The Canada Development Investment Corporation (CDEV; ) 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 King-in-Council.[1]
History
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.[2]
Owned in full by the Crown and managed by a Toronto-based board of directors,[3] CDEV is accountable to the Parliament of Canada through the Minister of Finance.[2] Any changes in corporate structure or purchases of new assets must be directed by the