Powers of corporation
5(1)Subject to subsection (2), the Corporation may
(a)
make any grant, contribution or loan or issue any loan guarantee that has been approved by the Lieutenant-Governor in Council;
(b)
make any grant, contribution or loan or issue any loan guarantee conducive to the attainment of the objects and purposes of the Corporation that is made or issued in connection with the administration or management of an agreement, program or project assigned by the Lieutenant-Governor in Council;
(b.1)
in accordance with the regulations, charge a fee for the issuance of a loan guarantee referred to in paragraph (a) or (b) subject to such terms and conditions as the Corporation may, in its discretion, impose, or adjust, defer, reduce or waive such a fee or vary such terms and conditions;
(c)
in connection with the administration or management of an agreement, program or project assigned by the Lieutenant-Governor in Council, transfer funds as the Corporation considers necessary to any department, corporation or agency of the Government of the Province for uses within the authority of that department, corporation or agency;
(d)
subject to the approval of the Lieutenant-Governor in Council, buy, hold, sell, lease or otherwise dispose of real property;
(e)
manage and control its bank accounts and other necessary banking operations;
(f)
subject to the approval of the Lieutenant-Governor in Council, borrow money as the Corporation considers necessary;
(g)
promote training programs to qualify persons for new employment opportunities;
(h)
assist workers unable to obtain suitable employment in one area of the Province to relocate in another area where work is available;
(i)
conduct information and education programs to enlist the support and participation of various groups in any area under development; and
(j)
take any other action conducive to the attainment of the objects and purposes of the Corporation.
5(2)The Corporation shall not enter into an agreement unless it
(a)
is necessary for the routine management and operation of the Corporation,
(b)
is in respect of a matter set out in paragraphs (1)(a) to (i), or
(c)
has been approved by the Lieutenant-Governor in Council.
1965, c.2, s.5; 1969, c.24, s.2; 1984, c.44, s.13; 1987, c.13, s.5; 1998, c.14, s.3; 2000, c.51, s.4