this section comes into force, occupied a position within the Industrial Research Assistance Program of the National Research Council of Canada, the power, duty or function is vested in and is to be exercised by the new Corporation.

Marginal note:Information about Industrial Research Assistance Program

34 The National Research Council of Canada may disclose any information that is under its control and that is related to the Industrial Research Assistance Program to the new Corporation.

Marginal note:Regulations

35 The Governor in Council may make regulations respecting the transfer of the Industrial Research Assistance Program of the National Research Council of Canada to the new Corporation, including regulations respecting the manner in which rights, property and obligations are to be transferred under section 32 and any restrictions on those transfers.