Acts and Regulations

R-5.01 - Regional Development Corporation Act

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Repealed on 1 September 2011
CHAPTER R-5.01
Regional Development Corporation Act
1987, c.13, s.1; 2000, c.51, s.1
Repealed: R.S.N.B. 2011, Schedule A
Establishment of Corporation and change of English name
1(1)The body corporate constituted under the English name Community Improvement Corporation and under the French name Société d’aménagement régional is continued as a body corporate under the English name Regional Development Corporation and under the French name Société de développement régional, and is referred to in this Act as the “Corporation”.
Rights and obligations not affected by change of English name
1(2)The change of the English name of the Corporation does not affect the rights and obligations of the Corporation and all proceedings that might have been continued or commenced by or against the Corporation under its former name may be continued or commenced by or against the Corporation under its new name.
Rights and obligations not affected by change of French name
1(3)The change in the French name of the Corporation does not affect the rights and obligations of the Corporation and all proceedings that might have been continued or commenced by or against the Corporation under its former name may be continued or commenced by or against the Corporation under its new name.
1965, c.2, s.1; 1987, c.13, s.2; 2000, c.51, s.2
Directors of corporation
2The Lieutenant-Governor in Council may appoint persons, not fewer than five in number, to be directors of the Corporation.
1965, c.2, s.2; 1966, c.53, s.2; 1967, c.38, s.2; 1974, c.5(Supp.), s.1
President of Corporation
3The Lieutenant-Governor in Council may appoint a President of the Corporation who shall be paid a salary and expenses out of money of the Corporation as fixed by the Lieutenant-Governor in Council.
1965, c.2, s.3; 1998, c.14, s.1
General capacities of corporation
4(1)The Corporation has the same general capacities as a corporation has under the Corporations Act.
4(2)Repealed: 1987, c.13, s.3
1965, c.2, s.4; 1969, c.24, s.1; 1987, c.13, s.3
Objects and purposes of Corporation
4.1The objects and purposes of the Corporation are
(a) to administer and manage development agreements between the Government of the Province and the Government of Canada as assigned by the Lieutenant-Governor in Council;
(b) to assist in the establishment and development of enterprises and institutions operated by corporations, trusts, partnerships, societies and individuals;
(c) to assist in the establishment and development of facilities relating to tourism and recreation;
(d) to assist municipalities and rural communities in planning and developing works or projects of benefit to the general public;
(e) to prepare plans for regional development;
(f) to coordinate and guide regional development; and
(g) to carry out any duties assigned by the Lieutenant-Governor in Council.
1987, c.13, s.4; 1998, c.14, s.2; 2000, c.51, s.3; 2005, c.7, s.73
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
Repealed
6(1)Repealed: 1987, c.13, s.6
Offences and penalties
6(2)A person who violates or fails to comply with the regulations commits an offence punishable under Part II of the Provincial Offences Procedure Act as a category B offence.
Continuing offences
6(3)The conviction of a person under subsection (2) does not operate as a bar to further prosecution for the continued neglect or failure on his part to comply with a provision of the regulations.
1969, c.24, s.3; 1987, c.13, s.6; 1990, c.61, s.121
Financing of corporation
7The Minister of Finance shall pay annually to the Corporation such amounts as are placed in the Consolidated Fund to the credit of the Corporation.
1965, c.2, s.6; O.C.68-516
Audit of corporation
8The accounts and financial transactions of the Corporation shall be audited annually by the Auditor General and a report of the audit made to the Corporation and the Lieutenant-Governor in Council.
1965, c.2, s.7; 1982, c.3, s.8
Annual report of corporation
9The Corporation, through the member of the Executive Council responsible for the Corporation, shall render an annual report to the Legislative Assembly.
1965, c.2, s.8; 1971, c.18, s.1; 1998, c.14, s.4
Powers of Lieutenant-Governor in Council
10(1)The Lieutenant-Governor in Council
(a) Repealed: 1987, c.13, s.7
(b) may approve regulations recommended by the Corporation;
(b.1) may assign the administration and management of agreements, programs or projects, or other duties, to the Corporation subject to such conditions as the Lieutenant-Governor in Council sees fit to impose;
(c) may approve agreements conducive to the attainment of any of the objects and purposes of the Corporation; and
(d) may make regulations
(i) respecting fees charged by the Corporation, the adjustment, deferral, reduction or waiver of fees charged by the Corporation, or the variation of terms and conditions imposed by the Corporation, under paragraph 5(1)(b.1);
(ii) for the better administration of this Act.
10(2)Regulations made under subparagraph (1)(d)(i) may be retroactive in their operation to September 1, 1996, or any date after September 1, 1996.
1965, c.2, s.9; 1987, c.13, s.7, 8; 1998, c.14, s.5
N.B. This Act is consolidated to September 1, 2011.