Thank you for the question, Madam Chair.
VIA is a non-agent crown corporation. There are 47 crown corporations in the Government of Canada, and there are three non-agent crown corporations that do not have enabling legislation. They are Marine Atlantic, Ridley Terminals in B.C., and VIA Rail Canada. It is the most important crown corporation without enabling legislation. As I said, it is a non-agent crown corporation: it does not bind the crown.
It was created in 1977 as a CBCA company, so it is a commercial entity with all the powers of a normal company, except that it is subject to the Financial Administration Act of Canada, and that's where the appropriations come from. Therefore, its normal powers of a company to borrow money, to pledge assets, to create equity vehicles for a special purpose don't exist.