jswizzle3737/ontario_laws_and_regs huggingface dataset:
1 In this Act, “Corporation” means the Ontario Infrastructure and Lands Corporation continued under subsection 2 (1); (“Société”) “eligible public organization” means an organization described in subsection 4 (2); (“organisation publique admissible”) “Government” means, (a)  the Government of Ontario and the Crown in right of Ontario, (b)  a ministry of the Government of Ontario, (c)  a Crown agency, other than a college of applied arts and technology established under the Ontario Colleges of Applied Arts and Technology Act, 2002, and (d)  any board, commission, authority or unincorporated body of the Crown; (“gouvernement”) “Government property” has the same meaning as in the Ministry of Infrastructure Act, 2011; (“biens du gouvernement”) “Minister” means, except where otherwise indicated, the Minister of Infrastructure or such other member of the Executive Council as may be assigned the administration of this Act under the Executive Council Act; (“ministre”) “Ministry” means, except where otherwise indicated, the Ministry of Infrastructure; (“ministère”) “municipality” has the same meaning as in subsection 1 (1) of the Municipal Act, 2001; (“municipalité”) “public sector organization” has the same meaning as in the
Ministry of Infrastructure Act, 2011. (“organisation du secteur public”)  2011, c. 9, Sched. 32, s. 1; 2015, c. 38, Sched. 7, s. 56 (1-3). Section Amendments with date in force (d/m/y) 2015, c. 38, Sched. 7, s. 56 (1-3) - 10/12/2016 Corporate Matters
2 (1) The Ontario Realty Corporation, continued under subsection 2 (2) of the Capital Investment Plan Act, 1993, the Ontario Infrastructure Projects Corporation, continued under subsection 2 (1) of the Ontario Infrastructure Projects Corporation Act, 2006, and the Stadium Corporation of Ontario Limited, incorporated on August 1, 1984 under the Business Corporations Act, are amalgamated and shall continue as a corporation without share capital under the name Ontario Infrastructure and Lands Corporation in English and Société ontarienne des infrastructures et de l’immobilier in French.  2011, c. 9, Sched. 32, s. 2 (1). Composition (2) The Corporation is composed of the members of its board of directors.  2011, c. 9, Sched. 32, s. 2 (2). Corporation name change (3) The Minister may, by regulation, change the name of the Corporation.  2011, c. 9, Sched. 32, s. 2 (3).
3 (1) Subject to subsections (2) and (3), the Corporation is a Crown agent for all purposes.  2011, c. 9, Sched. 32, s. 3 (1). Exception (2) The Corporation may declare in writing in an agreement, security or instrument that it is not acting as a Crown agent for the purposes of the agreement, security or instrument.  2011, c. 9, Sched. 32, s. 3 (2). Effect of declaration (3) If the Corporation makes a declaration in accordance with subsection (2), the Corporation shall be deemed not to be a Crown agent for the purposes of the agreement, security or instrument and the Crown is not liable for any liability or obligation of the Corporation under the agreement, security or instrument.  2011, c. 9, Sched. 32, s. 3 (3).
