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S.M. 1997, c. 39
THE LABOUR-SPONSORED VENTURE CAPITAL CORPORATIONS ACT
Table of Contents
| PART 1 | |
| INTERPRETATION | |
| 1(1) | Definitions |
| (2) | Interpretation of "related" |
| PART 2 | |
| REGISTRATION | |
| 2(1) | Register of labour-sponsored venture capital corporations |
| (2) | Inspection of register |
| 3(1) | Application for registration |
| (2) | Form of application |
| (3) | Additional materials to accompany application |
| (4) | Officer's or director's certificate |
| 4 | Conditions for registration |
| 5(1) | Suspension or revocation of registration |
| (2) | Notice of suspension |
| (3) | Removal of suspension |
| (4) | Notice of intent to revoke |
| (5) | Notice of objection |
| (6) | Publication of notice of revocation |
| PART 3 | |
| INVESTMENTS | |
| 6 | Investment policies and criteria |
| 7(1) | Investment advisory committee |
| (2) | Composition of investment advisory committee |
| (3) | Conflict of interest |
| (4) | Committee to advise board |
| (5) | Board to consider committee's advice |
| 8 | Investment restrictions |
| 9(1) | Liquid reserves |
| (2) | Assets of liquid reserves |
| 10(1) | Notice of intent to declare investment ineligible |
| (2) | Objection |
| (3) | Action of minister |
| PART 4 | |
| ADMINISTRATION | |
| 11 | Prohibition against reduction of stated capital, dissolution |
| 12(1) | Valuation of shares |
| (2) | Audited financial statements |
| (3) | Request for additional information |
| (4) | Return of additional information |
| (5) | Extension of time |
| 13(1) | Books and records |
| (2) | Location and time for retention of records |
| 14(1) | "Authorized person" defined |
| (2) | Demand for production of records |
| (3) | Audits and inspections |
| (4) | Authorized entry |
| (5) | No entry into residence without warrant |
| (6) | Application for warrant |
| 15(1) | Minister's decision final |
| (2) | Determination of issue by court |
| 16(1) | Offences and penalties |
| (2) | Liability of officer, director, etc. |
| 17 | Limitation on prosecution |
| 18(1) | L.G. in C. may make regulations |
| (2) | Minister may make regulations |
| 19 | C.C.S.M. reference |
| 20 | Coming into force |