Definitions2The definitions in this section apply in this Part.auditor means the auditor for the foundation appointed under section 26. (vérificateur)board means the board of directors of the foundation. (conseil)Chairperson means the Chairperson of the board appointed under subsection 9(2). (président)director means a person who is on the board and includes the Chairperson. (administrateur)eligible project means(a)a project carried on, or to be carried on, by an eligible recipient for the modernization, acquisition, development, operation or maintenance of research infrastructure by the recipient in Canada; or(b)the purchasing by an eligible recipient of access to a world-leading research facility located outside Canada or to a major international collaborative research project, including the purchasing of such access by means of a contribution toward a portion of capital costs. (travaux admissibles)eligible recipient means(a)a hospital, university or post-secondary college or educational institution that is situated in Canada and that carries on, or in the opinion of a majority of the directors is capable of carrying on, meaningful research; or(b)a non-profit organization or a trust the activities of which are primarily carried on in Canada and that carries on, or in the opinion of a majority of the directors is capable of carrying on, meaningful research. (bénéficiaire admissible)employee or agent of Her Majesty in right of a province does not include an employee or agent of Her Majesty in right of a province whose duties and functions as such an employee or agent are restricted to work in a university, a college or other educational institution or a hospital. (employé ou mandataire de Sa Majesté du chef d’une province)fiscal year means the fiscal year of the foundation as determined in accordance with its by-laws. (exercice)foundation means the Canada Foundation for Innovation established by section 3. (fondation)member means a person who is a member of the foundation. (membre)Minister means the Minister of Industry. (ministre)non-profit organization means a corporation, society, association, organization or body no part of whose income is payable to or otherwise available for the personal benefit of any of its proprietors, members or shareholders. (organisation sans but lucratif)research means the attempt by careful scientific or technical enquiry, experimentation, study, observation, analysis and recording to discover new facts, knowledge and information, to develop new interpretations of facts, knowledge or information, or to discover new means of applying existing knowledge, relating to(a)a science;(b)health;(c)engineering; or(d)the environment. (recherche)research infrastructure means equipment, specimens, scientific collections, computer software, information databases, communications linkages and other intangible property used or to be used primarily for carrying on research, including housing and installations essential for the use and servicing of those things. (infrastructure de recherche)special resolution of the members means a resolution passed by a majority of not less than two thirds of the votes cast by the members who voted on the resolution at a meeting of the members or signed by all the members entitled to vote on the resolution. (résolution extraordinaire)1997, c. 26, s. 2; 2001, c. 11, s. 1

Canada Not-for-profit Corporations Act8(1)The Canada Not-for-profit Corporations Act does not apply to the foundation.Canada Business Corporations Act(2)The following provisions of the Canada Business Corporations Act apply, with such modifications as the circumstances require, to the foundation and its directors, members, officers and employees as if the foundation were a corporation incorporated under that Act, this Part were its articles of incorporation and its members were its shareholders:(a)section 16 (by-law not required to confer powers on foundation, restriction on powers of foundation, and validity of acts of foundation);(b)subsection 21(1) (access to foundation’s records by members and creditors);(c)section 23 (corporate seal not needed to validate instrument);(d)subsections 103(1) to (4) (powers of directors to make and amend by-laws, members’ approval of by-laws and effective date of by-laws);(e)subsection 105(1) (qualifications of directors);(f)subsection 108(2) (resignation of director);(g)section 110 (right of director to attend members’ meeting and statements by retiring directors);(h)subsections 114(1) and (2) (place of directors’ meetings and quorum);(i)section 116 (validity of acts of directors and officers);(j)section 117 (validity of directors’ resolutions not passed at meeting);(k)section 120 (conflict of director’s interests);(l)subsection 122(1) (duty of care of directors and officers);(m)section 123 (directors’ dissents);(n)subsections 124(1) to (6) (indemnification of directors and insurance for director’s liability);(o)section 155 (financial statements);(p)section 158 (approval of financial statements by directors);(q)section 159 (sending financial statements to members before annual meeting and penalty for failure);(r)section 161 (qualifications of auditor);(s)section 168 (rights and duties of auditor);(t)section 169 (examinations by auditor);(u)section 170 (right of auditor to information);(v)subsections 171(3) to (9) (duty and administration of audit committee and penalty for failure to comply);(w)section 172 (qualified privilege in defamation for auditor’s statements); and(x)subsections 257(1) and (2) (certificates of foundation as evidence).Description with cross-references(3)The descriptive words in parentheses that follow the reference to a provision of the Canada Business Corporations Act in subsection (2) form no part of that subsection but are inserted for convenience of reference only.1997, c. 26, s. 8; 2001, c. 14, s. 235; 2009, c. 23, ss. 307, 342

