Carriage by Air Act Gold Franc Conversion Regulations
Regulations Respecting Conversion of Values Expressed in Gold Francs into Canadian Dollar Equivalents for Purposes of Subsection 2(6) of the Carriage by Air Act
P.C. 1983-19 1983-01-13His Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 13.1 of the Currency and Exchange Act, is pleased hereby to make the annexed Regulations respecting conversion of values expressed in gold francs into Canadian dollar equivalents for purposes of subsection 2(6) of the Carriage by Air Act.Short Title
1 These Regulations may be cited as the Carriage by Air Act Gold Franc Conversion Regulations.
2 In these Regulations,
gold francs means the francs referred to in subsection 2(6) of the Carriage by Air Act; (francs-or)
S.D.R. means the special drawing rights issued by the International Monetary Fund. (D.T.S.)
3 For the purposes of subsection 2(6) of the Carriage by Air Act, the equivalent dollar value of gold francs shall be determined as follows:
(a) gold francs shall be converted into S.D.R.'s at the exchange rate of 15.075 gold francs per S.D.R.; and
(b) S.D.R.'s shall be converted into Canadian dollars at the exchange rate established by the International Monetary Fund for S.D.R.'s and Canadian dollars.
SOR/86-647, s. 1(F).