No, Section 17 only deals with natural-born Canadian citizens who at their birth became by the laws of another country a citizen of that other country. Section 16 deals with Canadian citizens who naturalize in another country, Section 18 deals with the case of a minor child whose parent gives up the parent’s Canadian citizenship and so on.
A child who meets Section 17 requirements at least until the age of 21 years is a dual citizen.
I do not care about this enough to look up too much stuff.
https://www.uscitizenship.info/citizenship-library-dual.htm
The official Canadian position on dual citizenship reads in part:
Unlike the law in effect in Canada up to 1977, the present Citizenship Act allows a Canadian citizen to acquire foreign nationality without automatically losing Canadian citizenship. Since February 15, 1977, a Canadian citizen may retain Canadian citizenship, unless he or she voluntarily applies to renounce it and the application is approved by a citizenship judge. The present Act thus makes it possible to have two or more citizenships and allegiances at the same time for an indefinite period. Also, both the US and Canada require specific acts to give up citizenship. Canada requires that someone who wants to give up their Canadian citizenship has to go to a Canadian embassy or consulate and sign a special form in the presence of Canadian officials. The US requires that “A person wishing to renounce his or her US citizenship must voluntarily and with intent to relinquish US citizenship appear in person before a US consular or diplomatic officer, in a foreign country (normally at a US Embassy or Consulate); and sign an oath of renunciation”.