Export Development Act — E-20 10
Purposes 10 (1) The Corporation is established for the purposes of (a) supporting and developing, directly or indirectly, domestic business, at the request of the Minister and the Minister of Finance for a period specified by those Ministers; (b) supporting and developing, directly or indirectly, Canada’s export trade and Canadian capacity to engage in that trade and to respond to international business opportunities; and (c) providing, directly or indirectly, development financing and other forms of development support in a manner that is consistent with Canada’s international development priorities. Publication in Canada Gazette (1.01) As soon as feasible after a request is made under paragraph (1)(a), the Minister shall publish in the Canada Gazette a notice of that fact as well as the dates on which the period to which the request relates begins and ends. Complementary to commercial products and services (1.02) The Corporation shall carry out its purposes, with regard to domestic business, in a manner that complements the products and services available from commercial financial institutions and commercial insurance providers. Powers (1.1) Subject to any regulations that may be made under subsection (6), in carrying out its purposes under subsection (1), the Corporation may (a) acquire and dispose of any interest in any property by any means; (b) enter into any arrangement that has the effect of providing, to any person, any insurance, reinsurance, indemnity or guarantee; (c) enter into any arrangement that has the effect of extending credit to any person or providing an undertaking to pay money to any person; (d) take any security interest in any property; (e) prepare, compile, publish and distribute information and provide consulting services; (f) procure the incorporation, dissolution or amalgamation of subsidiaries; (g) acquire and dispose of any interest in any entity by any means; (h) make any investment or enter into any transaction, including any transaction whose object is the management of portfolio risks, that is necessary or desirable for the financial management of the Corporation; (i) act as agent for any person or authorize any person to act as agent for the Corporation; (j) take such steps and do all such things as to it appear necessary or desirable to protect the interests of the Corporation; and (k) generally, do all such other things as are incidental or conducive to the exercise of its powers, the performance of its functions and the conduct of its business. Use of services and facilities of departments, etc. (2) In exercising its powers under this Act, the Corporation shall, where appropriate, make use of the services and facilities of departments, boards and agencies of the Government of Canada. Limit of liability (3) Subject to subsection (4), the contingent liability of the Corporation in respect of the principal amount owing under all outstanding arrangements entered into under paragraph (1.1)(b) shall at no time exceed (a) for the period beginning on the day on which this subsection comes into force and ending on September 30, 2020, the amount that the Minister of Finance determines during that period, or, if that Minister redetermines the amount during that period, the most recently determined amount; and (b) on and after October 1, 2020, an amount equal to the amount determined by the Minister of Finance under paragraph (a), or, if that Minister redetermined the amount under that paragraph, an amount equal to the last amount so determined. Publication in Canada Gazette (3.1) As soon as feasible after determining or redetermining an amount under paragraph (3)(a), the Minister of Finance shall publish a notice of that amount in the Canada Gazette . Exclusion (4) The amount of the contingent liability referred to in subsection (3) that the Corporation has insured or reinsured or with respect to which the Corporation has a right, by agreement, to be indemnified shall not be taken into account in ca