R.S.M. 1987, c. D60
The Development Corporation Act
Table of Contents
1 | Definitions. | |
PART I
OPERATION OF CORPORATION |
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2 | Continuance of fund. | |
3 | Objects. | |
4 | Assistance from public and Govt, of Canada. | |
(2) | Approval of conditions. | |
5 | Powers. | |
6 | Forms of loans. | |
7 | Encouragement of assistance from other institutions. | |
(2) | General considerations in making loans. | |
(3) | Board may fix rates of interest. | |
(4) | Limitation on interest rate. | |
(5) | Restrictions on community development corporations. | |
(6) | Repayment of loans. | |
(7) | Diversity. | |
(8) | Compliance with Act. | |
(9) | Reports as to borrowers, etc. | |
(10) | Information to be furnished by applicants. | |
8 | Supervision of expenditure of loans. | |
(2) | Record of supervision. | |
(3) | Where money misapplied. | |
9 | Sale of mortgaged security. | |
10 | Reports as to condition of securities. | |
11 | Advances to protect security. | |
12 | Persons comprising the organization. | |
(2) | Persons ineligible for appointment. | |
(3) | Term of office. | |
(4) | Filling of vacancies. | |
(5) | Re-appointment of directors. | |
13 | Appointment of chairman and general manager. | |
(2) | Assistant general manager. | |
(3) | Chairman to preside at meetings. | |
(4) | General manager as chairman. | |
(5) | Assistant general manager as chairman. | |
(6) | Assistant general manager as acting chairman. | |
(7) | Payment of expenses and remuneration. | |
14 | Board to administer corporation. | |
(2) | Approval of by-laws by L. G. in C. | |
(3) | Limitation of loans. | |
(4) | Appointment of directors of corporate borrowers. | |
(5) | Appointment under subsec. (4) does not create significant interest. | |
(6) | Limitation on actions of directors where financial interest involved. | |
(7) | Decision as to interest. | |
(8) | Disclosure of facts by directors. | |
(9) | Offence and penalty. | |
15 | Loan committee. | |
(2) | Powers of loan committee. | |
(3) | Assistance and advice. | |
(4) | Assistance of government employees. | |
(5) | Meetings of loan committee. | |
(6) | Chairman to preside at meetings. | |
(7) | Quorum. | |
16 | Duties of chairman. | |
(2) | Exercise of powers by chairman. | |
17 | Capital of corporation. | |
(2) | Purchase of shares by the government | |
(3) | Issue of shares to minister. | |
(4) | Registration of shares. | |
(5) | Directors* shares. | |
(6) | Re-transfer of directors* shares. | |
(7) | Appointment of proxies. | |
(8) | Shares in companies. | |
(9) | Qualifying shares in companies. | |
(10) | Transfer of qualifying shares in companies. | |
(11) | Transfer of shares in subsidiary company. | |
18 | Temporary borrowings. | |
19 | Advances from Cons. Fund. | |
20 | Loans by govt. | |
(2) | Interest on loans. | |
21 | Power to borrow. | |
(2) | Limitation on borrowing powers. | |
(3) | Reissue of pledged securities. | |
(4) | Form of securities. | |
(5) | Signature of chairman on securities. | |
(6) | Proof that securities are necessary. | |
22 | Power of govt, to guarantee. | |
(2) | Signing of guarantees. | |
(3) | Discharge of liability under guarantee. | |
(4) | Signature of Min. of Fin., etc. | |
23 | Foreign currency. | |
24 | Repayment of advance. | |
25 | Payment of administrative costs. | |
(2) | Repayment of loans. | |
(3) | Reserves. | |
(4) | Dividends. | |
(5) | Investment of reserves. | |
(6) | Disposal of reserves. | |
(7) | Deficiency in revenues. | |
26 | Fiscal year. | |
27 | Audit. | |
28 | Acquisition of property. | |
(2) | Corporation agent of Crown. | |
(3) | Disposal of property. | |
(4) | Where approval of L. G. in C. not required. | |
(5) | Acceptance of certificate by district registrar. | |
29 | Annual report. | |
(2) | Further reports. | |
(3) | Special reports. | |
(4) | M.L.A. as member of committee. | |
30 | Meetings not required. | |
31 | Secrecy of records. | |
(2) | Information for legislative committees. | |
(3) | Disclosure by chairman. | |
32 | Regulations. | |
(2) | Presentation to Assembly. | |
33 | Powers of corporation. | |
34 | Employees not civil servants. | |
35 | General liabilities. | |
36 | Application of Securities Act. | |
37 | Application of other Acts. | |
(2) | General capacity. | |
(3) | Taking security. | |
(4) | Exercise of rights, etc. | |
(5) | Conflict with Corporations Act. | |
38 | Penalty. | |
39 | Limitation on liability. | |
(2) | Corporation's director of corporate borrower. | |
(3) | Effect of change of name. | |
PART II
OPERATIONS REQUIRING APPROVAL OF LIEUTENANT GOVERNOR IN COUNCIL |
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40 | Development of industrial enterprises. | |
41 | Agent of Crown on special projects. | |
42 | Finance and accounting. | |
43 | Powers under Part II. | |
44 | Annual report. | |
PART III
GENERAL |
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45 | Loans to M.L.A.'s prohibited. |