Bretton Woods and Related Agreements Act

Marginal note:Loans — trust or body

• 8.1 (1) The Minister of Finance may lend to the International Monetary Fund, at any rate of interest and on any other terms and conditions that the Governor in Council may approve, any sum or sums of money that may be required for funding any trust or body established by the Fund to assist in fulfilling the purposes of the Fund, at no time exceeding one billion Special Drawing Rights, or any other amount that may be fixed by the Governor in Council.

• Marginal note:Loans — purpose of Fund

  (1.1) The Minister of Finance may lend to the International Monetary Fund, at any rate of interest and on any other terms and conditions that the Governor in Council may approve, any sum or sums of money that may be required to assist the Fund in fulfilling the purpose of safeguarding global economic and financial stability, at no time exceeding 13 billion Special Drawing Rights, or any other amount that may be fixed by the Governor in Council.

• Marginal note:Grants

  (2) The Minister of Finance may grant to the International Monetary Fund, on such terms and conditions as the Governor in Council may approve, such sum or sums of money as may be required for funding any trust or body established by the Fund to assist in fulfilling the purposes of the Fund, not exceeding in the whole two hundred and fifty million dollars, or such greater amount as may be fixed by the Governor in Council.

• Marginal note:Payment out of C.R.F.

  (3) The Minister of Finance may make payments out of the Consolidated Revenue Fund for the purposes mentioned in subsections (1), (1.1) and (2).

• Marginal note:Reassignment of resources

  (4) The Minister of Finance may direct the reassignment of funds subscribed or contributed by Canada to the International Monetary Fund, or owed to Canada by the Fund, for a similar purpose within the Fund, subject to any terms and conditions that the Minister considers appropriate.