R.S.1973, c.C-11, s.1; 1987, c.13, s.2; 2000, c.51, s.2
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”.
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.
The change of 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.
The Lieutenant-Governor in Council may appoint persons, not fewer than five in number, to be directors of the Corporation. R.S.1973, c.C-11, s.2; 1974, c.5 (Supp.), s.1
R.S.1973, c.C-11, s.3; 1998, c.14, s.1; 2012, c.39, s.133
The 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.
If an employee, as defined in the Civil Service Act, is appointed as President, he or she shall not receive any additional salary or expenses.
The Corporation has the same general capacities as a corporation has under the Corporations Act. R.S.1973, c.C-11, s.4; 1987, c.13, s.3
The objects and purposes of the Corporation are 1987, c.13, s.4; 1998, c.14, s.2; 2000, c.51, s.3; 2005, c.7, s.73; 2017, c.20, s.157; 2021, c.44, s.51
(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 local governments and regional service commissions in planning and developing works or projects of benefit to the general public, and
(e) Repealed: 2021, c.44, s.51
(f) Repealed: 2021, c.44, s.51
(g) to carry out any duties assigned by the Lieutenant-Governor in Council.
R.S.1973, c.C-11, s.5; 1984, c.44, s.13; 1987, c.13, s.5; 1998, c.14, s.3; 2000, c.51, s.4
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;
(d) 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 a department, corporation or agency of the Government of the Province for uses within the authority of that department, corporation or agency;
(e) subject to the approval of the Lieutenant-Governor in Council, buy, hold, sell, lease or otherwise dispose of real property;
(f) manage and control its bank accounts and other necessary banking operations;
(g) subject to the approval of the Lieutenant-Governor in Council, borrow money as the Corporation considers necessary;
(h) promote training programs to qualify persons for new employment opportunities;
(i) assist workers unable to obtain suitable employment in one area of the Province to relocate in another area where work is available;
(j) conduct information and education programs to enlist the support and participation of various groups in an area under development; and
(k) take any other action conducive to the attainment of the objects and purposes of the Corporation.
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 (j), or
(c) has been approved by the Lieutenant-Governor in Council.
R.S.1973, c.C-11, s.6; 1987, c.13, s.6; 1990, c.61, s.121
A person who violates or fails to comply with the regulations commits an offence punishable under Part 2 of the Provincial Offences Procedure Act as a category B offence.
The conviction of a person under subsection (1) does not operate as a bar to further prosecution for the continued neglect or failure on that person’s part to comply with a provision of the regulations.
The Minister of Finance and Treasury Board shall pay annually to the Corporation those amounts that are placed in the Consolidated Fund to the credit of the Corporation. R.S.1973, c.C-11, s.7; 2019, c.29, s.138
The 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 to the Lieutenant-Governor in Council. R.S.1973, c.C-11, s.8; 1982, c.3, s.8
The Corporation, through the member of the Executive Council responsible for the Corporation, shall render an annual report to the Legislative Assembly. R.S.1973, c.C-11, s.9; 1998, c.14, s.4
R.S.1973, c.C-11, s.10; 1987, c.13, s.7, s.8; 1998, c.14, s.5
The Lieutenant-Governor in Council may do the following:
(a) approve regulations recommended by the Corporation;
(b) assign the administration and management of agreements, programs or projects, or other duties, to the Corporation subject to the conditions that the Lieutenant-Governor in Council considers fit to impose;
(c) approve agreements conducive to the attainment of any of the objects and purposes of the Corporation; and
(d) 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 6(1)(c),
(ii) for the better administration of this Act.
Regulations made under subparagraph (1)(d)(i) may be retroactive in their operation to September 1, 1996, or any date after September 1, 1996.