The Tender For Law

Volume 6

Jun 26, 2014 5:12 AM

Gail Marie

I was looking through the Bank of Canada Act...under Business and Powers of the bank....

(o) accept deposits of money that are authorized or required by an Act of Parliament to be transferred to the Bank, and, in accordance with that Act, pay interest on money so deposited and pay out money to any person entitled to it under that Act; and (p) carry on any business activity that is incidental to or consequential on something the Bank is allowed or required to do by this Act.

There is no definition of money in this bank of canada act or the BOE Act that I could find, but this is the definition in the Financial Administration Act

�money� includes negotiable instruments;