Board of directors9(1)There shall be a board of directors of the foundation which shall supervise the management of the business and affairs of the foundation and, subject to the by-laws of the foundation, exercise all its powers.Appointment of directors(2)Subject to subsection (3), the board consists of(a)a Chairperson of the board, who is resident in Canada, appointed by the Governor in Council on the recommendation of the Minister;(b)five persons, who are resident in Canada, appointed by the Governor in Council on the recommendation of the Minister; and(c)seven persons, who are resident in Canada and none of whom are employees or agents of Her Majesty in right of Canada or in right of a province or members of the Senate, the House of Commons or the legislature of a province, appointed by the members in accordance with the by-laws of the foundation.Initial organization(3)Where the Chairperson is appointed before directors are appointed under paragraph (2)(c), the Chairperson and such other directors, if any, as may have been appointed under paragraph (2)(b) constitute the board until directors are appointed under paragraph (2)(c) and may(a)undertake the organization of the foundation including the appointment of officers and employees;(b)make banking arrangements for the foundation;(c)enact organizational by-laws for the foundation; and(d)receive on behalf of the foundation any moneys paid to the foundation.Limitation on initial organization(4)Until directors are appointed under paragraph (2)(c), the board shall not make any grants from or out of the funds of the foundation or enter into any agreements or arrangements, or review any applications, for or in respect of grants to be made from or out of the funds of the foundation.Foundation not owned by Crown(5)The operation of the foundation under subsection (3) by the Chairperson and directors, if any, appointed under paragraph (2)(b) shall not, notwithstanding subsection 83(2) of the Financial Administration Act, result in the foundation being considered, for the purposes of Part X of that Act or for any other purpose, to be wholly owned directly by Her Majesty in right of Canada.1997, c. 26, s. 9; 2010, c. 12, s. 1658

Terms of office of Governor in Council appointees10(1)The Chairperson and the directors appointed under paragraph 9(2)(b) shall be appointed to hold office during pleasure for terms of three years but, except where they cease to be directors under subsection (4), they shall continue to hold office until their successors are appointed.Terms of office of other directors(2)The directors appointed under paragraph 9(2)(c) by the members shall hold office for terms of three years, but they may be removed from office by a special resolution of the members and, except where they cease to be directors under subsection (4), they shall continue to hold office until their successors are appointed.Additional terms of office(3)A director is eligible to be reappointed for one or more additional terms of office.Ceasing to be director(4)A director ceases to be a director when(a)the director(i)dies,(ii)resigns,(iii)ceases to be resident in Canada, or(iv)becomes disqualified under subsection 105(1) of the Canada Business Corporations Act;(b)in the case of a director appointed by the Governor in Council, the appointment is terminated by the Governor in Council before the expiry of the term of the appointment; or(c)in the case of a director appointed by the members, the director(i)is removed from office before the expiry of the term of the appointment by a special resolution of the members,(ii)is appointed to the Senate,(iii)is elected to the House of Commons or the legislature of a province, or(iv)becomes an employee or agent of Her Majesty in right of Canada or in right of a province.

Membership13(1)There shall be fifteen members of the foundation.First members(2)Upon this Act receiving royal assent, the Governor in Council, on the recommendation of the Minister, shall without delay appoint six persons as members of the foundation.First meeting(3)As soon as possible after the appointment of the six members under subsection (2), the Minister shall make arrangements for a first meeting of those members.Appointing balance of first members(4)At the first meeting of the six members appointed under subsection (2), or at a meeting held as soon after that meeting as possible, those members shall appoint nine further members of the foundation.Appointment of successor members(5)The appointment of a person as a member to succeed a person whose term as a member expires shall be made by the members at a general meeting of members.Filling vacancies(6)The appointment of a person as a member to fill a vacancy in the membership caused by a person ceasing to be a member before the member’s term as a member expires shall be made by the members at a general meeting of members.Eligibility for members(7)A person is not eligible to be appointed a member if the person(a)is a member of the Senate, the House of Commons or the legislature of a province;(b)is an employee or agent of Her Majesty in right of Canada or in right of a province;(c)is a director;(d)does not reside in Canada; or(e)does not meet the qualifications set out in subsection 105(1) of the Canada Business Corporations Act.

