77Derivatives

77 Derivatives

(1) The Corporation may acquire a derivative for the purpose of: (a) protecting the value of an investment of the Corporation (other than a derivative); or (b) protecting the return on an investment of the Corporation (other than a derivative); or (c) achieving indirect exposure to one or more equity interests for a purpose in connection with the Corporation’s investment functions; or (d) achieving transactional efficiency for a purpose in connection with the Corporation’s investment functions; but must not acquire a derivative for the purpose of: (e) speculation; or (f) leverage. (2) The acquisition of a derivative under subsection (1) must be consistent with the investment strategy embodied in a policy formulated by the Board under subsection 75(1).