4.1 (1) This section applies to an amalgamated corporation that is formed by the amalgamation of two or more corporations, each of which was incorporated or amalgamated under the Business Corporations Act for the purpose of generating, transmitting, distributing or retailing electricity, if the following conditions are met:  1.  At least 90 per cent of the shares of the amalgamated corporation are held by one or more municipal corporations. 2.  Immediately before the amalgamation, at least one of the amalgamating corporations was a party to an agreement with the Corporation under which the Corporation agreed to provide it with financing for infrastructure purposes prescribed under clause 36 (1) (a). 3.  The agreement was entered into at least six months before the day the application for leave to amalgamate was submitted to the Ontario Energy Board under section 86 of the Ontario Energy Board Act, 1998. 4.  The terms of the agreement are consistent with any Act or regulation governing the amalgamated corporation. 2017, c. 8, Sched. 25, s. 2. Eligible public organization for limited purpose (2) The amalgamated corporation is an eligible public organization for the purposes of subparagraph 1 iii of subsection 4 (1), but only for the purpose of the amalgamated corporation continuing as a party to the agreement with the Corporation described in paragraph 2 of subsection (1) of this section, in the place of the amalgamating corporation. 2017, c. 8, Sched. 25, s. 2. Same (3) For greater certainty, the amalgamated corporation is not an eligible public organization for the purpose of the Corporation entering into a new agreement with the amalgamated corporation under which the Corporation agrees to provide the amalgamated corporation with financing for infrastructure purposes prescribed under clause 36 (1) (a). 2017, c. 8, Sched. 25, s. 2. Same (4) For greater certainty, a renewal or extension of, or an amendment to, the agreement with the Corporation described in paragraph 2 of subsection (1), in accordance with its terms, is not a new agreement under subsection (3). 2017, c. 8, Sched. 25, s. 2. Section Amendments with date in force (d/m/y) 2017, c. 8, Sched. 25, s. 2 - 01/12/2016
5 (1) Section 8 of the Ministry of Infrastructure Act, 2011 does not apply in respect of an agreement entered into by the Corporation related to constructing, renovating, repairing or improving Government property, if the Minister so directs in writing before the agreement is entered into. 2015, c. 38, Sched. 7, s. 56 (6). Direction of Minister (2) A direction of the Minister under subsection (1) may be general or specific.  2011, c. 9, Sched. 32, s. 5 (2). Non-application of Legislation Act, 2006, Part III (3) Part III of the Legislation Act, 2006 does not apply to a direction under subsection (1).  2011, c. 9, Sched. 32, s. 5 (3). Section Amendments with date in force (d/m/y) 2015, c. 38, Sched. 7, s. 56 (6) - 10/12/2016
6 The Corporation has the capacity, rights, powers and privileges of a natural person, except as limited by this Act.  2011, c. 9, Sched. 32, s. 6.
7 (1) The Corporation cannot hold real property or an interest in real property in its own name.  2011, c. 9, Sched. 32, s. 7 (1). Exception (2) Despite subsection (1), the Corporation may hold real property or an interest in real property in its own name under an agreement, security or instrument that includes a declaration under subsection 3 (2).  2011, c. 9, Sched. 32, s. 7 (2). Same (3) Despite subsection (1), the Corporation may, in its own name, take a security interest in real property or an interest in real property in respect of activities related to paragraph 1 of subsection 4 (1).  2011, c. 9, Sched. 32, s. 7 (3).
8 (1) Without limiting the generality of section 6, the Corporation may obtain funding by borrowing money, by issuing bonds, debentures and other securities, and through, (a)  the establishment of a subsidiary corporation by Lieutenant Governor in Council under section 32; (b)  the acquisition of a subsidiary corporation under section 33; (c)  the establishment of a trust, partnership or other entity under section 35; or (d)  the acquisition of the assets or, if applicable, the liabilities, of a trust, partnership or other entity under section 35.  2011, c. 9, Sched. 32, s. 8 (1). Restriction on certain financial activities (2) The Corporation shall not borrow, invest funds or manage financial risks unless, (a)  the activity is authorized by a by-law of the Corporation; and (b)  the by-law is approved in accordance with section 13.  2011, c. 9, Sched. 32, s. 8 (2). Co-ordination of certain financial activities (3) Subject to subsection (4), the Ontario Financing Authority shall co-ordinate and arrange all borrowing, investing of funds and managing of financial risks of the Corporation.  2011, c. 9, Sched. 32, s. 8 (3). Same (4) The Minister of Finance may in writing direct a person other than the Ontario Financing Authority to perform the functions referred to in subsection (3).  2011, c. 9, Sched. 32, s. 8 (4). Direction of Minister (5) A direction of the Minister of Finance under subsection (4) may be general or specific and may include terms and conditions that the Minister of Finance considers advisable.  2011, c. 9, Sched. 32, s. 8 (5). Non-application of Legislation Act, 2006, Part III (6) Part III of the Legislation Act, 2006 does not apply to a direction issued under subsection (4).  2011, c. 9, Sched. 32, s. 8 (6).