Terms of members14(1)Subject to subsection (2), the members shall be appointed to hold office for terms of five years, but they may be removed from office by a special resolution of the members and, except where they cease to be members under subsection (5), they shall continue to hold office until their successors are appointed.Terms of first members(2)Of the members appointed under subsections 13(2) and (4), one-third shall be appointed for terms of five years, one-third shall be appointed for four years and one-third shall be appointed for three years but, except where they cease to be members under subsection (5), they shall continue to hold office until their successors are appointed.Additional terms of office(3)A member is eligible to be reappointed for one or more terms of office.Replacements(4)A person appointed to fill a vacancy in the office of a member who has ceased to hold the office before the expiry of the member’s term of office shall be appointed to hold office for the unexpired portion of that term.Ceasing to be member(5)A member ceases to be a member when the member(a)dies;(b)resigns;(c)is appointed to the Senate;(d)is elected to the House of Commons or to the legislature of a province;(e)is appointed a director;(f)becomes an employee or agent of Her Majesty in right of Canada or in right of a province;(g)no longer meets the qualifications set out in subsection 105(1) of the Canada Business Corporations Act; or(h)is removed from office by a special resolution of the members.

Staff17(1)The board may appoint such officers, employees and agents of the foundation as they consider necessary to carry out the objects and purposes of the foundation.Designation of offices(2)Subject to the by-laws of the foundation, the board may designate the offices of the foundation and specify the duties and functions of each office.Directors not employees or agents(3)Directors and members are not eligible to be employed as employees or agents of the foundation.Not part of public service of Canada(4)The directors, members, officers, employees and agents of the foundation are not, because of being a director, member, officer, employee or agent of the foundation, part of the federal public administration.1997, c. 26, s. 17; 2003, c. 22, s. 224(E)

Assistance for eligible projects19(1)From and out of its funds, the foundation may make grants to eligible recipients to be used by them solely for the purposes of eligible projects in accordance with any terms and conditions specified by the foundation in respect of the grants.Limits on financial assistance(2)In making grants to an eligible recipient in respect of an eligible project, the foundation shall not acquire any interest, whether through the acquisition of share capital, a partnership interest or otherwise, in any research infrastructure acquired by the recipient for the project.Agreements relating to assistance(3)For the purpose of assisting an eligible recipient in completing an eligible project, the foundation may enter into agreements with the recipient respecting, among other things, the manner in which the foundation will make advances in respect of a grant to the recipient, when those advances will be made and any terms or conditions on which the grant will be made.

Donations to foundation20(1)Subject to subsection (3), the foundation may accept donations of money.Use of donations(2)All money donated to the foundation, and any income arising from the investment of the money, shall be used by the foundation in carrying out its objects and purposes.Conditional donations(3)The foundation shall not accept a donation of money that is made on the condition that the foundation use the money or any income arising from the investment of the money for any purpose that is not within the objects and purposes of the foundation.Exception(4)Subsection (3) does not apply where the conditions of a donation of money merely restrict or direct the manner of investing the money until it can be used to make grants to eligible recipients for eligible projects.

Investments22(1)Subject to any conditions of a donation restricting the investment of the money donated until it can be used to make grants to eligible recipients for eligible projects, the foundation shall invest its funds, and reinvest any income from those funds, in accordance with the investment policies, standards and procedures established by the board.Restriction(2)The foundation shall not invest its funds in, or acquire any right in any property of, an eligible recipient that has received, is about to receive or has applied for a grant from the foundation.Incorporation of other corporations(3)The foundation shall not cause any corporation to be incorporated or participate in the incorporation of a corporation or become a partner in a partnership.Control of corporation(4)The foundation shall not carry on any business for gain or profit otherwise than in the investment of its funds, and shall not hold or acquire a controlling interest in any corporation or enterprise.

Delegation by directors24(1)Subject to subsection (2), the board may delegate to the Chairperson, a committee of directors or an officer of the foundation any of the powers of the board.Restrictions on delegation(2)The board shall not delegate any power or right of the board(a)to enact, amend or repeal by-laws;(b)to authorize the making of grants to eligible recipients;(c)to appoint directors to, or fill vacancies on, a committee of the board;(d)to appoint officers of the foundation or fix their remuneration;(e)to accept donations;(f)to approve an annual financial statement or a report of the foundation; or(g)to submit to the members any matter requiring the approval of the members.

