Acts and Regulations

N-11 - Nursing Homes Act

Full text
Provision of financial assistance
22(1)In this section, “financial assistance” includes
(a) making a direct loan,
(b) guaranteeing the repayment of a loan,
(c) guaranteeing a bond or debenture,
(d) acquiring shares in a corporation, and
(e) making grants and forgivable loans.
22(2)The Minister may, with the approval of the Lieutenant-Governor in Council or in accordance with the regulations, provide financial assistance to aid and encourage the establishment, operation and maintenance of nursing homes in the Province, and such financial assistance shall be in accordance with the terms and conditions specified by the Minister and the terms and conditions specified in the approval of the Lieutenant-Governor in Council.
22(3)The Minister may take such security as he considers appropriate for any financial assistance provided under this section and has authority to enforce the security in accordance with the terms thereof.
22(4)When any amount becomes legally due and payable by virtue of anything done pursuant to subsection (1) or as a result of a call of a guarantee issued thereunder, the amount is a liability of the Province and is payable out of the Consolidated Fund.