Acts and Regulations

N-6.2 - New Brunswick Municipal Finance Corporation Act

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Powers of Corporation
8The Corporation has power
(a) to raise money by the issue and sale of securities and to incur temporary loans from any chartered bank, credit union, corporation or government;
(b) to purchase, redeem or pay off any securities, including the purchase or rollover of its own securities;
(c) to enter into agreements that seem conducive to its object including agreements with any municipal, local or other government or authority;
(d) to purchase, take on lease or in exchange, hire, or otherwise acquire and hold real or personal property and any rights or privileges that the Corporation considers necessary or convenient for the purpose of its business;
(e) to manage, improve, sell, exchange, lease or otherwise dispose of or deal with the property and rights of the Corporation;
(f) to draw, make, accept, endorse, execute and issue promissory notes, bills of exchange, and any other negotiable or transferable instrument;
(g) to lend money to municipalities and municipal enterprises, to accept and receive therefrom securities and to sell, pledge, mortgage or otherwise dispose of or deal with such securities;
(h) to do or to authorize some person to do all acts as are necessary to comply with any law in force in Canada or in any other country or in any political subdivision thereof relating to the issue, registration, qualification under securities laws or sale of any securities;
(i) to approve one or more registrars or agents within the Province or elsewhere and to grant such persons the powers, rights and authorities required or useful in connection with the issue, authentication, registration, transfer, exchange, substitution, sale or payment of or in respect of securities;
(j) to do all or any of the above things as principal, agent, contractor or otherwise;
(k) to do all other things as are incidental or conducive to the attainment of the object and the exercise of the powers of the Corporation.
1983, c.59, s.3