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Business Development Bank of Canada Act

Version of section 28 from 2002-12-31 to 2014-12-15:

Marginal note:Hybrid capital instruments

  •  (1) With the approval of the Governor in Council on the recommendation of the Minister of Finance, the Bank may issue to persons other than the Crown hybrid capital instruments prescribed, in whole or in part, as equity of the Bank under paragraph 30(2)(d).

  • Marginal note:Crown not liable

    (2) The Crown is not in any way liable for payment of amounts owing under an instrument issued under subsection (1).

  • Marginal note:Instruments not shares

    (3) For greater certainty, an instrument issued under subsection (1) is not a share within the meaning of Part X of the Financial Administration Act.

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