Fourth Session, Thirty-Ninth Legislature
This version is based on the printed bill that was distributed in the Legislature after First Reading. It is not the official version. If accuracy is critical, you can obtain a copy of the printed bill from Statutory Publications or view the online bilingual version (PDF).
THE COMMUNITIES ECONOMIC DEVELOPMENT FUND AMENDMENT ACT
(Assented to )
HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:
Subsection 1(1) is amended
(a) by repealing the definition "general manager and chief executive officer"; and
(b) by adding the following definitions:
"chief executive officer" means the person appointed as the chief executive officer under subsection 16(1); (« premier dirigeant »)
"northern Manitoba" means all that part of Manitoba north of the southern boundary of Township 21; (« Nord du Manitoba »)
Section 3 is replaced with the following:
The objects of the fund are to encourage the economic development of
(a) northern Manitoba;
(b) aboriginal people in the province outside of the City of Winnipeg; and
(c) the fishing industry in Manitoba.
In carrying out its objects, the fund is to
(a) give emphasis to the needs of small business, community development corporations and corporations without share capital; and
The following is added after subsection 6(1):
The board may designate one of the members as acting chairperson to act in the place of the chairperson when
(a) the office of chairperson is vacant;
(b) the chairperson is absent or unavailable for any reason; or
The following is added after section 6:
For the purpose of achieving its objects, the fund may
(a) provide financial assistance to persons or economic enterprises;
(b) provide information, advice and training respecting the administration and operation of economic enterprises; and
(c) promote good management practices in economic enterprises.
Subject to this Act and the regulations, the fund may
(a) enter into an agreement with a person or economic enterprise or the Government of Manitoba, the Government of Canada, a local government or an agency of any of them;
(b) accept a gift, grant, loan or other form of contribution to the fund that is made with or without conditions;
(c) receive and manage funds on behalf of another; and
Subsection 7(1) is amended
(a) in clause (a), by striking out "a program" and substituting "one or more programs"; and
Subsection 8(2) is replaced with the following:
Before providing financial assistance, the board may require an applicant to provide it with any information that the board considers necessary for determining whether to provide financial assistance.
Section 9 is replaced with the following:
The board may by resolution fix or vary rates of interest payable on loans or other financial assistance.
Section 24 is amended
(a) by repealing clause (1)(a); and
Subsection 28(1) is replaced with the following:
No action or proceeding may be brought against the chief executive officer, a director, an officer or employee of the fund or any other person acting under the authority of this Act for anything done or omitted to be done, in good faith, in the exercise or intended exercise of a power or duty under this Act.
This Act comes into force on the day it receives royal assent.