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What is Canada Development Investment Corporation mean?
The Canada Development Investment Corporation (CDEV; French: Corporation de développement des investissements du Canada) is a Canadian Crown corporation responsible for managing investments and corporate interests held by the Government of Canada, including making purchases and sales of assets on behalf of the Queen-in-Council. CDEV was incorporated under the Canada Business Corporations Act in 1982 and was initially intended to be a temporary entity, with legislation passed in 1998 directing the corporation's mandate to be focussed solely on orderly dissolution and divestment of its holdings. However, the Government of Canada announced in 2007 that CDEV would continue operations.
Owned in full by the Crown and managed by a Toronto-based board of directors, CDEV is accountable to the Parliament of Canada through the Minister of Finance. Any changes in corporate structure or purchases of new assets must be directed by the Queen-in-Council.
referencePosted on 20 Dec 2024, this text provides information on Miscellaneous in Regional related to Regional. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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