A-6.001 - Financial Administration Act

Section 77.2 Disposition versions

2008-12-15

77.2. A body may not make an investment unless the investment is authorized by the Minister responsible for the administration of the Act governing the body and its nature, terms and conditions are authorized by the Minister of Finance.

The first paragraph does not apply if the investment must, by law, be authorized or approved by the Government or if it is made as part of an economic development project or to provide financial assistance or in any other case determined by regulation.

Moreover, the authorization of the Minister of Finance or that of the Minister responsible for the administration of the Act governing the body is not required, or neither are required, as the case may be, in the cases and subject to the terms and conditions determined by the Government in a regulation for each such authorization. The provisions of the regulation may apply in whole or in part to one or more bodies and may specify the applicable categories of investments.

2007, c. 41, s. 2.