European Bank for Reconstruction and Development Agreement Act

Marginal note:Initial subscription

• 6 (1) The Minister may provide for payment out of the Consolidated Revenue Fund to the Bank, in the manner and at the times provided for in the Agreement, of an amount not exceeding one hundred and twenty million American dollars, in respect of Canada’s initial subscription of shares.

• Marginal note:Financial assistance

  (2) The Minister may provide financial assistance to the Bank by way of

  • (a) direct payments;

  • (b) the issuance of non-interest-bearing, non-negotiable demand notes;

  • (c) the purchase of shares on behalf of His Majesty in right of Canada;

  • (d) the issuance of guarantees; or

  • (e) any other manner that the Minister considers appropriate.

• Marginal note:Limit

  (3) The Minister may make payments out of the Consolidated Revenue Fund for the purposes of subsection (2) in an aggregate amount not exceeding, in any given period, the amount specified for that purpose in respect of that period in an appropriation by Parliament.