Acts and Regulations

S-12.12 - Sport Development Trust Fund Act

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Repealed on 1 September 2011
CHAPTER S-12.12
Sport Development Trust Fund Act
Assented to April 27, 1990
Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:
Repealed: R.S.N.B. 2011, Schedule A
Definition
1In this Act
“sport” means an activity with a significant physical component involving formal rules or procedures in which two or more persons engage for the purpose of competitively evaluating their personal performances.(sport)
Establishment and administration of Sport Development Trust Fund
2(1)There is hereby established a fund to be known as the Sport Development Trust Fund.
2(2)Payments into the Sport Development Trust Fund shall be made in accordance with the Gaming Control Act.
2(3)The Minister of Finance shall be the custodian of the Sport Development Trust Fund and the Sport Development Trust Fund shall be held in trust by the Minister of Finance.
2(4)Payments for the purposes of section 3 shall be a charge upon and payable out of the Sport Development Trust Fund.
2(5)All interest arising from the Sport Development Trust Fund shall be paid into and form part of the Sport Development Trust Fund.
2(6)The Minister of Finance may invest the money in the Sport Development Trust Fund in the manner authorized by the Trustees Act and may invest in securities issued pursuant to the Provincial Loans Act.
1993, c.1, s.3; 2003, c.E-4.6, s.178; 2008, c.G-1.5, s.89
Use of assets of Fund
3The assets of the Sport Development Trust Fund shall be used to provide grants to individual athletes and sport organizations to promote leadership and excellence in sport.
Minister may provide grants
4For the purpose of section 3, the Minister of Wellness, Culture and Sport may, after consultation with provincial sport organizations recognized as such by the Minister of Wellness, Culture and Sport, provide grants to individual athletes and sport organizations.
1992, c.2, s.56; 1998, c.41, s.104; 2000, c.26, s.268; 2007, c.10, s.88
Certification of grants
5(1)The Minister of Wellness, Culture and Sport shall certify to the Minister of Finance the amount of the grants provided under section 4.
5(2)Where the Minister of Wellness, Culture and Sport certifies the amounts of the grants provided, the Minister of Finance may rely on the amounts so certified.
1992, c.2, s.56; 1998, c.41, s.104; 2000, c.26, s.268; 2007, c.10, s.88
N.B. This Act is consolidated to September 1, 2011.