Financial Administration Act
89.1 (1) The directors of a parent Crown corporation to which a directive is given shall ensure that the directive is implemented in a prompt and efficient manner and, if in so doing they act in accordance with section 115, they are not accountable for any consequences arising from the implementation of the directive.
Marginal note:Best interests
(2) Compliance by a parent Crown corporation with a directive is deemed to be in the best interests of the corporation.
Marginal note:Definition of directive
(3) In this section, directive means
(a) a directive given pursuant to subsection 89(1), 94(2) or 114(3);
(b) a direction given under subsection 5(2) of the Canada Mortgage and Housing Corporation Act, subsection 9(2) of the Canadian Commercial Corporation Act, subsection 11(1) of the Canadian Dairy Commission Act or subsection 34(3) of the Enterprise Cape Breton Corporation Act; or
- 1991, c. 24, s. 24;
- 1998, c. 10, s. 173.
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