Editing Rupert's Land (section)

===Surrender of the territory===
{{See also|Timeline of Rupert's Land and North-Western Territory transfer}}
In 1869–1870, when the Hudson's Bay Company surrendered its charter to the British Crown, it received £300,000 in compensation. Control was originally planned to be transferred on 1 December 1869, but due to the premature action of the new lieutenant governor, [[William McDougall (politician, born 1822)|William McDougall]], the people of Red River formed a provisional government that took control until arrangements could be negotiated by leaders of what is known as the [[Red River Rebellion]] and the newly formed government of Canada. As a result of the negotiations, Canada asserted control on 15 July 1870.{{citation needed|date=July 2022}}

The transaction was three-cornered. On 19 November 1869, the company surrendered its charter under its letters patent to the British Crown, which was authorized to accept the surrender by the Rupert's Land Act. By [[order-in-council]] dated 23 June 1870,<ref>{{Cite web |title=Rupert's Land and North-Western Territory Order |url=https://www.solon.org/Constitutions/Canada/English/rlo_1870.html |url-status=dead |archive-url=https://web.archive.org/web/20110720084637/http://www.solon.org/Constitutions/Canada/English/rlo_1870.html |archive-date=20 July 2011 |website=solon.org}}</ref> the British government admitted the territory to Canada, under s. 146 of the [[Constitution Act, 1867]],<ref>{{cite web |date=18 October 2015 |title=Constitution Act, 1867 s. 146 |url=http://laws.justice.gc.ca/eng/Const/page-8.html |website=Justice Laws Website |publisher=Department of Justice}}</ref> effective 15 July 1870, subject to the making of treaties with the sovereign indigenous nations to provide their consent to the Imperial Crown to exercise its sovereignty pursuant to the limitations and conditions of the Rupert's Land documents and the treaties. Lastly, the Government of Canada compensated the Hudson's Bay Company £300,000 (£35,977,894 [[pound sterling]] in 2019 money, or $60,595,408 Canadian dollars) for the surrender of its charter on the terms set out in the order-in-council.

The company retained its most successful trading posts and one-twentieth of the lands surveyed for immigration and settlement.{{citation needed|date=July 2022}}