August 13th, 2012
Follow the events here. Those of you that are unable to attend please post your celebration messages in support of the Bank of Canada and send me your links to share.
Thanks for all that you do for Canada!
Background info why we celebrate the 15th...
Pursuant to the Bank of Canada Act (S.C. 1934, c. 43), when the Bank first opened its doors in 1935, it was a private institution with a capital of five million dollars. The capital was divided into shares of fifty dollars each, represented by share certificates which were offered by the Minister for public subscription in Canada. At the time, the Bank was authorized to pay dividends to the shareholders at a rate of 4.5% per annum payable half yearly.
When the Liberals under Mackenzie King came into power, the Bank of Canada Act was amended (S.C. 1936, c. 22, s. 10) to provide for the nationalisation of the Bank with the issuance of Class B shares to the Government in 1936 which assured that it would have majority control.
In 1938, the Act was further amended and the privately-owned part of the Bank's share capital was retired (S.C. 1938, c. 42, s. 8). Therefore, since August 15, 1938 the Bank of Canada is a Crown Corporation, a public institution, with all its shares issued in the name of the Minister of Finance on behalf of her Majesty in Right of Canada.
Source: Public Information Agent/Agente de l'information publiquePublic Information Office/Service de l'information publiqueCommunications Department/Département des CommunicationsBank of Canada/Banque du Canada234 Wellington Street, Ottawa, On, K1A 0G9
Here are some additional details for the August 15th Celebration at the Bank of Canada in Ottawa.
More details of the day....
10:30am group for a tour of the currency museum.
245 Sparks Street, Ottawa, ON K1A 0G9
13:30 meet at Delta Ottawa City Centre for pre-discussion and chance for any interested press to meet and greet with us.
101 Lyon Street Ottawa Ontario, K1R 5T9 - 5 mins walk from BoC
© 2013 - Authorized by the Canadian Action Party Chief Agent, Sally Patterson Braun