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Contents Intoroduction Preliminaries Chapter 1 Chapter 2
Chapter 3 Chapter 4 Appendix Index

Federal Government Participation

42. (1)

On the recommendation of the Minister, the Minister of Finance may lend money to the company on terms and conditions approved by the Governor in Council and acquire and hold securities of the company therefor.


On the recommendation of the Minister, the Governor in Council may authorize the guarantee by Her Majesty in right of Canada of the repayment of any moneys borrowed by the company and the payment of the interest thereon and may approve or decide the form, manner and conditions of the guarantees.


A guarantee under this section may be signed on behalf of Her Majesty by the Minister of Finance or by such other person as the Governor in Council may designate, and that signature is conclusive evidence for all purposes that the guarantee is valid and that the requirements of this section have been complied with.


The aggregate amount outstanding on


loans made to the company under this section, and


loans made to the company the repayment of which and the payment of interest on which is guaranteed by Her Majesty under this section,

shall not at any time exceed forty million dollars. R.S., c. T-4, s. 41.

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