Canada Deposit Insurance Corporation Act

Marginal note:Loans to Corporation

• 10.1 (1) At the request of the Corporation, the Minister may, out of the Consolidated Revenue Fund, lend money to the Corporation on such terms and conditions as the Minister may establish.

• Marginal note:Other borrowing

  (2) The Corporation may borrow money otherwise than under subsection (1) and may borrow by any means, including the issuance and sale of bonds, debentures, notes or any other evidence of indebtedness.

• Marginal note:Total indebtedness

  (3) The total principal indebtedness outstanding at any time in respect of borrowings under this section shall not exceed

  • (a) six billion dollars; or

  • (b) such greater amount as may be authorized for the purposes of this subsection by Parliament under an appropriation Act.

• Marginal note:Fees for borrowing

  (4) The Minister may fix a fee to be paid by the Corporation to the Receiver General in respect of any borrowings by the Corporation and the Minister shall notify the Corporation in writing of any such fee.