O.C. 245/2018

July 9, 2018


            The Lieutenant Governor in Council

 

1          subject to sections 2 and 3, authorizes the President of Treasury Board, Minister of Finance, on behalf of the Crown, to make advances to and purchase securities from Agriculture Financial Services Corporation;

 

2          authorizes Agriculture Financial Services Corporation to borrow money to achieve the purposes of the Agriculture Financial Services Act and orders that the aggregate principal amount of borrowings by Agriculture Financial Services Corporation at any time shall not exceed $2 600 000 000;

 

3          orders that the aggregate principal amount of advances made to and securities purchased from Agriculture Financial Services Corporation by the President of Treasury Board, Minister of Finance, under this or any other Order at any time shall not exceed $2 600 000 000;

 

4          subject to sections 5 and 6, authorizes the President of Treasury Board, Minister of Finance, on behalf of the Crown, to raise money by the issue and sale from time to time of notes, bonds, debentures or interest-bearing or non-interest-bearing treasury bills issued by the Crown or any other securities under which the Crown is the debtor (collectively referred to hereafter as "Government securities") for the purpose of making advances to or purchasing securities from Agriculture Financial Services Corporation as authorized by section l;

 

5          orders that the aggregate principal amount of Government securities that may be outstanding under this Order at any time shall not exceed $2 600 000 000;

 

6          orders that the term to maturity of any advances made to, or securities issued or borrowings by, Agriculture Financial Services Corporation or Government securities issued under this Order shall not exceed 20 years;

 

7          orders that any Government securities issued or advances made under this Order shall include such terms and conditions as are approved from time to time by the President of Treasury Board, Minister of Finance;

 

8          rescinds Orders in Council numbered O.C. 55/2011 and O.C. 255/2012.

 

 

For Information only

 

Recommended by:          President of Treasury Board, Minister of Finance

Authority:                             Financial Administration Act (sections 58 and 81)
                                                Agriculture Financial Services Act (sections 18 and 19)