Export Development Act
Version of section 11 from 2009-03-12 to 2020-03-24:
Marginal note:Authorized capital
11 (1) The authorized capital of the Corporation is $3,000,000,000 divided into 30 million shares of the par value of $100 each.
Marginal note:Subscription and payment for shares
(2) Where the Board recommends that the Minister subscribe for unissued shares of the Corporation, the Minister may, if the Minister of Finance concurs, subscribe at par for such number of shares as he considers desirable and the amount of each subscription shall be paid to the Corporation out of the Consolidated Revenue Fund at such times and in such amounts as the Board requires.
Marginal note:Shares not transferable
(3) The shares of the capital stock of the Corporation are not transferable and shall be held in trust for Her Majesty.
- R.S., 1985, c. E-20, s. 11
- 2009, c. 2, s. 261
- Date modified: