7.1 (1) The Minister may, subject to the approval of the Lieutenant Governor in Council, establish, acquire, manage, participate in or otherwise deal with corporations, partnerships, joint ventures or other entities for the purpose of investing assets in, supporting or developing transit-oriented community projects related to priority transit projects. 2020, c. 18, Sched. 20, s. 4 (1). Borrowing and risk management (2) When acting under subsection (1), the Minister may borrow or manage financial risks as long as, (a)  the Minister of Finance has, in writing, approved the borrowing or management; and (b)  the Ontario Financing Authority co-ordinates and arranges the borrowing or management, unless otherwise agreed to in writing by the Minister of Finance. 2020, c. 18, Sched. 20, s. 4 (1). Investment policy (3) The Minister shall ensure that every entity referred to in subsection (1) invests any funds that it receives either directly or indirectly from the Minister in accordance with an investment policy that has been approved in writing by the Minister of Finance. 2020, c. 18, Sched. 20, s. 4 (1). Regulations (4) The Lieutenant Governor in Council may make regulations, (a)  prescribing and governing any additional powers that the Minister may require in order to carry out the activities set out in subsection (1); (b)  prescribing and governing any limitations to permitted activities for the purposes of subsection (1); (c)  prescribing provisions of the Corporations Act, Business Corporations Act, Not-for-Profit Corporations Act, 2010 and Corporations Information Act that apply or do not apply to any particular corporation referred to in subsection (1) and, in the case of provisions prescribed as applying, prescribing such modifications of those provisions as the Lieutenant Governor in Council considers necessary or advisable; (d)  providing that an entity referred to in subsection (1) is or is not a Crown agent; (e)  prescribing and respecting the governance structure, purposes, powers or duties for a partnership, joint venture or other entity referred to in subsection (1) that is not a corporation; (f)  respecting any other matter that the Lieutenant Governor in Council considers necessary or advisable for the purposes of this section, including to ensure that an entity referred to in subsection (1) may effectively carry out its purposes, powers and duties. 2020, c. 18, Sched. 20, s. 4 (1); 2021, c. 34, Sched. 13, s. 1. Definitions (5) In this section, “priority transit project” means, (a)  the line known as the Ontario Line located in the City of Toronto, (b)  the subway extension known as the Scarborough Subway Extension, and also known as the Line 2 East Extension, located in the City of Toronto, (c)  the subway extension known as the Yonge Subway Extension, and also known as the Yonge North Subway Extension, extending from within the City of Toronto to within the Regional Municipality of York, or (d)  the light rail transit extension known as the Eglinton Crosstown West Extension extending westward from within the City of Toronto at the station known as Mount Dennis; (“projet de transport en commun prioritaire”) “transit-oriented community project” means a development project of any nature or kind and for any usage in connection with the construction or operation of a station that is part of a priority transit project, and includes a development project located on transit corridor land within the meaning of the Building Transit Faster Act, 2020. (“projet communautaire axé sur le transport en commun”) 2020, c. 35, Sched. 3, s. 3. Section Amendments with date in force (d/m/y) 2020, c. 18, Sched. 20, s. 4 (1) - 21/07/2020; 2020, c. 35, Sched. 3, s. 3 - 08/12/2020 2021, c. 34, Sched. 13, s. 1 - 02/12/2021