18.3 (1) The following persons and organizations may apply under this Part as a community sponsor or sponsors for registration of a corporation as a community small business investment fund corporation to make investments in eligible businesses: 1. An upper-tier municipality, one or more lower-tier municipalities within an upper-tier municipality or a local municipality. 2. The council of a First Nation. 3. An organization designated under subsection (6) as a community sponsor for an aboriginal community, other than a First Nation, that is designated under that subsection as an eligible aboriginal community for the purposes of this Act. 4. One or more universities or colleges of applied arts and technology in Ontario, whose enrolment is counted for the purposes of calculating annual operating grants entitlements from the Government of Ontario. 5. One or more research institutes affiliated with an Ontario university referred to in paragraph 4 or a hospital approved as a public hospital under the Public Hospitals Act. 5.1 An Ontario Centre of Excellence that is an eligible research institute for the purposes of section 97 of the Taxation Act, 2007. 6. A person or organization designated as a community sponsor for all or part of territory without municipal organization in an order given by the Minister under subsection (5).  1997, c. 43, Sched. C, s. 10; 2002, c. 17, Sched. F, Table; 2002, c. 22, s. 23; 2004, c. 16, s. 1 (2); 2008, c. 19, Sched. V, s. 2 (7). Proposal (2) An application for registration under this Part may be made by filing with the Minister a proposal in duplicate setting out the following information: 1. The name of the corporation and the community sponsor or sponsors. 2. The location of the registered office and all permanent establishments in Ontario of the corporation and the community sponsor or sponsors. 3. An investment plan for the corporation specifying, i. the rights and privileges attached to each class or series of shares of the corporation, the amount of the stated capital account of each class or series of shares issued and to be issued and the total amount of equity capital for which the shares were or will be issued, ii. the amounts and kinds of debt obligations, if any, issued by the corporation, iii. any restrictions on ownership and voting rights of the shares of the corporation, iv. the proposed number of shareholders of the corporation, v. details of the corporation’s proposed investment policies, and vi. any other matter prescribed to be set out in the investment plan. 4. The number of directors of the corporation and the name in full and the residence address of each of them. 5. The names in full of the officers of the corporation and the residence address of each of them. 6. Any other matter required by the regulations to be set out in the proposal.  1997, c. 43, Sched. C, s. 10; 2004, c. 16, s. 1 (2). Additional information (3) A proposal shall be accompanied by, (a) a certified copy of the articles of the corporation; (b) a true copy of all shareholders’ agreements, partnership agreements and proposed agreements relating to the corporation to which the corporation is a party or of which an officer or director of the corporation or a community sponsor, after making reasonable inquiry, has knowledge; and (c) any other prescribed material.  1997, c. 43, Sched. C, s. 10; 2004, c. 16, s. 1 (2). Certificate (4) The proposal shall be signed by two officers or one director and one officer of the corporation and shall contain a certificate in writing signed by one of them certifying that the information contained in the proposal is complete and accurate.  1997, c. 43, Sched. C, s. 10; 2004, c. 16, s. 1 (2). Territory without municipal organization (5) Upon application by a person or organization to the Minister, the Minister may designate the person or organization to be a community sponsor for all or part of territory without municipal organization and may impose terms and conditions considered to be appropriate by the Minister in connection with the designation.  1997, c. 43, Sched. C, s. 10; 2004, c. 16, s. 1 (2). Aboriginal community other than a First Nation (6) Upon application by an organization to the Minister, the Minister may, (a) designate an aboriginal community other than a First Nation as an eligible aboriginal community for the purposes of this Act; (b) designate the geographic limits of the territory of the community; (c) designate the organization as a community sponsor for the community; and (d) impose terms and conditions considered to be appropriate by the Minister in connection with the designations.  1997, c. 43, Sched. C, s. 10; 2004, c. 16, s. 1 (2). Section Amendments with date in force (d/m/y) 1997, c. 43, Sched. C, s. 10 - 7/05/1997 2002, c. 17, Sched. F, Table - 1/01/2003; 2002, c. 22, s. 23
- 9/12/2002 2004, c. 16, s. 1 (2) - 1/01/2004 2008, c. 19, Sched. V, s. 2 (7) - 1/01/2009