Books of account25(1)The board shall cause books of account and other records to be kept and shall establish financial and management controls, information systems and management practices that will ensure that the business and affairs of the foundation are carried on, and the financial, human and physical resources of the foundation are managed, effectively, efficiently and economically.Information systems(2)The books of account and other records of the foundation shall be maintained in such a way that they will show that the assets of the foundation are properly protected and controlled and that its business and affairs are carried on in compliance with this Part and the regulations, and in particular in such a way that they will show(a)descriptions and book values of all investments of the foundation; and(b)the eligible recipients who have received, or are about to receive, grants from the foundation in respect of eligible projects, the nature and extent of the projects and the amount of the grants.

Auditor26(1)The members, at their first meeting in each fiscal year, shall appoint an auditor for the foundation for the fiscal year and fix, or authorize the board to fix, the auditor’s remuneration.Qualifications of auditor(2)The auditor shall be(a)a natural person who(i)is a member in good standing of an institute or association of accountants incorporated by or under an Act of the legislature of a province,(ii)has at least five years experience at a senior level in carrying out audits,(iii)is ordinarily resident in Canada, and(iv)is independent of the board, the directors and the officers of the foundation; or(b)a firm of accountants at least one of the members or employees of which who are jointly designated by the board and the firm to conduct on behalf of the firm the audit of the books and records of the foundation meet the qualifications set out in paragraph (a).Continuation of auditor(3)If an auditor is not appointed at the first meeting of the members in a fiscal year, the auditor for the preceding fiscal year continues in office until a successor is appointed.Removal of auditor(4)The members may by a special resolution of the members remove an auditor from office.Ceasing to hold office(5)An auditor ceases to hold office when the auditor(a)dies;(b)resigns; or(c)is removed from office under subsection (4).Replacement(6)The members, at a meeting of the members, may appoint an auditor to fill any vacancy in the office of the auditor, but if the members fail to fill the vacancy at a meeting, or if no meeting of the members is convened without delay after the vacancy occurs, the board may appoint an auditor.Unexpired term(7)An auditor appointed to fill a vacancy in the office holds office for the unexpired term of the predecessor in the office.1997, c. 26, s. 26; 2001, c. 34, s. 8(F)

Annual reports29(1)The foundation shall, within three months after the end of each fiscal year, prepare an annual report in both official languages of its activities during the year and include in the report(a)its financial statement for the year as approved by the board;(b)its balance sheet as at the end of the year including a detailed statement of its investment portfolio as at the end of the year; and(c)the report of the auditor for the year in respect of the audit of the books and records of the foundation for the year, the auditor’s certificates respecting the financial statement and balance sheet and any other reports of the auditor respecting the financial circumstances of the foundation in the year.Consideration of report by members(2)Before the annual report of the foundation for a fiscal year is distributed to the public, it shall be approved by the board and by the members at a meeting of the members.Distribution of report(3)After the annual report of the foundation for a fiscal year is approved as required under subsection (2), the report shall be made public in accordance with the by-laws of the foundation and a copy shall be sent to the Minister, who shall cause a copy of the report to be laid before each House of Parliament on any of the first fifteen days on which that House is sitting after the Minister receives it.

Property to be divided31(1)If the foundation is wound up or dissolved, all its property remaining after all its debts and obligations have been satisfied shall be liquidated and the moneys arising from that liquidation shall be distributed among all the eligible recipients that have received grants from the foundation and that are, as of the day the distribution begins, still carrying on research, to be used by them for the purpose of that research, in such a way that each such recipient receives an amount that is the same proportion of those moneys that the total grants received by that recipient from the foundation is of the total of all grants that have been made by the foundation to all such eligible recipients.Repayment out of remaining property(2)Despite subsection (1), the Minister may require the foundation to repay out of the moneys arising from the liquidation to the Receiver General for credit to the Consolidated Revenue Fund any amount that is so repayable under the terms or conditions on which public moneys were provided to the foundation.1997, c. 26, s. 31; 2003, c. 15, s. 31

