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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.
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(2) |
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.
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(3) |
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.
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(4) |
The
aggregate amount outstanding on
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(a)
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loans made
to the company under this section, and
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(b)
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loans made
to the company the repayment of which and the payment of interest on which is
guaranteed by Her Majesty under this section,
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shall not at
any time exceed forty million dollars. R.S., c. T-4, s. 41.
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