4. The Fund shall be a mandatary of the State.
The property belonging to the Fund shall be the property of the State, but the performance of the obligations of the Fund may be levied against such property. The Fund may bind itself in any way whatsoever, in particular by borrowing, using the property as security or encumbering it as though it were not the property of the State.
The Fund binds only itself when it acts in its own name. It acts with full independence in accordance with this Act.
The Fund’s wholly-owned subsidiaries are mandataries of the State and the provisions of this section are applicable to them.
In this Act, “wholly-owned subsidiary” means a legal person all of whose common shares are held directly or indirectly by the Fund.
1965 (1st sess.), c. 23, s. 4; 1970, c. 18, s. 1; 1992, c. 22, s. 1; 1999, c. 40, s. 42; 2004, c. 33, s. 2; 2015, c. 17, s. 1.