Canada Council for the Arts Act

Marginal note:Property and investments

• 17 (1) The Council may, for the purposes of this Act, acquire, hold, manage and dispose of real, personal, movable and immovable property and, subject to this Act and on the advice of the Investment Committee, may invest in any manner it sees fit any money standing to the credit of the Endowment Fund or the University Capital Grants Fund or received by the Council by gift, bequest or otherwise, and may hold, manage and dispose of the investment.

• Marginal note:Proceeds of disposal of investments

  (2) The proceeds of the sale or other disposition of any investment made out of the Endowment Fund or the University Capital Grants Fund shall be credited to the fund out of which the investment was made.