PART V MUNICIPAL REORGANIZATION
203.
203 (1) Without limiting sections 9, 10 and 11, those sections authorize a municipality to do the following things in accordance with such conditions and restrictions as may be prescribed: 1.  To establish corporations. 2.  To nominate or authorize a person to act as an incorporator, director, officer or member of a corporation. 3.  To exercise any power as a member of a corporation. 4.  To acquire an interest in or to guarantee such securities issued by a corporation as may be prescribed. 5.  To exercise any power as the holder of such securities issued by a corporation as may be prescribed.  2006, c. 32, Sched. A, s. 88. Duties of corporations, etc. (2) A corporation established by a municipality and a secondary corporation and the directors and officers of the corporation shall comply with such requirements as may be prescribed.  2009, c. 33, Sched. 21, s. 6 (7). Exceptions (3) This section does not apply with respect to a corporation established under section 142 of the Electricity Act, 1998, a corporation established under section 13 of the Housing Development Act, a local housing corporation as defined in the Housing Services Act, 2011 or any other corporation that a municipality is expressly authorized under any other Act to establish or control.  2006, c. 32, Sched. A, s. 88; 2011, c. 6, Sched. 1, s. 187 (2). Definition (3.1) For the purposes of this section, “secondary corporation” means a corporation established by a corporation that was established under subsection (1) and a corporation deemed under the regulations to be a secondary corporation.  2009, c. 33, Sched. 21, s. 6 (8). Regulations (3.2) The Lieutenant Governor in Council may make regulations providing that specified corporations are deemed to be secondary corporations.  2009, c. 33, Sched. 21, s. 6 (8). Regulations re corporations (4) The Lieutenant Governor in Council may make regulations governing the powers of a municipality under this section and governing corporations established under subsection (1) and secondary corporations, including regulations, (a)  prescribing the purposes for which a municipality may exercise its powers referred to in this section and imposing conditions and restrictions on the use of those powers; (b)  prescribing the purposes for which a corporation may carry on business or engage in activities; (c)  prescribing securities for the purposes of paragraphs 4 and 5 of subsection (1); (d)  imposing conditions and requirements that apply to a corporation and its directors and officers; (e)  providing that specified corporations are deemed to be or are deemed not to be local boards for the purposes of any provision of this Act or for the purposes of the definition of “municipality” in such other Acts as may be specified; (f)  providing that specified corporations are deemed for the purposes of any Act or specified provisions of an Act not to be operating a public utility in such circumstances as may be prescribed; (g)  exempting a municipality from the application of section 106 with respect to specified corporations; (h)  providing for transitional matters relating to a municipality’s exercise of its powers under section 106 or relating to a specified corporation’s exercise of its powers.  2006, c. 32, Sched. A, s. 88; 2009, c. 33, Sched. 21, s. 6 (9). Conflict (5) If there is a conflict between a regulation made under this section and a provision of this Act, other than this section, or of any other Act or regulation, the regulation made under this section prevails.  2006, c. 32, Sched. A, s. 88. Section Amendments with date in force (d/m/y) 2002, c. 17, Sched. A, s. 39 - 01/01/2003 2006, c. 32, Sched. A, s. 88 - 01/01/2007 2009, c. 33, Sched. 21, s. 6 (7-9) - 25/01/2010 2011, c. 6, Sched. 1, s. 187 (2) - 01/01/2012 Business Improvement Areas