Export Development Canada Exercise of Certain Powers Regulations

5 (1) Subject to subsection (2), the Corporation may enter into a domestic financial transaction.

(2) A domestic financial transaction to be entered into by the Corporation requires the approval of the Minister and the Minister of Finance if it is entered into with or in respect of a person whose annual export transaction and foreign market business volume, at the time of the person’s request for credit to the Corporation, is less than 50 per cent of that person’s total annual business volume.

(3) Despite subsection (2), the approval of the Minister and the Minister of Finance is not required if, within 48 months before the person’s request for credit, the Ministers approved a domestic financial transaction entered into by the Corporation with or in respect of that person.