Appointment of the Municipal Capital Borrowing Board, regulations
2(1)The Lieutenant-Governor in Council may appoint a Municipal Capital Borrowing Board, consisting of not fewer than three nor more than six members, one of whom shall be designated as chairman, one as vice-chairman and another as secretary.
2(2)Repealed: 1983, c.54, s.2
2(3)The Lieutenant-Governor in Council may make regulations
(a)
Repealed: 1983, c.54, s.2
(b)
prescribing the duties of the Secretary of the Board;
(b.1)
respecting the circumstances, terms or conditions under which a municipality which enters into a leasing, lease-purchase or purchase arrangement shall be deemed to be borrowing money for capital expenses; and
(c)
for the necessary and efficient enforcement of the Act.
1963 (2nd Sess.), c.8, s.2; 1969, c.57, s.1; 1978, c.40, s.1; 1983, c.54, s.2