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Bill C-108

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42-43-44 ELIZABETH II

CHAPTER 47

An Act to amend the National Housing Act

[Assented to 15th December, 1995]

R.S., c. N-11; R.S., c. 8 (1st Supp.), c.20 (2nd Supp.), c. 18 (3rd Supp.), c. 25 (4th Supp.); 1991, c. 47; 1992, cc. 1, 32; 1994, c. 35

      Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:

1992, c. 32, s. 25

1. Section 21 of the National Housing Act is replaced by the following:

Aggregate maximum

21. Notwithstanding anything in this Act, the aggregate outstanding amount of all insured loans may not exceed the sum of

    (a) one hundred and fifty billion dollars, and

    (b) any additional amounts authorized by Parliament for the purposes of this section under an appropriation Act or any other Act of Parliament.

Application

2. This Act applies in respect of the 1994 calendar year and each subsequent calendar year.