Definitions35The definitions in this section apply in this Part.British Columbia means Her Majesty in right of British Columbia. (Colombie-Britannique)consumer means an Indian or any band, within the meaning of the Indian Act, who acquires tobacco on a reserve for the use or consumption of the Indian or the band, or for the use or consumption by others at the expense of the Indian or the band, or on behalf of, or as the agent for, a principal who desires to acquire the tobacco for use or consumption by the Indian or the band or other persons at the expense of that Indian or that band. (consommateur)council, in relation to the Cowichan Tribes, has the same meaning as the expression council of the band in subsection 2(1) of the Indian Act. (conseil)Cowichan Tribes means the Cowichan Band of Indians referred to in Order in Council P.C. 1973-3571. (tribus Cowichan)direct has the same meaning, for the purpose of distinguishing between a direct and an indirect tax, as in class 2 of section 92 of the Constitution Act, 1867. (directe)direct tax[Repealed, 1998, c. 21, s. 63]Minister means the Minister of Finance. (ministre)reserve means the reserves, within the meaning of subsection 2(1) of the Indian Act, set apart by Her Majesty for the use and benefit of the Cowichan Tribes. (réserve)tobacco means tobacco and tobacco products in any form in which they may be consumed by a consumer, and includes snuff and raw leaf tobacco. (tabac)1997, c. 26, s. 35; 1998, c. 21, s. 63

Tax36(1)Notwithstanding section 87 of the Indian Act or any other Act of Parliament or any Act of the legislature of a province, the council may make a by-law imposing a direct tax on consumers of tobacco, at a rate prescribed in the by-law.Application of section 87 of the Indian Act(2)For greater certainty, except with respect to a tax imposed by a by-law made under subsection (1), nothing in that subsection affects the application of section 87 of the Indian Act.Indian moneys(3)Moneys raised pursuant to a tax referred to in subsection (1) are not Indian moneys within the meaning of subsection 2(1) of the Indian Act.Expenditures(4)Expenditures made out of moneys raised pursuant to a tax referred to in subsection (1) must be made under the authority of a resolution approved by a majority of the councillors of the Cowichan Tribes present at a meeting of the council duly convened.By-law(5)A by-law made under subsection (1)(a)shall be valid only if approved by a majority of the councillors of the Cowichan Tribes present at a meeting of the council duly convened;(b)shall not come into force before it is approved by the Minister;(c)shall, except where an agreement has been entered into pursuant to subsection 39(1),(i)provide the method of calculating the tax,(ii)set out the rate at which the tax is imposed,(iii)provide for the time and manner in which the tax that is required to be collected by the vendor of the tobacco is to be remitted to the council, and(iv)provide for the form of, and the information to be contained in, the books and records to be kept pursuant to subsection 38(1);(d)shall, where an agreement has been entered into pursuant to subsection 39(1), provide that the rate of tax is the rate provided for in the Tobacco Tax Act, R.S.B.C. 1979, c. 404, as amended from time to time;(e)may apply to one or more kinds of tobacco and may provide for different rates for different kinds of tobacco;(f)may be made with respect to any matter arising out of or ancillary to the exercise of powers under this section; and(g)is not subject to the Statutory Instruments Act.

Supreme Court of British Columbia37(1)Except where an agreement has been entered into pursuant to subsection 39(1), where a person who is required to remit an amount of tax collected pursuant to a by-law made under section 36 fails to remit that amount or where a person fails to pay an amount pursuant to subsection (2), the Cowichan Tribes may take proceedings before the Supreme Court of British Columbia against that person to recover the amount.Failure to collect(2)Except where an agreement has been entered into pursuant to subsection 39(1), where a person who is required to collect an amount of tax pursuant to this Part fails to collect the amount, that person shall pay to the council, at the same time and in the same manner as the person would have been required to remit if the failure had not occurred, an amount equal to the amount of tax the person failed to collect.Proof of by-law(3)A copy of a by-law made under this Part is, if it is certified to be a true copy by the Minister or a person authorized by the Minister, evidence that the by-law was duly made by the council and approved by the Minister, without proof of the signature or the authorization of the person, and no such by-law is invalid by reason of any defect in form.Publication of by-law(4)The council shall, on demand, provide a copy of any by-law made under this Part and shall publish every such by-law in a newspaper having general circulation in the place where the tax applies as well as in the First Nations Gazette, but no by-law shall be invalid by reason of a failure to make such publication.1997, c. 26, s. 37; 1998, c. 21, s. 64

