BILL 46 An Act to Amend the New Brunswick Municipal Finance Corporation Act

BILL 46

An Act to Amend the New Brunswick Municipal Finance Corporation Act

Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:

1 Section 1 of the New Brunswick Municipal Finance Corporation Act, chapter N-6.2 of the Acts of New Brunswick, 1982, is amended in the definition "municipal enterprise" by striking out the period at the end of the definition and substituting a semicolon.

 

2 The Act is amended by adding after section 6 the following:

6.1(1) A director of the Corporation may participate in a meeting of the Corporation or of a committee of the Corporation by means of telephone or other communication facilities that permit all persons participating in the meeting to hear each other, and a director participating in a meeting by those means shall be deemed for the purposes of this Act to be present at that meeting.

6.1(2) A meeting of the Corporation or of a committee of the Corporation may be held by polling each director separately, or a quorum of the directors if all of the directors are not available, by means of telephone or other communication facilities, and a director participating in a meeting by such poll shall be deemed for the purposes of this Act to be present at that meeting.

 

3 Subsection 13(3) of the English version of the Act is amended by striking out "subsection" and substituting "section".

4 Section 14 of the Act is amended

(a) in paragraph (3)(b) of the English version by striking out "sections" and substituting "section";

(b) by adding after subsection (3) the following:

14(4) The Minister of Municipalities and Housing may recover an amount from a municipality under subsection (2) or paragraph (3)(a) by retaining by way of deduction or set-off that amount out of any grant or other sum of money due or payable by the Minister of Municipalities and Housing to that municipality.

 

14(5) Nothing in subsection (4) affects any right of the Province to deduction or set-off under any other Act or regulation or at common law.

 

5 Section 15 of the Act is repealed and the following is substituted:

15(1) The administration expenses of the Corporation shall be paid by the Corporation.

15(2) Notwithstanding subsection (1), the Minister may, in such amounts and on such terms as are mutually agreeable, assist the Corporation in the payment of its administration expenses.

EXPLANATORY NOTES

Section 1

A typographical error is corrected.

Section 2

Provisions are added in respect of the holding of meetings by the New Brunswick Municipal Finance Corporation.

 

Section 3

A typographical error in the English version is corrected.

 

Section 4

(a) A spelling error in the English version is corrected.

 

(b) The new provision pertains to the recovery by the Minister of Municipalities and Housing of amounts in default under section 14 of the New Brunswick Municipal Finance Corporation Act.

 

Section 5

The existing provision is as follows:

15 The administration expenses of the Corporation shall be paid by the Minister in such amounts and on such terms as are mutually agreeable.