National Housing Act (R.S.C., 1985, c. N-11)

Act current to 2013-05-20 and last amended on 2013-01-01. Previous Versions

Marginal note:Superintendent to ascertain expenses

  • 21.3 (1) The Superintendent shall, before December 31 in each year, ascertain the total amount of expenses incurred during the preceding fiscal year in connection with the administration of section 21.2.

  • Marginal note:Obligation to pay

    (2) The Corporation shall pay the amount within 30 days after the day on which the Superintendent notifies it in writing of the amount.

  • Marginal note:Fiscal year

    (3) For the purpose of subsection (1), the fiscal year is the period beginning on April 1 in one year and ending on March 31 in the next year.

  • R.S., 1985, c. 8 (1st Supp.), s. 1, c. 25 (4th Supp.), s. 18;
  • 1992, c. 32. s. 26;
  • 1999, c. 27, s. 3;
  • 2011, c. 15, s. 24;
  • 2012, c. 19, s. 358.
Marginal note:Regulations

21.4 The Governor in Council may, on the Minister of Finance’s recommendation, make regulations respecting the Corporation’s activities under this Part, including regulations

  • (a) respecting the conditions and limitations to which those activities are subject;

  • (b) respecting the terms and conditions on which and manner in which the Corporation may exercise its powers under this Part; and

  • (c) prescribing anything that is to be prescribed by this Part.

  • R.S., 1985, c. 8 (1st Supp.), s. 1, c. 25 (4th Supp.), s. 19;
  • 1992, c. 32. s. 27;
  • 1999, c. 27, s. 3;
  • 2011, c. 15, s. 24;
  • 2012, c. 19, s. 358.

PART I.1

COVERED BONDS

Definitions

Marginal note:Definitions

21.5 The following definitions apply in this Part.

“affiliate”

« groupe »

“affiliate” means an affiliate as defined in section 2 of the Bank Act.

“covered bond”

« obligation sécurisée »

“covered bond” means, except in paragraph 21.53(b), a debt obligation in relation to which the principal and interest owing are guaranteed to be paid from the loans or other assets held by a guarantor entity.

“covered bond collateral”

« garantie d’obligations sécurisées »

“covered bond collateral” means the loans or other assets that secure the payment of principal, interest and any other amounts owing in relation to the covered bonds that are issued under a registered program.

“derivatives agreement”

« contrat dérivé »

“derivatives agreement” means a financial agreement whose obligations are derived from, referenced to, or based on, one or more underlying reference items.

“guarantor entity”

« societé garante »

“guarantor entity” means an entity that is created and organized for the principal purpose of holding loans or other assets as the covered bond collateral for a registered program with the intention of legally isolating those loans or other assets from the registered issuer.

“registered issuer”

« émetteur inscrit »

“registered issuer” means an institution that is registered in the registry under section 21.53.

“registered program”

« programme inscrit »

“registered program” means a program that is registered in the registry under section 21.55.

“registry”

« registre »

“registry” means the registry established under section 21.51.

  • R.S., 1985, c. 8 (1st Supp.), s. 1;
  • 1992, c. 32, s. 28;
  • 1999, c. 27, s. 3;
  • 2012, c. 19, s. 356.