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Business Development Bank of Canada Act

Version of section 30 from 2002-12-31 to 2014-12-15:

Marginal note:Limit on borrowings and guarantees

  •  (1) The aggregate of

    • (a) the borrowings of the Bank under subsection 18(1) and section 19, and

    • (b) the contingent liabilities of the Bank in the form of guarantees given by it

    must not at any time exceed twelve times the equity of the Bank.

  • Marginal note:Definition of equity

    (2) For the purpose of subsection (1), the equity of the Bank consists of

    • (a) the amounts paid for its shares, including any contributed surplus;

    • (b) the retained earnings of the Bank, which may be positive or negative;

    • (c) amounts paid to the Bank as capital by Parliamentary appropriation; and

    • (d) such proceeds of debt instruments, hybrid capital instruments or other arrangements as may be prescribed as equity by the Governor in Council.

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