9 (1) The board of directors of the Corporation is composed of at least five and not more than 13 members, or a number prescribed by regulation, who are appointed by the Lieutenant Governor in Council on the recommendation of the Minister.  2011, c. 9, Sched. 32, s. 9 (1). Term of office (2) A director shall hold office at pleasure for a term not exceeding three years and may be reappointed for successive terms not exceeding three years each.  2011, c. 9, Sched. 32, s. 9 (2). Quorum (3) Subject to the by-laws of the Corporation, a majority of the directors of the board constitutes a quorum for the transaction of business.  2011, c. 9, Sched. 32, s. 9 (3). Chair and vice-chairs (4) The Lieutenant Governor in Council shall designate a director as the chair and may designate one or more directors as vice-chairs.  2011, c. 9, Sched. 32, s. 9 (4). Acting chair (5) If the chair is absent or unable to act or if the office of chair is vacant, a vice-chair shall act as and have all the powers of the chair.  2011, c. 9, Sched. 32, s. 9 (5). Same (6) If the chair and vice-chairs are absent from a board meeting, the directors present at the meeting shall appoint an acting chair from among themselves to act as and to have all the powers of the chair during the meeting.  2011, c. 9, Sched. 32, s. 9 (6). Remuneration (7) A director who is not a public servant appointed under Part III of the Public Service of Ontario Act, 2006 shall be paid remuneration and expenses as determined by the Lieutenant Governor in Council.  2011, c. 9, Sched. 32, s. 9 (7).
10 The Lieutenant Governor in Council, on the recommendation of the Minister, may appoint a chief executive officer for the Corporation to be responsible for its operation and for the performance of such other functions as are assigned by the Corporation’s board of directors.  2011, c. 9, Sched. 32, s. 10.
11 The Not-for-Profit Corporations Act, 2010, the Business Corporations Act, the Corporations Information Act and the Loan and Trust Corporations Act do not apply to the Corporation, except as prescribed by regulation.  2011, c. 9, Sched. 32, s. 11, 37. Section Amendments with date in force (d/m/y) 2011, c. 9, Sched. 32, s. 37 - 19/10/2021
12 (1) The board of directors shall manage or supervise the management of the business and affairs of the Corporation. 2011, c. 9, Sched. 32, s. 12 (1). Delegated duties, etc. (2) The business and affairs of the Corporation include the carrying out of the powers, duties and functions delegated to the Corporation by the Minister under the Ministry of Infrastructure Act, 2011 or the Building Broadband Faster Act, 2021. 2011, c. 9, Sched. 32, s. 12 (2); 2021, c. 2, Sched. 1, s. 29 (2). By-laws (3) The board may pass by-laws and resolutions regulating its proceedings and generally for the conduct and management of the business and affairs of the Corporation. 2011, c. 9, Sched. 32, s. 12 (3). Section Amendments with date in force (d/m/y) 2021, c. 2, Sched. 1, s. 29 (2) - 12/04/2021
13 (1) A by-law of the Corporation with respect to borrowing, investing or managing financial risks does not take effect until it is approved by the Minister and the Minister of Finance.  2011, c. 9, Sched. 32, s. 13 (1). By-laws re borrowing, contents (2) A by-law with respect to borrowing by the Corporation shall not be approved unless the by-law includes the following information: 1.  The maximum principal amount of borrowing that may be outstanding at any time under the authority of the by-law. 2.  The period, not to exceed five years, during which the Corporation may borrow under the authority of the by-law. 3.  The date after which no debts are permitted to remain unpaid under the authority of the by-law. 4.  Such other terms and conditions as the Minister of Finance may specify.  2011, c. 9, Sched. 32, s. 13 (2).
14 (1) The board of directors may, in accordance with the by-laws,  (a)  delegate any of its powers to a committee of the board or to one or more directors; and (b)  delegate any of its powers to manage the business and affairs of the Corporation to one or more officers of the Corporation.  2011, c. 9, Sched. 32, s. 14 (1). Terms, conditions and restrictions (2) A delegation under subsection (1) is subject to any terms, conditions and restrictions set out in the delegation.  2011, c. 9, Sched. 32, s. 14 (2). Same (3) A delegation under subsection (1) may be general or specific.  2011, c. 9, Sched. 32, s. 14 (3). Exceptions (4) The board cannot delegate its power to make by-laws or to approve the financial statements or the annual report of the Corporation.  2011, c. 9, Sched. 32, s. 14 (4).
