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CHAPTER 186

OF THE

REVISED STATUTES, 1989


NOTE - This electronic version of this statute is provided by the Office of the Legislative Counsel for your convenience and personal use only and may not be copied for the purpose of resale in this or any other form. Formatting of this electronic version may differ from the official, printed version. Where accuracy is critical, please consult official sources.

An Act Respecting
Gold Clause Obligations

Short title

1 This Act may be cited as the Gold Clauses Act. R.S., c. 186, s. 1.

Application of Act

2 This Act shall apply to all obligations governed by the law of the Province, including obligations of the Crown. R.S., c. 186, s. 2.

Legal tender discharges obligation

3 Every obligation heretofore or hereafter incurred and whether such obligation is due, accruing due or past due, which gives or purports to give the obligee a right to require payment in gold or in a particular kind or standard of coin or currency, or in an amount of money of the Dominion of Canada or elsewhere measured in gold or in a particular kind or standard of coin or currency, shall be discharged upon payment, dollar for dollar, in any coin or currency, which at the time of payment is legal tender at the place of payment named in such obligation for public and private debts. R.S., c. 186, s. 3.

Action to enforce payment

4 Notwithstanding that any obligation heretofore or hereafter incurred, whether such obligation is due, accruing due or past due, gives or purports to give the obligee the right to require payment in gold or in a particular kind or standard of coin or currency, or in an amount of money of the Dominion of Canada or elsewhere measured in gold or in a particular kind or standard of coin or currency, no action shall be brought or maintained whereby to enforce such obligation or to enforce any judgment obtained outside of the Province based on any such obligation, except to the amount of the face value of such obligation, dollar for dollar, in any coin or currency which at the time of payment is legal tender at the place of payment named in such obligation for public and private debts. R.S., c. 186, s. 4.

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