Canada Mortgage and Housing Corporation Act

Marginal note:Borrowing from the Crown

• 21 (1) Subject to such limits as may be established by the Governor in Council, the Corporation may borrow money from the Crown.

• Marginal note:Borrowing otherwise than from the Crown

  (2) The Corporation may borrow money otherwise than from the Crown and is hereby authorized to so borrow money in amounts such that the total indebtedness outstanding at any time in respect of such borrowings does not exceed the aggregate of

  • (a) fifteen billion dollars, and

  • (b) any additional amounts authorized by Parliament for the purposes of this subsection under an appropriation Act or any other Act of Parliament.

• Marginal note:Issuing obligations

  (3) The Corporation may issue or reissue, sell or pledge debt securities or obligations, secured or unsecured, of the Corporation.

• Marginal note:Apportioning costs of borrowing

  (4) For the purposes of determining the costs of its activities, the Corporation may apportion the costs related to its borrowings as it considers appropriate.