15 (1) The Minister may issue policies and directives in writing to the Corporation on matters relating to the exercise or performance of its powers, duties and functions and may include directions with respect to the timing or manner of implementation of the policies or directives.  2011, c. 9, Sched. 32, s. 15 (1). Corporation to implement (2) The board of directors of the Corporation shall ensure that the policies and directives issued to the Corporation are implemented.  2011, c. 9, Sched. 32, s. 15 (2). Non-application of Legislation Act, 2006, Part III (3) Part III of the Legislation Act, 2006 does not apply to a policy or directive issued under this section.  2011, c. 9, Sched. 32, s. 15 (3).
16 (1) The Minister may appoint one or more persons to review any activity or proposed activity of the Corporation and to report the results of the review to the Minister.  2011, c. 9, Sched. 32, s. 16 (1). Duty to co-operate (2) If the Minister makes an appointment under subsection (1), the Corporation shall co-operate fully with the review and take all necessary steps to facilitate the review.  2011, c. 9, Sched. 32, s. 16 (2).
17 The fiscal year of the Corporation begins on April 1 in each year and ends on March 31 of the following year.  2011, c. 9, Sched. 32, s. 17.
18 (1) The Corporation shall prepare an annual report, provide it to the Minister no later than 120 days after the end of the Corporation’s fiscal year and make it available to the public. 2017, c. 34, Sched. 46, s. 39 (1). Same (2) The Corporation shall comply with such directives as may be issued by the Management Board of Cabinet with respect to, (a)  the form and content of the annual report; and (b)  when and how to make it available to the public. 2017, c. 34, Sched. 46, s. 39 (1). Same (3) The Corporation shall include such additional content in the annual report as the Minister may require. 2017, c. 34, Sched. 46, s. 39 (1). Section Amendments with date in force (d/m/y) 2017, c. 34, Sched. 46, s. 39 (1) - 01/01/2018
18.1 The Minister shall table the Corporation’s annual report in the Assembly and shall comply with such directives as may be issued by the Management Board of Cabinet with respect to when to table it. 2017, c. 34, Sched. 46, s. 39 (1). Section Amendments with date in force (d/m/y) 2017, c. 34, Sched. 46, s. 39 (1) - 01/01/2018
19 The Corporation shall give any other reports and information to the Minister that the Minister requires.  2011, c. 9, Sched. 32, s. 19. Employment Matters
20 (1) The Corporation may employ or otherwise engage persons as it considers necessary for the proper conduct of the business of the Corporation.  2011, c. 9, Sched. 32, s. 20 (1). Status of employees (2) Employees of the Corporation shall not be appointed under Part III of the Public Service of Ontario Act, 2006
and are not employees of the Crown for any purpose.  2011, c. 9, Sched. 32, s. 20 (2). Agreements to provide services (3) The Corporation may enter into agreements with any minister of the Crown or chair of a Crown agency for the provision of services to the Corporation by employees of the Crown or employees of the Crown agency, as the case may be.  2011, c. 9, Sched. 32, s. 20 (3). Financial Matters
21 (1) Despite Part I of the
Financial Administration Act, the revenues and investments of the Corporation do not form part of the Consolidated Revenue Fund.  2011, c. 9, Sched. 32, s. 21 (1). Same (2) The revenues of the Corporation shall be applied to carrying out its objects.  2011, c. 9, Sched. 32, s. 21 (2).
21.1 (1) Despite section 21, all expenses incurred and expenditures of the Corporation in the provision of the advice and services set out in paragraph 6 of subsection 4 (1) shall be paid out of the revenues made by the Corporation from the provision of
the advice and services set out in paragraph 6 of subsection 4 (1). 2019, c. 7, Sched. 45, s. 2. Net profits (2) Despite section 21, the Corporation’s net profits from the provision of the advice and services set out in paragraph 6 of subsection 4 (1) shall be determined and paid into the Consolidated Revenue Fund at the times and in the manner directed by the Minister. 2019, c. 7, Sched. 45, s. 2. Reports (3) The Corporation shall give the Minister, at the times required by the Minister, reports that, (a)  set out the revenues, expenses incurred and expenditures of the Corporation, as well as the net profit and net profit forecasts of the Corporation, from the provision of the advice and services set out in paragraph 6 of subsection 4 (1); and (b)  contain any additional financial information requested by the Minister. 2019, c. 7, Sched. 45, s. 2. Section Amendments with date in force (d/m/y) 2019, c. 7, Sched. 45, s. 2 - 29/05/2019
22 (1) The board of directors of the Corporation shall appoint an auditor licensed under the Public Accounting Act, 2004 to audit the accounts and financial transactions of the Corporation annually.  2011, c. 9, Sched. 32, s. 22 (1). Same (2) The Auditor General may, at any time, audit any aspect of the operations of the Corporation.  2011, c. 9, Sched. 32, s. 22 (2).
23 (1) The Lieutenant Governor in Council may raise by way of loan in the manner provided by the Financial Administration Act sums that the Lieutenant Governor in Council considers necessary for the purposes of the Corporation, and the Minister of Finance shall use the sums to make advances to the Corporation by way of loan or to purchase securities issued by the Corporation in the amounts, at the times and on the terms and conditions that the Minister of Finance may determine.  2011, c. 9, Sched. 32, s. 23 (1). Order authorizing loans, etc. (2) The Lieutenant Governor in Council may by order authorize the Minister of Finance to purchase securities of or make loans to the Corporation in the amounts, at the times and on the terms as the Minister of Finance may determine, subject to the maximum principal amount specified by the Lieutenant Governor in Council that may be purchased or advanced or that may be outstanding at any time.  2011, c. 9, Sched. 32, s. 23 (2). Payment from the CRF (3) The Minister of Finance may pay out of the Consolidated Revenue Fund any amount required for the purposes of subsections (1) and (2).  2011, c. 9, Sched. 32, s. 23 (3). Delegation (4) The Lieutenant Governor in Council may by order delegate any or all of the powers of the Minister of Finance under subsections (1) and (2) to, (a)  a public servant employed under Part III of the Public Service of Ontario Act, 2006 who works in the Ministry of Finance, other than in the office of the Minister of Finance; (b)  a solicitor engaged to act for the Minister of Finance; (c)  the chief executive officer of the Ontario Financing Authority; (d)  a public servant employed under Part III of the Public Service of Ontario Act, 2006 who works in the Ontario Financing Authority; or (e)  a solicitor engaged to act for the Ontario Financing Authority.  2011, c. 9, Sched. 32, s. 23 (4).
24 (1) The Minister of Finance shall pay from the Consolidated Revenue Fund the amount of any judgment against the Corporation that remains unpaid after the Corporation has made reasonable efforts, including liquidating assets, to pay the amount of the judgment.  2011, c. 9, Sched. 32, s. 24 (1). Exception (2) Subsection (1) does not apply to a judgment against the Corporation relating to an agreement, security or instrument with respect to which the Corporation has made a declaration described in subsection 3 (2).  2011, c. 9, Sched. 32, s. 24 (2).
25 (1) This section applies where, (a)  a municipality or eligible public organization has borrowed money from the Corporation for a purpose prescribed under clause 36 (1) (a); and (b)  money has been appropriated by the Assembly for payment to the municipality or the eligible public organization.  2011, c. 9, Sched. 32, s. 25 (1). Agreement re default (2) As security for repayment, the municipality or the eligible public organization may agree in writing with the Corporation that in the event of default on repayment of the amount borrowed under clause (1) (a) or any portion of the amount borrowed, the Minister of Finance may deduct from the money mentioned in clause (1) (b) amounts not exceeding the amounts that the municipality or the organization fails to pay to the Corporation on account of the indebtedness.  2011, c. 9, Sched. 32, s. 25 (2). Minister of Finance shall deduct (3) If the municipality or the eligible public organization has entered into an agreement under subsection (2) and is in default of repayment to the Corporation, the Minister of Finance shall deduct from the money mentioned in clause (1) (b) amounts not exceeding the amounts the municipality or organization fails to pay to the Corporation on account of the indebtedness and shall pay the amount deducted to the Corporation from the Consolidated Revenue Fund.  2011, c. 9, Sched. 32, s. 25 (3). Immunities
26 The Corporation may waive any immunity to which it may be entitled outside Ontario as a Crown agent and may submit to the jurisdiction of a court outside Ontario.  2011, c. 9, Sched. 32, s. 26.
27 (1) No action or other civil proceeding shall be commenced against a director, officer, employee or agent of the Corporation for an act done in good faith in the exercise or performance or intended exercise or performance of a power or duty under this Act or the regulations, under the by-laws of the Corporation or under a policy or directive issued under subsection 15 (1) or for neglect or default in the exercise or performance in good faith of the power or duty.  2011, c. 9, Sched. 32, s. 27 (1). Immunity of the Crown (2) No action or other civil proceeding shall be commenced against the Crown for any act, neglect or default by a person referred to in subsection (1) or for any act, neglect or default by the Corporation.  2011, c. 9, Sched. 32, s. 27 (2); 2017, c. 8, Sched. 25, s. 3. Exception (3) Subsection (2) does not apply to a proceeding to enforce against the Crown its obligations under a written contract to which it is a party.  2011, c. 9, Sched. 32, s. 27 (3). Same (4) Subsections (1) and (2) do not relieve the Corporation of any liability to which it would otherwise be subject with respect to a cause of action arising from any act, neglect or default mentioned in subsection (1).  2011, c. 9, Sched. 32, s. 27 (4). Section Amendments with date in force (d/m/y) 2017, c. 8, Sched. 25, s. 3 - 01/12/2016 Parking
28 A by-law of a municipality under the Municipal Act, 2001 or the City of Toronto Act, 2006 that regulates or prohibits the parking or leaving of motor vehicles on land applies to land managed by the Corporation.  2011, c. 9, Sched. 32, s. 28. Winding Up
29 (1) The Lieutenant Governor in Council may by order require the board of directors to wind up the affairs of the Corporation, and may by order specify terms relating to the winding up of the Corporation.  2011, c. 9, Sched. 32, s. 29 (1). Duty of board (2) The board shall prepare a proposed plan for winding up the Corporation and transferring its assets and liabilities and shall give the proposed plan to the Lieutenant Governor in Council.  2011, c. 9, Sched. 32, s. 29 (2). Plan (3) The plan for winding up the Corporation may provide for, (a)  liquidating assets and transferring the proceeds to the Consolidated Revenue Fund or to an agency of the Crown; (b)  transferring assets and liabilities to the Crown or to an agency of the Crown; and (c)  any other matter relating to the winding up of the Corporation.  2011, c. 9, Sched. 32, s. 29 (3). Same (4) On the approval of the proposed plan by the Lieutenant Governor in Council, the board shall wind up the affairs of the Corporation and transfer its assets and liabilities, including transferring the proceeds from the liquidation of assets, in accordance with the plan.  2011, c. 9, Sched. 32, s. 29 (4). Dissolve Corporation (5) When the winding up of the Corporation is complete, the Lieutenant Governor in Council may by order dissolve the Corporation as of the date specified in the order.  2011, c. 9, Sched. 32, s. 29 (5). Non-application of Legislation Act, 2006, Part III (6) Part III of the Legislation Act, 2006 does not apply to an order of the Lieutenant Governor in Council made under this section.  2011, c. 9, Sched. 32, s. 29 (6). Transitional Matters Transition, corporate matters
31 (1) On the coming into force of subsection 2 (1), all individuals who were employees of the Ontario Realty Corporation, the Ontario Infrastructure Projects Corporation or the Stadium Corporation of Ontario Limited immediately before subsection 2 (1) came into force become employees of the Corporation.  2011, c. 9, Sched. 32, s. 31 (1). Agreements (2) On the coming into force of subsection 2 (1), all employment agreements in effect immediately before subsection 2 (1) came into force to which the Ontario Realty Corporation, the Ontario Infrastructure Projects Corporation or the Stadium Corporation of Ontario Limited was a party continue in effect as if the Corporation were substituted for the Ontario Realty Corporation or the Ontario Infrastructure Projects Corporation or the Stadium Corporation of Ontario Limited, as the case may be, as a party to the agreement.  2011, c. 9, Sched. 32, s. 31 (2). Same (3) The operation of subsections (1) and (2) does not constitute a breach, termination, repudiation or the frustration of an employment agreement.  2011, c. 9, Sched. 32, s. 31 (3). Subsidiaries and Other Entities
32 (1) The Lieutenant Governor in Council may by regulation establish subsidiary corporations of the Corporation with the objects, purposes, powers and duties set out in the regulation and may provide for the constitution and management of the subsidiary corporations.  2011, c. 9, Sched. 32, s. 32 (1). Same (2) Without limiting the generality of subsection (1), the Lieutenant Governor in Council may make regulations respecting subsidiary corporations established under subsection (1), (a)  giving a subsidiary corporation the capacity, rights, powers and privileges of a natural person for carrying out its objects, and providing for any limitations on the capacity, rights, powers and privileges that the Lieutenant Governor in Council considers advisable; (b)  providing that a subsidiary corporation is or is not a Crown agent; (c)  prescribing provisions of the Not-for-Profit Corporations Act, 2010, the Business Corporations Act, the Corporations Information Act and the Loan and Trust Corporations Act that apply or do not apply to a subsidiary corporation 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)  governing the liability of the Corporation or the Crown for an act or omission of, (i)  a subsidiary corporation, and (ii)  a director, officer, employee or agent of a subsidiary corporation; (e)  governing the liability of a director, officer, employee or agent of a subsidiary corporation for an act or omission of the director, officer, employee or agent; (f)  subject to section 34, providing that any provision of this Act that applies to the Corporation and that would not otherwise apply to a subsidiary corporation applies to a subsidiary corporation, and prescribing such modifications of those provisions as the Lieutenant Governor in Council considers necessary or advisable; (g)  governing the winding up and dissolution of a subsidiary corporation and the transfer of its assets, liabilities, rights and obligations; (h)  providing for any other matter that the Lieutenant Governor in Council considers necessary or advisable to ensure that a subsidiary corporation may effectively carry out its powers and duties.  2011, c. 9, Sched. 32, s. 32 (2), 37. Section Amendments with date in force (d/m/y) 2011, c. 9, Sched. 32, s. 37 - 19/10/2021
33 (1) The Lieutenant Governor in Council may by regulation authorize the Corporation to acquire a subsidiary corporation.  2011, c. 9, Sched. 32, s. 33 (1). Same (2) In a regulation made under subsection (1), the Lieutenant Governor in Council may specify any terms that are necessary or advisable, in the opinion of the Lieutenant Governor in Council, in relation to the acquisition of the subsidiary corporation.  2011, c. 9, Sched. 32, s. 33 (2). Same (3) Without limiting the generality of subsections (1) and (2), the Lieutenant Governor in Council may make regulations respecting subsidiary corporations acquired under subsection (1), (a)  prescribing provisions of the Not-for-Profit Corporations Act, 2010, the Business Corporations Act, the Corporations Information Act and the Loan and Trust Corporations Act that apply or do not apply to a subsidiary corporation 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; (b)  governing the liability of the Corporation or the Crown for an act or omission of, (i)  a subsidiary corporation, and (ii)  a director, officer, employee or agent of a subsidiary corporation; (c)  subject to section 34, providing that any provision of this Act that applies to the Corporation and that would not otherwise apply to a subsidiary corporation applies to a subsidiary corporation, and prescribing such modifications of those provisions as the Lieutenant Governor in Council considers necessary or advisable; (d)  governing the winding up and dissolution of a subsidiary corporation and the transfer of its assets, liabilities, rights and obligations; (e)  respecting any other matter that the Lieutenant Governor in Council considers necessary or advisable to ensure that a subsidiary corporation may effectively carry out its powers and duties.  2011, c. 9, Sched. 32, s. 33 (3), 37. Status as Crown agent (4) A subsidiary corporation that was a Crown agent immediately before it was acquired by the Corporation under subsection (1) continues to be a Crown agent after its acquisition, and a subsidiary corporation that was not a Crown agent immediately before it was acquired by the Corporation under subsection (1) continues not to be a Crown agent after its acquisition.  2011, c. 9, Sched. 32, s. 33 (4). Section Amendments with date in force (d/m/y) 2011, c. 9, Sched. 32, s. 37 - 19/10/2021
34 (1) The following provisions apply, with necessary modifications, to a subsidiary corporation that is a Crown agent and that is established under section 32 or acquired under section 33: 1.  Subsections 8 (2), (3), (4) and (5). 2.  Subsections 13 (1) and (2). 3.  Sections 15, 16, 17, 19, 21, 22, 23, 26 and 27.  2011, c. 9, Sched. 32, s. 34 (1). Payment of judgment against subsidiary corporation (2) The Corporation shall pay the amount of any judgment against a subsidiary corporation mentioned in subsection (1) that remains unpaid after the subsidiary corporation has made reasonable efforts, including liquidating assets, to pay the amount of the judgment.  2011, c. 9, Sched. 32, s. 34 (2). Same (3) The Minister of Finance shall pay from the Consolidated Revenue Fund the amount of any judgment against a subsidiary corporation mentioned in subsection (1) that remains unpaid after, (a)  the subsidiary corporation has made reasonable efforts, including liquidating assets, to pay the amount of the judgment; and (b)  the Corporation has made reasonable efforts, including liquidating assets, to pay the amount of the judgment that remains unpaid after the subsidiary corporation has made the efforts described in clause (a).  2011, c. 9, Sched. 32, s. 34 (3). Regulations (4) The Lieutenant Governor in Council may make regulations providing that a subsidiary corporation mentioned in subsection (1) may declare in writing in an agreement, security or instrument that it is not acting as a Crown agent for the purposes of the agreement, security or instrument.  2011, c. 9, Sched. 32, s. 34 (4).
35 (1) The Lieutenant Governor in Council may by regulation authorize the Corporation to do one or more of the following: 1.  Establish a trust, partnership or other entity. 2.  Acquire assets of a trust, partnership or other entity. 3.  If acquiring assets under paragraph 2, acquire liabilities of the trust, partnership or other entity.  2011, c. 9, Sched. 32, s. 35 (1). Same (2) In a regulation made under subsection (1), the Lieutenant Governor in Council may specify any terms that are necessary or advisable, in the opinion of the Lieutenant Governor in Council, in relation to, (a)  the establishment of a trust, partnership or other entity; or (b)  the acquisition of the assets or, if applicable, the liabilities of a trust, partnership or other entity.  2011, c. 9, Sched. 32, s. 35 (2). Trusts, etc., established by Corporation (3) Without limiting the generality of subsections (1) and (2), the Lieutenant Governor in Council may make regulations respecting trusts, partnerships or other entities established under the authority of paragraph 1 of subsection (1), (a)  providing that a trust, partnership or other entity is or is not a Crown agent; (b)  providing that any provision of this Act that applies to the Corporation and that would not otherwise apply to a trust, partnership or other entity applies to a trust, partnership or other entity, and prescribing such modifications of those provisions as the Lieutenant Governor in Council considers necessary or advisable; (c)  respecting the liability of the Corporation or the Crown for any act or omission of, (i)  a trust, partnership or other entity, (ii)  the trustees of a trust, partners of a partnership, or members of the governing body of another entity, and (iii)  officers, employees or agents of a trust, partnership or other entity; (d)  respecting any other matter that the Lieutenant Governor in Council considers necessary or advisable to ensure that a trust, partnership or other entity may effectively carry out its purposes, powers and duties.  2011, c. 9, Sched. 32, s. 35 (3). Regulations