Federal Government Participation 39. (1) Subject to section 41, with the approval of the Governor in Council, the Minister of Finance may (a) subscribe for, acquire and hold common shares of the company for the Government of Canada; (b) acquire and hold for the Government of Canada, at a price approved by the Governor in Council, common shares of the company acquired by any corporation declared by statute to be an agent of Her Majesty in right of Canada; and (c) subscribe for, acquire and hold preferred shares of the company for the Government of Canada. (2) Any common shares of the company acquired by the Minister of Finance may, with the approval of the Governor in Council, be transferred to any corporation declared by statute to be an agent of Her Majesty in right of Canada. (3) Any preferred shares of the company acquired by the Minister of Finance may be disposed of in such manner, at such times and for such consideration as is approved by the Governor in Council. (4) Sections 100 to 100.6 of the Canada Corporations Act, chapter C-32 of the Revised Statutes of Canada, 1970, are not binding on Her Majesty except subsections 100.1(1) to (4), which bind Her Majesty and corporations declared by statute to be agents of Her Majesty in right of Canada. R.S., c. T-4, s. 38; R.S., c. 10 (1st Supp.), s. 35.