(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).