Powers of Corporation
4(1)Subject to subsection (2), the Corporation has the power to do anything that the Corporation considers necessary or convenient for, or incidental or conducive to, the carrying out of its purposes and also to do such other things as a company is empowered to do under subsection 14(1) of the
Companies Act.
4(2)Subject to the approval of the Lieutenant-Governor in Council, the Corporation has the capacity
(a)
to carry on its business, manage its affairs and exercise its powers outside the Province,
(b)
to enter into an agreement with a government of another province or territory of Canada or an agency of that government,
(c)
to undertake, implement, organize, conduct and manage the operations that are the subject of an agreement with a government of another province or territory of Canada or an agency of that government,
(d)
to incorporate one or more subsidiaries under the
Business Corporations Act to carry out its purposes,
(e)
to acquire or hold shares or other ownership interests in a subsidiary,
(f)
to enter into, terminate or amend a shareholders’ agreement in respect of a subsidiary,
(g)
to elect the board of directors of a subsidiary, and
(h)
to take any other measures compatible with its purposes as the Lieutenant-Governor in Council requires.
R.S.1973, c.N-6.1, s.4; 2018, c.5, s.3; 2023, c.2, s.193