Books and records38(1)Every person who is required pursuant to this Part to collect an amount of tax shall keep books and records of account in such form and containing such information as will enable the taxes payable under this Part to be determined.Inspection of books(2)A person authorized by the council (in this section referred to as the authorized person) may, at all reasonable times, for any purpose related to the administration or enforcement of this Part,(a)inspect, audit or examine the books and records required to be kept under this Part; and(b)examine any property situated on a reserve that is in an inventory of a person required to keep books and records pursuant to this Part and any property on the reserve an examination of which may assist in determining the accuracy of the inventory of the person or in ascertaining the information that is or should be in the books or records of the person or any amount that the person was required to collect under this Part.Authorized person(3)For the purposes of paragraphs (2)(a) and (b), the authorized person may(a)enter any premises or place on the reserve, except a dwelling-house, where any books or records are or should be kept; and(b)require the person referred to in paragraph (2)(b) to provide all reasonable assistance and to answer all proper questions relating to the administration and enforcement of this Part.

Agreement with province39(1)The Cowichan Tribes may enter into an agreement with British Columbia respecting the collection of tax imposed by a by-law made under section 36.Collection where agreement(2)Where a tax has been imposed by a by-law made under section 36 and an agreement entered into with the Government of British Columbia for collection of the tax, British Columbia may collect the tax in accordance with the agreement and may take proceedings to collect the tax as if it were imposed under the Tobacco Tax Act, R.S.B.C. 1979, c. 404, as amended from time to time.Rights of Appeal(3)Where an agreement has been entered into, any person who is required to pay, collect or remit the tax collected by British Columbia, or who is liable to pay any amount or penalty with respect to such tax, may take any proceedings with respect to the payment, collection or remittance or with respect to the amount of penalty as if the tax were imposed under the Tobacco Tax Act, R.S.B.C. 1979, c. 404, as amended from time to time.Exception(4)For greater certainty, subsection (3) does not apply to proceedings challenging the validity of a tax imposed by a by-law made under section 36.Payment of security by wholesaler(5)For greater certainty, where an agreement has been entered into, British Columbia may collect security from dealers, within the meaning of section 1 of the Tobacco Tax Act, R.S.B.C. 1979, c. 404, as amended from time to time, who are situated outside a reserve with respect to the tax imposed by a by-law made under this Part.Application of provincial legislation(6)For the purposes of subsections (2) and (3), the provisions of the Tobacco Tax Act, R.S.B.C. 1979, c. 404, as amended from time to time, apply for the purposes of this Part with such modifications as the circumstances require.Reference in Tobacco Tax Act(7)For greater certainty, a reference in the Tobacco Tax Act, R.S.B.C. 1979, c. 404, as amended from time to time,(a)to the tax in that Act shall be read as a reference to the tax imposed by the by-law;(b)to British Columbia or the provincial government shall be read as a reference to the council or the Cowichan Tribes, as the circumstances require;(c)to a consumer in that Act shall be read as a reference to a consumer as defined in this Part; and(d)to that Act shall be read as a reference to this Part.Inclusion of provisions(8)For greater certainty, the Tobacco Tax Act, R.S.B.C. 1979, c. 404, referred to in subsection (6) includes all provisions of that Act relating to(a)suspension or cancellation of permits;(b)payment of security by dealers;(c)payment of remuneration to dealers;(d)powers of inspection;(e)audit and assessment;(f)collection remedies;(g)injunctions;(h)imposition of penalties and interest;(i)seizure by officials;(j)claims for bad debt refunds; and(k)subject to subsection (4), rights of appeal.

Confidentiality40No person shall provide access to information obtained in the administration of this Part or any by-law made under this Part that may directly or indirectly identify a person except(a)for the purposes of administering or enforcing this Part or a by-law made under this Part;(b)for the purposes of any legal proceedings;(c)to the person to whom the information relates;(d)to the council and any officer of the tax administration of the Cowichan Tribes who is authorized by the council, for the purposes of formulating or implementing the fiscal policy of the Cowichan Tribes; and(e)to any person legally entitled to it under any Act of Parliament or of the legislature of a province, solely for the purposes for which that person is entitled to it.

$800,000,000 granted94From and out of the Consolidated Revenue Fund there may, on the requisition of the Minister of Industry, be paid and applied a sum not exceeding eight hundred million dollars, plus interest thereon compounded monthly based on the average daily balance outstanding for the month and calculated from the day on which this Act received first reading in the House of Commons to the day on which this Act is assented to at an annual rate, in each month in which the interest is calculated, that is equivalent to ninety per cent of the simple arithmetic mean of the annual rate of yield on the three month treasury bills that were issued and sold in the immediately preceding month, for payment to the Canada Foundation for Innovation for its use.