Business Development Bank of Canada Act
Marginal note:Loans, investments and guarantees
14. (1) The Bank may make loans to, or investments in, any person, or give guarantees in relation to any person.
Marginal note:How loans, etc., may be made
(2) The loans, investments and guarantees may be made or given directly, through arrangements with other financial institutions or by the Bank as a member of a financing syndicate.
Marginal note:Criteria for making loans, etc.
(3) The loans, investments and guarantees may be made or given only where, in the opinion of the Board or any committee or officer designated by the Board,
(a) the person is engaged, or is about to engage, in an enterprise in Canada;
(b) the amount invested, or to be invested, in the enterprise by persons other than the Bank and the character of the investment are such that the Bank may reasonably expect that those persons will have a continuing commitment to the enterprise; and
(c) the enterprise may reasonably be expected to prove successful.
Marginal note:Complementary to commercial financial institutions
(4) The loans, investments and guarantees are to fill out or complete services available from commercial financial institutions.
Marginal note:Acquiring and dealing with property
(5) In any circumstances where the Bank may make a loan or investment to a person, or give a guarantee in relation to a person, under this section, the Bank may
(a) purchase or otherwise acquire real or personal property, including accounts receivable; and
(b) subject to any right of redemption that may exist, hold, lease to the person or subsequently sell, dispose of or otherwise deal with the property.
- 1995, c. 28, s. 14;
- 2001, c. 34, s. 9(F).
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