O. Reg. 662/05: ORDER FOR DISSOLUTION - LOCAL SERVICES BOARD OF BOURKESSkip to content
|revoked or spent October 26, 2009|
|December 16, 2005 – October 25, 2009|
Northern Services Boards Act
Loi sur les régies des services publics du Nord
ONTARIO REGULATION 662/05
ORDER FOR DISSOLUTION — LOCAL SERVICES BOARD OF BOURKES
Note: This Regulation was revoked on October 26, 2009. See: O. Reg. 400/09, ss. 1, 2.
Last amendment: O. Reg. 400/09.
This Regulation is made in English only.
Dissolution of Board, Board area
1. The Local Services Board of Bourkes and the Board area are hereby dissolved under section 32 of the Act. O. Reg. 662/05, s. 1.
Assets held in trust to be sold
2. (1) The Board’s assets and liabilities are transferred in trust to the Ministry of Northern Development and Mines to be disposed of by sale. O. Reg. 662/05, s. 2 (1).
(2) The Ministry, its agent or trustee shall dispose of the Board’s assets and shall use the proceeds of sale, first to reimburse its agent or trustee for costs incurred in dealing with the assets, then to reimburse the Board’s creditors and finally to cover the costs incurred by the Ministry in implementing this order. O. Reg. 662/05, s. 2 (2).
(3) The Ministry shall publish an invitation to creditors of the Board to inform the Ministry of any claims or debts and shall do so in local newspapers in Timmins, Matheson-Black River, Iroquois Falls, Kirkland Lake and in other communities, as may be considered appropriate. O. Reg. 662/05, s. 2 (3).
3. (1) The Ministry has general supervision of the Board’s assets and the power to do anything reasonably necessary to implement this order effectively, including taking all actions necessary to identify, seize and dispose of the Board’s assets, to identify creditors and use the proceeds of the sale of assets to settle Board debts, to appoint an agent or trustee and to otherwise wind up the Board’s affairs and activities. O. Reg. 662/05, s. 3 (1).
(2) For the purposes of subsection (1), all Board documents, records and files, including minute books, bank account records and other financial books and records, shall be turned over to the Ministry upon request. O. Reg. 662/05, s. 3 (2).
Records and files to be kept
4. The records and files of the Board shall be kept by the Ministry for at least seven years from the date of this order. O. Reg. 662/05, s. 4.