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CANADA SHIPPING ACT - Canada Shipping Act Gold Franc Conversion Regulations
CANADA SHIPPING ACT
Canada Shipping Act Gold Franc Conversion Regulations
SOR/78-73
AN ACT TO AMEND THE CURRENCY AND EXCHANGE ACT AND OTHER ACTS IN CONSEQUENCE
THEREOF
Canada
Shipping Act Gold Franc Conversion Regulations
REGULATIONS RESPECTING CONVERSION OF VALUES
EXPRESSED IN GOLD FRANCS INTO CANADIAN DOLLAR EQUIVALENTS
FOR PURPOSES OF THE CANADA SHIPPING ACT
SHORT TITLE
1. These Regulations may be cited as the Canada Shipping Act Gold
Franc Conversion Regulations.
INTERPRETATION
2. In these Regulations, "S.D.R." means the special drawing
rights issued by the International Monetary Fund.
GENERAL
3. For the purposes of the Canada Shipping 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.
Established by:
SOR/78-73 24 January 1978.
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