Business Development Bank of Canada Act
Marginal note:Limit on borrowings and guarantees
30 (1) The aggregate of
(a) the borrowings of the Bank under subsection 18(1) and section 19, and
(b) the contingent liabilities of the Bank in the form of guarantees given by it
must not at any time exceed twelve times the equity of the Bank.
Marginal note:Definition of equity
(2) For the purpose of subsection (1), the equity of the Bank consists of
(a) the amounts paid for its shares, including any contributed surplus;
(b) the retained earnings of the Bank, which may be positive or negative;
(c) amounts paid to the Bank as capital by Parliamentary appropriation; and
(d) such proceeds of debt instruments, hybrid capital instruments or other arrangements as may be prescribed as equity by the Governor in Council.
- 1995, c. 28, s. 30
- 2014, c. 39, s. 221(F)
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