Section 3 — Canada Business Corporations Act: Application of Act

This Act applies to every corporation incorporated and every body corporate continued as a corporation under this Act that has not been discontinued under this Act. [Repealed, 1991, c. 45, s. 551] The following do not apply to a corporation: [Repealed, 2009, c. 23, s. 344] the Canada Not-for-profit Corporations Act ; the Winding-up and Restructuring Act ; and the provisions of a Special Act, as defined in section 87 of the Canada Transportation Act , that are inconsistent with this Act. No corporation shall carry on the business of a bank; an association to which the Cooperative Credit Associations Act applies; a company or society to which the Insurance Companies Act applies; or a company to which the Trust and Loan Companies Act applies. No corporation shall carry on business as a degree-granting educational institution unless expressly authorized to do so by a federal or provincial agent that by law has the power to confer degree-granting authority on an educational institution.