R.S.M. 1987, c. C155

The Communities Economic Development Fund Act

Back to the Act

Table of Contents

1		Definitions.
2		Continuation of fund.
3		Objects.
4		Assistance from public and Government of Canada.
	(2)	Approval of conditions.
5		Board.
6		Chairman.
	(2)	Remuneration to directors.
7		Powers.
8		Forms of loans.
9		Where loan obtainable elsewhere.
	(2)	Encouragement of assistance from other institutions.
	(3)	General considerations in making loans.
	(4)	Fixing of rates of interest.
	(5)	Repayment of loans.
	(6)	Diversity.
	(7)	Compliance with Act.
	(8)	Reports as to borrowers, etc.
	(9)	Technical and professional assistance.
	(10)	Information by applicants.
10		Supervision of expenditure of loans.
	(2)	Record of supervision.
	(3)	Where money misapplied.
	(4)	Audit of affairs of borrower.
11		Sale of mortgaged security.
12		Reports as to condition of securities.
13		Advances to protect security.
14		Acting chairman.
15		Board to supervise fund.
	(2)	Limitation of loans.
	(3)	Appointment of directors of corporate borrowers.
	(4)	Appointment under subsec. (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		Duties of chairman.
	(2)	Exercise of powers by chairman.
17		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		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		Chairman's report.
	(2)	Further reports.
	(3)	Certain publications in Gazette.
	(4)	Special reports.
23		Production of information for assembly.
	(2)	Production on most recent audited statement.
24		Regulations.
	(2)	Publication, etc.
25		Application of Securities Act.
26		Application of other Acts.
	(2)	General capacity.
	(3)	Taking security.
	(4)	Exercise of rights, etc.
	(5)	Acts to prevail.
27		Penalty.
28		Limitation on liability.
	(2)	Fund's director of corporate borrower.
29		Moneys required by fund.