80Responsibilities of designated subsidiaries

80 Responsibilities of designated subsidiaries

A designated subsidiary of the Corporation must: (a) only provide financial accommodation to a constitutional corporation if the financial accommodation could have been provided by the Corporation; and (b) only provide financial accommodation to an entity (other than a constitutional corporation, a State or a Territory) or an individual if the financial accommodation could have been provided by the Corporation; and (c) only acquire an equity interest if the interest could have been acquired by the Corporation; and (d) only provide financial accommodation to a State or Territory if the financial accommodation could have been provided by the Corporation; and (e) take all reasonable steps to comply with the Investment Mandate, to the extent to which the Investment Mandate is capable of applying to the activities of the subsidiary; and (f) comply with policies formulated by the Board under section 75, to the extent to which the policies are capable of applying to the activities of the subsidiary; and (g) only acquire derivatives for a purpose for which the Corporation may do so under section 77.