Marginal note:Guarantee
14 (1) The Corporation may — with the Minister of Finance’s approval and on any terms or conditions that are specified by him or her — guarantee payment of any or all of the principal or interest, or both, in respect of securities issued on the basis of housing loans. The terms and conditions may, among others, relate to the amount and price of the guarantee, the characteristics of the securities to be guaranteed and the manner in which the securities are to be issued.
Marginal note:Regulations — Governor in Council
(2) The Governor in Council may, on the Minister of Finance’s recommendation, make regulations respecting the characteristics of those who may issue or sell the securities.
Marginal note:Regulations — Minister of Finance
(3) The Minister of Finance may make regulations respecting the characteristics of the housing loans.
Marginal note:Compensation
(4) The Minister of Finance may fix a fee to be paid by the Corporation to the Receiver General to compensate Her Majesty for Her exposure to the risks arising from a guarantee referred to in subsection (1). That Minister shall notify the Corporation in writing of the fee.
- R.S., 1985, c. N-11, s. 14
- R.S., 1985, c. 25 (4th Supp.), s. 9
- 1992, c. 32, s. 13
- 1999, c. 27, s. 3
- 2012, c. 19, s. 352
- Date modified: