28 (1) Where a municipality has become subject to this Part, the Tribunal, with respect to the debenture debt and debentures of the municipality and interest thereon and with respect to any other indebtedness thereof, has power to authorize or direct, (a)  the consolidation of the whole or any portion thereof; (b)  the issue, on such terms and conditions, in such manner and at such times as the Tribunal may approve, of debentures, certificates or other evidences of indebtedness, in substitution and exchange for any outstanding debentures or in payment and satisfaction of the whole or any portion of such other indebtedness, and compulsory acceptance of such debentures, certificates or other evidences of indebtedness in payment and satisfaction of such outstanding debentures or other indebtedness; (c)  the issue of new debentures to cover any such consolidation; (d)  the retirement and cancellation of the whole or any portion of the existing debenture debt and outstanding debentures, upon the issue of new debentures to cover them or in exchange therefor; (e)  the terms, conditions, places and times for exchange of new debentures for outstanding debentures; (f)  the postponement of or variation in the terms, times and places for payment of the whole or any portion of the debenture debt and outstanding debentures and other indebtedness and interest thereon and variation in the rates of such interest; (g)  the cancellation, increase, decrease or other variation in the levy and collection of any assessment, rate or taxation, rent or charge imposed to meet, pay and discharge any debenture debt, debentures, or other indebtedness, and interest thereon, and to vary the basis, terms and times of payment thereof; (h)  the creation and setting aside of sinking funds and special reserves out of any portion of the revenues of the municipality for meeting, paying and discharging its debenture debt, debentures or other indebtedness or any portion thereof or interest thereon; (i)  the custody, management, investment and application of sinking funds, reserves and surpluses; (j)  the ratification and confirmation of any agreement, arrangement or compromise entered into with its creditors or any of them respecting its debenture debt, debentures or other indebtedness or any portion thereof and interest thereon; (k)  any variation, amendment or cancellation of any order made by it under this section or of the terms of any agreement, arrangement or compromise ratified and confirmed by it under this section; (l)  an interim plan, pending a final order or plan with respect thereto, which may cancel all or any portion of interest in arrear and may alter, modify or compromise the rights of debenture holders or other creditors during any period of time between the date of default and the end of the fifth year following the date of the order of the Tribunal.  R.S.O. 1990, c. M.46, s. 28 (1); 2021, c. 4, Sched. 6, s. 65 (1). Limitation (2) The Tribunal shall not make any order under clause (1) (l) unless creditors, representing not less than two-thirds in amount of the aggregate of the indebtedness of the municipality or separate school board including therein debenture indebtedness but excluding therefrom indebtedness in respect of which the municipality or separate school board is not directly but only contingently or collaterally liable, have filed in writing with the Tribunal their approval of the making of such order.  R.S.O. 1990, c. M.46, s. 28 (2); 2021, c. 4, Sched. 6, s. 65 (1). Powers of Tribunal with respect to debt (3) Where a municipality has become subject to this Part, the Tribunal, with respect to the debenture debt and debentures of such municipality and interest thereon and with respect to any other indebtedness thereof, may, (a)  authorize or direct any municipality, whether or not it has become subject to this Part, to continue to guarantee any such debentures despite any postponement or variation in the terms, provisions and time of payment thereof, and to guarantee any new debentures issued in substitution and exchange therefor; (b)  authorize or direct any municipality, whether or not it has become subject to this Part, to assume and pay by the issue of debentures or otherwise a share of any liability in respect of which such municipality may be jointly or jointly and severally liable with any other municipality, which share may be either in full satisfaction of such liability of such municipality or on account thereof, and, if on account, the Tribunal may order that provision be made for further payment in respect thereof; (c)  summon and enforce the attendance of such persons as the Tribunal thinks fit to summon, and the Tribunal shall direct that reasonable notice be given of any application under this subsection to every person whose interests it considers to be directly affected thereby and every order made under this subsection is binding upon every such person.  R.S.O. 1990, c. M.46, s. 28 (3); 2021, c. 4, Sched. 6, s. 65 (1). Section Amendments with date in force (d/m/y) 2021, c. 4, Sched. 6, s. 65 (1) - 01/06/2021