39. In no case may the Corporation, without the authorization of the Government, acquire or hold over 50% of the shares of another corporation or a sufficient percentage of them to elect the majority of the directors of the other corporation.
In no case where the Corporation acquires or holds either described percentage of the shares of another corporation may that other corporation itself, without the authorization of the Government, acquire or hold either such percentage of the shares of a third corporation.
The second paragraph does not apply to a corporation in which the Corporation holds shares on 26 April 1983.
R. S. 1964, c. 86, s. 40; 1978, c. 41, s. 1; 1983, c. 15, s. 22.