Accountability of business improvement corporation
7(1)A business improvement corporation shall account to council
(a)
within three months after the end of the year for which the levy was imposed, and
(b)
at any other time when requested by the council,
as to the expenditure of the sums received by the corporation under this Act.
7(2)Where
(a)
a business improvement corporation ceases to exist or to carry on operations, or
(b)
a by-law designating a business improvement area is repealed
any funds of the corporation which are not required for satisfying the legal obligations of the corporation shall be transferred to the council, to be expended for purposes for which the corporation might lawfully have used them.
Accountability of business improvement corporation
7(1)A business improvement corporation shall account to council
(a)
within three months after the end of the year for which the levy was imposed, and
(b)
at any other time when requested by the council,
as to the expenditure of the sums received by the corporation under this Act.
7(2)Where
(a)
a business improvement corporation ceases to exist or to carry on operations, or
(b)
a by-law designating a business improvement area is repealed
any funds of the corporation which are not required for satisfying the legal obligations of the corporation shall be transferred to the council, to be expended for purposes for which the corporation might lawfully have used them.