Public transportation system authorized
36.(1)The Regional Corporation is authorized to establish a public transportation system. Regional Corporation may acquire shares of Company (2)The Regional Corporation may by by-law of the Regional Council acquire all the shares of the Company held by the Commission or the Corporation and all other assets and liabilities of the Commission and the Corporation in respect of the shares of the Company without compensation except as provided in subsection (9), and the acquisition of such shares shall carry with it the ownership and control of the subsidiary company. Board of Directors dissolved (3)The Board of Directors of the Company and the subsidiary company are dissolved on the date on which the Regional Corporation acquires the shares of the Company under subsection (2). Responsibility of Regional Corporation (4)Upon the acquisition of all the shares of the Company by the Regional Corporation, the Regional Corporation shall on or before the due date pay to the Corporation all amounts of principal and interest due on any outstanding debt in respect of such shares and if the Regional Corporation fails to make any payment required by this subsection on or before the due date, the Regional Corporation may be charged interest by the Corporation at the rate of 15 per cent per annum thereof from such date until payment is made. Commission dissolved (5)The Commission shall be deemed to be dissolved on the day of the passing of the by-law under subsection (2). Area municipality not to establish transportation service (6)No area municipality shall establish a public transportation service after the day of the passing of the by-law under subsection (2) or exercise any power under any Act respecting public transit matters provided for under this Part without the prior written approval of the Regional Corporation. Public transportation service, approval of Regional Council (7)Subject to subsection 42 (5), no person shall operate or cause to be operated in the Urban Transit Service Area after the dissolution of the Commission a public transportation service without having first obtained written approval of the Regional Council and any other approvals required by provincial or federal laws, and for greater clarity, the approval of the Regional Council shall always have been deemed to include the power to license, regulate and govern the operation of a public transportation service in the Urban Transit Service Area. Saving (8)Nothing in this Part shall be construed as limiting the right of the holder of an operating licence issued under the Public Vehicles Act, from operating a public transportation service according to the provisions of such licence through the Urban Transit Service Area or from or to any point within the Urban Transit Service Area. Disposal of assets (9)If the whole, or a substantial part, of the assets of the subsidiary company, including any of its routes, are disposed of by the Regional Corporation, the equity of the Corporation in such assets shall be credited to the Corporation in a manner to be determined by the Regional Corporation and the Corporation, and, in the event agreement cannot be reached, the parties shall submit the matter to arbitration under the Arbitrations Act. Public transportation service outside Urban Transit Area to be continued, etc. (10)Public transportation service operated by the Company or the subsidiary company on the 1st day of January, 1977 outside the limits of the Urban Transit Area, as established under this Part, shall by agreement between the Regional Council and the council of an area municipality be continued, discontinued, modified or varied. Idem (11)Public transportation service in an area municipality not within the limits of the Urban Transit Area, as established under this Part, shall be provided at the request of the council of any area municipality at such cost as may be agreed upon and in the event that there is any dispute as to the cost, after taking into account projected revenues, of the provision of such service, the matter shall be submitted to the Municipal Board for determination. R.S.O. 1990, c. R.12, s. 36 (1-11). Reporting not required (12)Subsection 7 (6) of the Public Vehicles Act does not apply to the acquisition of the shares of the Company under this section. R.S.O. 1990, c. R.12, s. 36 (12); 1996, c. 9, s. 30. Terms of employment continued (13)The contractual relations in respect of terms of employment, including rates of pay, sick leave credits, holidays with pay and superannuation benefits existing on the 1st day of January, 1977, between the Company or the subsidiary company on the one hand and the employees of the Company or the subsidiary company on the other hand remain in force and are binding upon the Regional Corporation and the Board of Directors established under subsection 37 (2) for the remainder of the term of any subsisting agreement or agreements in that regard. R.S.O. 1990, c. R.12, s. 36 (13).