A-6.001 - Financial Administration Act

Section 80 Disposition versions

2008-12-15

80. In addition to the powers granted to them by section 79, bodies which have the power to borrow may, if they deem it advisable for their financial management, 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, acquire, hold, invest in, conclude, dispose of or terminate, according to their terms, such financial instruments or contracts as the Government may determine for one or more bodies or for a category of bodies.

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 financial instruments or contracts.

2000, c. 15, s. 80; 2007, c. 41, s. 4.

2000-11-15

80. In addition to the powers granted to them by section 79, bodies which have the power to borrow may, with the authorizations and approvals required by law for the exercise of that power, and if they deem it advisable for sound and efficient financial management, acquire, hold, invest in, conclude, dispose of or terminate, according to their terms, such financial instruments or contracts as the Government may determine for one or more bodies or for a category of bodies.

This section does not apply to a body in respect of a financial instrument or contract, insofar as the power to acquire, hold, invest in or conclude such an instrument or contract is expressly provided by law or by the Act constituting the body.

2000, c. 15, s. 80.