AMENDMENTS NOT IN FORCE
— 2013, c. 33, s. 228(2)
— 2019, c. 29, s. 276
— 2020, c. 6, s. 8
(2) Subject to subsection (3), the Minister may, with the Governor in Council’s authorization, enter into, on behalf of Her Majesty in right of Canada, any contract that in the Minister’s opinion is necessary to promote the stability or maintain the efficiency of the financial system in Canada, including such a contract to
(a) purchase, acquire, hold, lend or sell or otherwise dispose of securities of an entity;
(b) create a charge on, or right or interest in, securities of an entity held by the Minister;
(c) make a loan to an entity;
(d) provide a line of credit to an entity;
(e) guarantee any debt, obligation or financial asset of an entity; or
(f) provide loan insurance or credit insurance for the benefit of an entity in respect of any debt, obligation or financial asset of the entity.
(2) The portion of subsection 60.2(3) of the Act before paragraph (a) is replaced by the following:
Non-application to certain entities
(3) Paragraph (2)(a) does not apply to
(3) Subsections 60.2(4) to (6) of the Act are replaced by the following:
Section 90 does not apply
(4) Section 90 does not apply if the Minister purchases, acquires or sells or otherwise disposes, under paragraph (2)(a), of shares within the meaning of that section.
Section 61 and Surplus Crown Assets Act do not apply
Payments out of C.R.F.
(6) Any amount payable under or in connection with a contract entered into under this section may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister, at the times and in the manner that the Minister considers appropriate.
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