(1) Subsections 132 (1), (2), (3), (4), (5), (5.1), (5.2), (6), (7) and (8) and 136 (1), (3), (4) and (4.2) of the Business Corporations Act, as modified in accordance with subsections (2) and (3), apply to the Corporation and its officers and directors. O. Reg. 210/11, s. 5 (1).
(2) In the application of subsections 132 (4) and (5.2) and clause 132 (7) (a) of that Act,
(a) references to the shareholders are read as references to the Minister; and
(b) the provisions are read with such other modifications as are necessary by reason of clause (a). O. Reg. 210/11, s. 5 (2).
(3) In the application of subsection 132 (8) of that Act, the words "its shareholders" in the portion before clause (a) are read as "the Minister" and clauses (a) and (b) of that subsection are read as,
(a) the Minister confirms or approves the contract or transaction; and
(b) the nature and extent of the director's or officer's interest in the contract or transaction are disclosed in reasonable detail to the Minister. O. Reg. 210/11, s. 5 (3).