R.S.M. 1987, c. C155
The Communities Economic Development Fund 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. |