42. The exemption provided for in paragraph 2 of section 41 presupposes the existence of one of the following conditions:
(1) the person concerned has the power to levy a tax on landed property located in a Canadian province or territory;
(2) the person concerned may issue debt only under the supervision of a department or public body established pursuant to an Act of Canada or of a Canadian province or territory;
(3) the National Assembly votes annual appropriations for repayment of the debt and payment of interest.