(1) A by-law of the Corporation with respect to borrowing, investing or managing financial risks does not take effect until it is approved by the Minister and the Minister of Finance. 2011, c. 9, Sched. 32, s. 13 (1).
By-laws re borrowing, contents
(2) A by-law with respect to borrowing by the Corporation shall not be approved unless the by-law includes the following information:
1. The maximum principal amount of borrowing that may be outstanding at any time under the authority of the by-law.
2. The period, not to exceed five years, during which the Corporation may borrow under the authority of the by-law.
3. The date after which no debts are permitted to remain unpaid under the authority of the by-law.
4. Such other terms and conditions as the Minister of Finance may specify. 2011, c. 9, Sched. 32, s. 13 (2).