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The Communities Economic Development Fund Act

C.C.S.M. c. C155

The Communities Economic Development Fund Act

1 (1) Definitions
(2) Registered common-law relationship
2 Continuation of fund
3 (1) Objects
(2) Focus of the fund
4 Repealed
5 Board
6 (1) Chairperson
(1.1) Board may designate acting chairperson
(2) Remuneration to directors
6.1 (1) Activities of the fund
(2) General powers of fund
7 (1) Power to provide financial assistance
(2) Power respecting corporation
(3) Fund may acquire personal property
(4) Acquisition and lease of property
(5) Fund may establish corporations
8 (1) Forms of financial assistance
(2) Reports and information etc.
(3) Terms and conditions must be considered
9 (1) Interest rates
(2) Professional and expert assistance
10 (1) Supervision of financial assistance
(2) Record of supervision of financial assistance
(3) Powers of board where money misapplied
(4) Audit of affairs of borrower
11 Sale of mortgaged security
12 Fund to obtain progress reports
13 Advances to protect security
14 Repealed
15 (1) Board to supervise fund
(1.1) Disallowance of by-law by minister
(2) Limit respecting financial assistance
(3) Appointment of directors of corporate borrowers
(4) Appointment under subsection (3) does not create significant interest
(5) Limitation on actions of directors where financial interest involved
(6) Decision as to interest
(7) Disclosure of facts by directors
(8) Offence and penalty
16 (1) Appointment of chief executive officer
(2) Duties of chief executive officer
17 (1) Shares in companies
(2) Qualifying shares in companies
(3) Transfer of qualifying shares in companies
(4) Transfer of shares in subsidiary company
18 Fiscal year
19 Audit
20 Fund an agency of Crown
21 (1) Acquisition of property
(2) Disposal of property
(3) Where approval of Lieutenant Governor in Council not required
(4) Acceptance of certificate by district registrar
22 (1) Annual reports
(2) Further reports
(3) Quarterly financial statements
(3.1) Tabling of statements in the Assembly
(3.2) Available to public
(4) Special reports respecting loan
23 (1) Production of information for assembly
(2) Production on most recent audited statement
24 (1) Regulations
(2) Repealed
25 Application of Securities Act
26 (1) Application of other Acts
(2) General capacity
(3) Taking security
(4) Exercise of rights, etc.
(5) Acts to prevail
(6) Repealed
27 Penalty
28 (1) Protection from liability
(2) Fund's director of corporate borrower
29 Moneys required by fund