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This enactment amends the Farm Credit Corporation Act by
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(a) changing the name of the Corporation to Farm Credit Canada and
making consequential amendments to other Acts and to regulations;
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(b) providing that the primary focus of the Corporation is on farming
operations, including family farms;
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(c) authorizing the Corporation to provide business services, as well
as financial services, and to provide loans and guarantees to
businesses related to farming, as well as to farming operations,
including family farms;
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(d) extending the Corporation's capabilities in the provision of
financial services by means of the incorporation of subsidiaries,
lease financing and equity financing, either directly or through
arrangements with other persons or bodies;
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(e) authorizing the Corporation to enter into agreements for the
management of financial risk and to pledge securities or cash or give
deposits as security for the performance of its obligations under
those agreements; and
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(f) making improvements in corporate governance by designating
the President of the Corporation as its chief executive officer and by
providing for the appointment of an acting Chairperson and an
acting President.
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