(1) The following provisions apply, with necessary modifications, to a subsidiary corporation that is a Crown agent and that is established under section 32 or acquired under section 33:
1. Subsections 8 (2), (3), (4) and (5).
2. Subsections 13 (1) and (2).
3. Sections 15, 16, 17, 19, 21, 22, 23, 26 and 27. 2011, c. 9, Sched. 32, s. 34 (1).
Payment of judgment against subsidiary corporation
(2) The Corporation shall pay the amount of any judgment against a subsidiary corporation mentioned in subsection (1) that remains unpaid after the subsidiary corporation has made reasonable efforts, including liquidating assets, to pay the amount of the judgment. 2011, c. 9, Sched. 32, s. 34 (2).
Same
(3) The Minister of Finance shall pay from the Consolidated Revenue Fund the amount of any judgment against a subsidiary corporation mentioned in subsection (1) that remains unpaid after,
(a) the subsidiary corporation has made reasonable efforts, including liquidating assets, to pay the amount of the judgment; and
(b) the Corporation has made reasonable efforts, including liquidating assets, to pay the amount of the judgment that remains unpaid after the subsidiary corporation has made the efforts described in clause (a). 2011, c. 9, Sched. 32, s. 34 (3).
Regulations
(4) The Lieutenant Governor in Council may make regulations providing that a subsidiary corporation mentioned in subsection (1) may declare in writing in an agreement, security or instrument that it is not acting as a Crown agent for the purposes of the agreement, security or instrument. 2011, c. 9, Sched. 32, s. 34 (4).