Regulations
43. (1) The Lieutenant Governor in Council, on the recommendation of the Minister of Finance, may make regulations governing all aspects of security offerings by community economic development corporations, including the form, contents, filing and distribution of offering statements, the timing of distributions of securities or any class of them, marketing practices, the process of obtaining the Minister of Finance’s approval for a security offering and offering statement and purchasers’ rights for misrepresentation in a security offering. 1993, c. 26, s. 43 (1). Same (2) The Lieutenant Governor in Council, on the recommendation of the Minister, may make regulations, (a) defining “community group” for the purpose of clause (f) of the definition of “sponsor” in subsection 1 (1); (b) defining “new or expanding” and “located in Ontario” for the purposes of the definitions of “eligible business” and “eligible borrower” in sections 6 and 16; (c) prescribing additional requirements for the purposes of sections 7 and 17; (d) defining “ordinarily resident in Ontario” for the purpose of paragraph 1 of subsection 8 (1); (e) prescribing terms and conditions to be included in any agreement entered into by a community investment share corporation for the purpose of investing in an eligible business; (f) prescribing additional classes of persons for the purposes of sections 8 and 18 and may, for such purposes, prescribe trusts governed by registered retirement savings plans, as defined in subsection 146 (1) of the Income Tax Act (Canada) as an additional class of persons; (g) prescribing the form, terms and conditions to be included in an operating agreement required by paragraph 7 of subsection 17 (1) and prescribing financial institutions or classes of them that may enter into such agreements and governing the approval process; (h) requiring community investment share corporations to give a right of first refusal to all or specified shareholders of an eligible business before selling any of their equity shares of the eligible business, and prescribing rules governing the right of first refusal; (i) governing applications for registration and for grants; (j) prescribing the form, terms and conditions of the provincial guarantee; (k) requiring community economic development corporations to carry insurance or provide a bond or maintain sinking, reserve or other funds and prescribing the form, amount, nature, class, provisions, conditions and disposition of the insurance, bond or fund; (l) amending any dollar amounts and percentages set out in this Act; (m) defining any word or expression used in this Act that has not already been expressly defined in this Act; (n) requiring the payment of fees for anything to be done in the administration of this Act, and prescribing the amount of the fees; (o) respecting the manner in which any notice required to be given by this Act shall be given; (p) prescribing information that may be collected from individuals or corporations by the Ministry or the Ministry of Finance for the administration or enforcement of this Act; (q) prescribing any other matter that is required or permitted by this Act to be prescribed or set out in the regulations. 1993, c. 26, s. 43 (2). Same (3) For the purposes of subsection (2), if an amount or rate is to be prescribed, the regulation may prescribe a method of determining the amount or rate. 1993, c. 26, s. 43 (3). Scope of regulations (4) A regulation may be general or specific in nature and may apply in respect of any class of person or thing. 1993, c. 26, s. 43 (4). Classes (5) A class under this Act or the regulations may be defined by inclusion or exclusion. 1993, c. 26, s. 43 (5). 44.-67. Omitted (amends or repeals other Acts). 1993, c. 26, ss. 44-67. 68. Omitted (provides for coming into force of provisions of this Act). 1993, c. 26, s. 68. 69. Omitted (enacts short title of this Act). 1993, c. 26, s. 69. _______________ Français