WASHINGTON, D.C. 20549


                                    FORM F-X

                             PROCESS AND UNDERTAKING


A.   Name of issuer or person filing ("Filer"): CENTRAL FUND OF CANADA LIMITED

B.   This is (check one):

     /X/  An original filing for the Filer.

     / /  An amended filing for the Filer.

C.   Identify the filing in conjunction with which this form is being filed:

     Name of registrant:                CENTRAL FUND OF CANADA LIMITED

     Form type:                         FORM F-10

     File number (if known):            333-113939

     Filed by:                          CENTRAL FUND OF CANADA LIMITED

     Date filed (if filed
     concurrently, so indicate):        MARCH 25, 2004, FILED CONCURRENTLY

D.   The Filer is incorporated or organized under the laws of


     and has its principal place of business at

          HALLMARK ESTATES, #805, 1323-15TH AVENUE S.W.,
          CALGARY, ALBERTA, CANADA T3C 0X8, (403) 228-5861.

E.   The Filer designates and appoints MARTIN POMERANCE ("AGENT") LOCATED AT:

          250 PARK AVENUE, NEW YORK, NY 10177, (212) 415-9200

     as the agent (the "Agent") of the Filer upon whom may be served any
     process, pleadings, subpoenas, or other papers in:

          (a)  any investigation or administrative proceeding conducted by the
               Commission; and

          (b)  any civil suit or action brought against the Filer or to which
               the Filer has been joined as defendant or respondent, in any
               appropriate court in any place subject to the jurisdiction of any
               state or of the United States, or of any of its territories or
               possessions or of the District of Columbia, where the
               investigation, proceeding or cause of action arises out of or
               relates to or concerns any offering made or purported to be made
               in connection with securities registered or qualified by the
               Filer on Form F-10 on March 25, 2004 or any purchases or sales of
               any security in connection therewith. The Filer stipulates and
               agrees that any such civil suit or action or administrative
               proceeding may be commenced by the service of process upon, and
               that the service of an administrative subpoena shall be effected
               by service upon such agent for service of process, and that the
               service as aforesaid shall be taken and held in all courts and
               administrative tribunals to be valid and binding as if personal
               service thereof had been made.

F.   The Filer stipulates and agrees to appoint a successor agent for service of
     process and file an amended Form F-X if the Filer discharges the Agent or
     the Agent is unwilling or unable to accept service on behalf


     of the Filer at any time until six years have elapsed from the date the
     Filer has ceased reporting under the Exchange Act. The Filer further
     undertakes to advise the Commission promptly of any change to the Agent's
     name or address during the applicable period by amendment of this Form,
     referencing the file number of the relevant form in conjunction with which
     the amendment is being filed.

G.   The Filer undertakes to make available, in person or by telephone,
     representatives to respond to inquiries made by the Commission staff, and
     to furnish promptly, when requested to do so by the Commission staff,
     information relating to the Form F-10, the securities to which the Form
     F-10 relates and the transactions in such securities.

     The Filer certifies that it has duly caused this power of attorney,
consent, stipulation and agreement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the city of Ancaster, province of
Ontario, country of Canada, on March 25, 2004.

                                   CENTRAL FUND OF CANADA LIMITED

                                   By /s/ J.C. STEFAN SPICER
                                      J.C. Stefan Spicer
                                      President and Chief Executive Officer


     This statement has been signed by the following person in the capacity
indicated on March 25, 2004.

                                                  /s/ MARTIN POMERANCE
                                                  Martin Pomerance
                                                  Agent for Service