A-6.001 - Financial Administration Act

Section 79 Disposition versions

2008-12-15

79. Bodies which have the power to borrow may, with the authorizations and approvals required by law for the exercise of that power and with the authorization of and subject to the conditions determined by the Minister of Finance, conclude currency exchange agreements or interest rate exchange agreements, or terminate such agreements according to their terms.

The authorization of the Minister of Finance is not required if the transaction must, by law, be authorized or approved by the Government, nor is it required in the cases and subject to the terms and conditions that may be determined by the Government in a regulation.

The provisions of a regulation under the second paragraph may apply in whole or in part to one or more bodies and specify the applicable categories of currency exchange or interest rate exchange agreements.

2000, c. 15, s. 79; 2007, c. 41, s. 3.

2000-11-15

79. Bodies which have the power to borrow may, with the authorizations and approvals required by law for the exercise of that power, conclude currency exchange agreements or interest rate exchange agreements, or terminate such agreements according to their terms.

This section does not apply to a body in respect of an agreement referred to in this section, insofar as the body is expressly empowered to conclude such an agreement by law or by the Act constituting the body.

2000, c. 15, s. 79.