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Budget Implementation Act, 2009 (S.C. 2009, c. 2)

Assented to 2009-03-12

Marginal note:R.S., c. W-11; 1996, c. 6, s. 134

Winding-up and Restructuring Act

258. Section 3 of the Winding-up and Restructuring Act is amended by striking out “or” at the end of paragraph (i), by adding “or” at the end of paragraph (j) and by adding the following after paragraph (j):

  • (k) if, in the case of a company that is a federal member institution, as defined in section 2 of the Canada Deposit Insurance Corporation Act, in respect of which the Canada Deposit Insurance Corporation has been appointed as receiver, a transfer of part of the business of the federal member institution to a bridge institution has been substantially completed.

Coming into Force

Marginal note:Order in council

  • 259. (1) The provisions of this Division, except for sections 235 and 254 and subsection 257(1), come into force on a day or days to be fixed by order of the Governor in Council.

  • Marginal note:Retroactivity

    (2) Section 254 is deemed to have come into force on January 27, 2009.

Division 3

Marginal note:R.S., c. E-20; 2001, c. 33, s. 2(F)

Export Development Act

Marginal note:1993, c. 26, s. 4(1)

  • 260. (1) Subsection 10(1) of the Export Development Act is replaced by the following:

    Marginal note:Purposes

    • 10. (1) The Corporation is established for the purposes of supporting and developing, directly or indirectly,

      • (a) domestic trade and Canadian capacity to engage in that trade and to respond to domestic business opportunities; and

      • (b) Canada’s export trade and Canadian capacity to engage in that trade and to respond to international business opportunities.

    • Marginal note:Complementary to commercial products and services

      (1.01) The Corporation shall carry out its purposes, with respect to domestic trade and domestic business, in a manner that complements the products and services available from commercial financial institutions and commercial insurance providers.

  • Marginal note:2001, c. 33, s. 8

    (2) Paragraph 10(3)(b) of the Act is replaced by the following:

    • (b) $45,000,000,000.

261. Subsection 11(1) of the Act is replaced by the following:

Marginal note:Authorized capital

  • 11. (1) The authorized capital of the Corporation is $3,000,000,000 divided into 30 million shares of the par value of $100 each.

Marginal note:1993, c. 26, s. 8

  • 262. (1) The portion of subsection 24(1) of the Act before paragraph (a) is replaced by the following:

    Marginal note:Limit of liability

    • 24. (1) Subject to subsection (2), in respect of transactions entered into under section 23, the total of the following shall at no time exceed $20,000,000,000:

  • Marginal note:1993, c. 26, s. 8

    (2) The portion of subsection 24(1) of the English version of the Act after paragraph (c) is repealed.