Canada Mortgage and Housing Corporation Act — C-7 28
Ancillary powers 28 (1) The Corporation may (a) manage, acquire, hold, lend, lease and dispose of real and personal property; (b) give guarantees with respect to any property disposed of by the Corporation; (b.1) procure the incorporation, dissolution or amalgamation of a corporation; (c) enter into any kind of transaction for the financial management of the Corporation and make any investment, including transactions and investments that are insured or guaranteed by the Corporation and, without restricting the generality of the foregoing, enter into (i) a currency or interest rate swap agreement, (ii) a basis swap agreement, (iii) a spot, future, forward or other foreign exchange agreement, (iv) a cap, collar or floor transaction, (v) a financial swap, (vi) a forward rate agreement, (vii) a sale and repurchase agreement, a purchase and resale agreement, a reverse purchase agreement or a reverse sale agreement, (viii) a spot, future, forward or other financial contract, (ix) an agreement to buy or sell or borrow or lend securities, (x) an agreement to issue securities on the basis of assets or investments, (xi) a guarantee agreement, (xii) any derivative, combination or option in respect of, or agreement similar to, an agreement, transaction or contract referred to in any of subparagraphs (i) to (xi), or (xiii) any master agreement in respect of any agreement, transaction or contract referred to in any of subparagraphs (i) to (xii); (d) borrow from the Minister and expend moneys appropriated by Parliament to be lent by the Minister to the Corporation or expend any moneys appropriated by Parliament to be expended by the Corporation, for the purposes for which those moneys are appropriated; (e) exercise or perform any other powers, duties or functions conferred on or required to be performed by the Corporation under any other Act or order in council; and (f) do any act or thing incidental to the conduct of the business of the Corporation. Funds (1.01) For greater certainty, the power of the Corporation referred to in paragraph (1)(c) may be exercised in relation to any fund referred to in any of the Housing Acts. Vesting (1.1) The Governor in Council may, by order, transfer to the Corporation any land and interests in land the title to which is vested in Her Majesty, and the title thereto vests in the Corporation on the date fixed in the order or, where no date is so fixed, on the date of the order. Idem (1.2) There shall be deemed to be vested in the Corporation title to land and interests in land acquired pursuant to The Dominion Housing Act, 1935 , The National Housing Act, 1938 , The National Housing Act, 1944 or the Housing Acts and title to which, apart from this subsection, is vested in Her Majesty. Payments in lieu of taxes (2) The Corporation may pay to a municipality or other taxing authority, in respect of land and interests in land title to which is vested in the Corporation, an amount equivalent to the taxes that would be payable in respect of the property were it not the property of Her Majesty. Steps to safeguard (3) The Corporation may, to protect its security in respect of any indebtedness to it, make loans to the debtor and take such other measures and steps as may be required in accordance with normal mortgage practice to safeguard the interests of the Corporation. R.S., 1985, c. C-7, s. 28; R.S., 1985, c. 25 (4th Supp.), s. 34; 1992, c. 32, s. 3; 1999, c. 27, s. 33