Marginal note:Meetings

• 19. (1) The Board shall meet at such times, but at least once in each year, and at such places as the President may select.

• Marginal note:Quorum

  (2) At a meeting of the Board, four members of the Board, including the President or the member designated pursuant to subsection 18(4) to act as chairperson at that meeting, constitute a quorum.

Marginal note:Regulations

• 20. (1) The Minister may make regulations

  • (a) specifying programs and projects in addition to those referred to in paragraph 13(c) to improve the business environment in Atlantic Canada;

  • (b) defining, for the purposes of this Part, the expressions “small and medium-sized enterprises”, “project” and “demonstration projects” and the class or classes of small and medium-sized enterprises and of operations and activities eligible for support by the Agency under this Part; and

  • (c) generally for carrying out the purposes and provisions of this Part.

• Marginal note:Idem

  (2) The Minister may, with the approval of the Minister of Finance, make regulations

  • (a) relating to loans that may be made, guarantees that may be given and loan insurance and credit insurance that may be provided under this Part; and

  • (b) specifying the circumstances in which and the manner in which the Minister may acquire, exercise, assign or sell a stock option obtained as a condition under which a contribution or loan was made, a guarantee given or loan insurance or credit insurance provided under this Part.

• Marginal note:Designated area regulations

  (3) In order to exploit the opportunities for locally based improvements in productive employment identified in a designated area, regulations specially applicable to that area may be made under the authority of this section that vary from regulations of general application to Atlantic Canada.

Marginal note:Annual report of Agency

• 21. (1) The President shall, within four months after the end of each fiscal year, submit a report on the operations of the Agency in that year to the Minister.

• Marginal note:Comprehensive report

  (2) The President shall, on or before September 15, 1993 and every five years thereafter, submit to the Minister a comprehensive report, in addition to the annual report of the Agency, providing an evaluation of all activities in which the Agency was involved and the impact those activities have had on regional disparity.

• Marginal note:Tabling

  (2.1) The Minister shall cause a copy of the comprehensive report to be laid before each House of Parliament on any of the first fifteen days on which that House is sitting after the Minister receives it.

• Marginal note:Annual report by Minister

  (3) The Minister shall cause to be laid before each House of Parliament, on any of the first fifteen days on which that House is sitting after September 30 next following the end of each fiscal year, a report, including a copy of the annual report submitted to the Minister under subsection (1), on the administration of this Part for that fiscal year.