28. The Government may, on the conditions it determines, entrust the administration of this division to a public agency it designates. For that purpose, the designated agency exercises, on behalf of the Minister, the powers conferred on him under subparagraphs 1, 2 and 3 of the second paragraph of section 27, and under the third and fourth paragraphs of that section.
Notwithstanding any contrary provision in the constituent act of the designated agency, it may, for the purposes of this division and with the prior approval of the Government, raise loans by way of promissory notes, bonds or other securities, on the terms and conditions determined by the Government.
For the purposes of this division, “public agency” means an agency to which the Government or a minister, appoints the majority of the members, to which, by law, the staff is appointed and remunerated in accordance with the Public Service Act (chapter F-3.1.1), or over one-half of whose capital stock is derived from the consolidated revenue fund.
1979, c. 66, s. 2; 1983, c. 55, s. 161.