1st Session, 43rd Legislature

This HTML version is provided for ease of use and is based on the bilingual version that was distributed in the Legislature after First Reading.

Bill 300


  Bilingual version (PDF) Explanatory Note

(Assented to                                         )

WHEREAS The Winnipeg Foundation was incorporated by An Act to incorporate the Winnipeg Foundation, S.M. 1921, c. 165, and was continued by An Act respecting "The Winnipeg Foundation", S.M. 1943, c. 52, The Winnipeg Foundation Act, S.M. 1980, c. 98, The Winnipeg Foundation Act, R.S.M. 1990, c. 222, and The Winnipeg Foundation Act, S.M. 2004, c. 45;

AND WHEREAS The Winnipeg Foundation has presented a petition requesting the following amendments, and it is appropriate to grant the petition;

THEREFORE HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:

S.M. 2004, c. 45 amended

1   The Winnipeg Foundation Act is amended by this Act.

2   Subsection 5(2) is amended by striking out ", one of whom must be the mayor of The City of Winnipeg".

3   Section 22 is replaced with the following:

Annual audit

22(1)   The board must have an audit of the financial statements of the Foundation made by an independent auditor at least once in every fiscal year.

Audit information to be published on website

22(2)   The board must publish a summary of the financial statements and the auditor's opinion in respect of the financial statements on the Foundation's website as soon as reasonably practicable after the audit is completed.

Coming into force

4   This Act comes into force on the day it receives royal assent.

Explanatory Note

The Winnipeg Foundation Act is amended in two ways.

The mayor of the City of Winnipeg is no longer required to be a member of the board of directors of the Foundation.

Audit information about the Foundation's financial statements must be published on its website. Currently, information respecting the audit must be published in a newspaper and copies of the auditor's report must be provided on request.