8(1)Subject to subsection (2), a local government may, for a municipal purpose, establish a corporation or acquire or hold securities of a corporation for any one or more of the following purposes:
(a)
the provision of a service;
(b)
the operation of a utility;
(c)
the undertaking of economic development activities under section 104; and
(d)
the management of properties of the local government.
8(2)A local government shall not establish a corporation that operates for the purpose of making a profit or acquire or hold securities of a corporation that operates for that purpose.
8(1)Subject to subsection (2), a local government may, for a municipal purpose, establish a corporation or acquire or hold securities of a corporation for any one or more of the following purposes:
(a)
the provision of a service;
(b)
the operation of a utility;
(c)
the undertaking of economic development activities under section 104; and
(d)
the management of properties of the local government.
8(2)A local government shall not establish a corporation that operates for the purpose of making a profit or acquire or hold securities of a corporation that operates for that purpose.