O. Reg. 109/16: ORDER FOR DISSOLUTION - LOCAL SERVICES BOARD OF MISSANABIESkip to content
|current||April 21, 2016 – (e-Laws currency date)|
Northern Services Boards Act
ORDER FOR DISSOLUTION - LOCAL SERVICES BOARD OF MISSANABIE
Consolidation Period: From April 21, 2016 to the e-Laws currency date.
This Regulation is made in English only.
Dissolution of Board, Board area
1. The Local Services Board of Missanabie and the Board area are hereby dissolved under section 32 of the Act.
Delivery of documents and property
2. Within 30 days after receiving a copy of this order, a member or secretary of the Board who held office at any time from October 1, 2015 to the date of the order, shall deliver to the Ministry of Northern Development and Mines, if required by the Ministry,
(a) all Board documents, records and files, including minute books, by-laws, contracts, bank account records and any other financial books and records under the Board’s care or control;
(b) all property of the Board, including title to any real property;
(c) the Board’s seal; and
(d) a certification in a form approved by the Ministry that all documents and property required by the Ministry that are under the Board’s care or control have been delivered to the Ministry.
3. Within 30 days after receiving a copy of this order, a member or secretary of the Board who held office at any time from October 1, 2015 to the date of the order shall,
(a) close all bank accounts held by or on behalf of the Board;
(b) deliver to the Ministry of Northern Development and Mines a certification that all bank accounts referred to in clause (a) have been closed; and
(c) deliver to the Minister of Finance in the form of a bank draft made out to “Her Majesty the Queen in right of Ontario as represented by the Minister of Finance” all outstanding monies held by or on behalf of the Board or otherwise under the Board’s care or control.
Assets transferred in trust
4. The Board’s assets and liabilities are transferred in trust to the Ministry of Northern Development and Mines.
5. (1) The Ministry of Northern Development and Mines has general supervision of the Board’s assets and the power to do anything reasonably necessary to implement this order effectively, including,
(a) identifying, seizing and disposing of the Board’s assets;
(b) using the proceeds of any sale of assets to make the payments listed in subsection (2);
(c) appointing an agent or trustee to implement the order; and
(d) doing anything else necessary to wind up the Board’s affairs and activities.
(2) The proceeds mentioned in clause (1) (b) shall be used to pay the following, in the following order:
1. The agent or trustee, if any, for costs incurred in dealing with the assets.
2. The Board’s creditors for any outstanding debts owed.
3. The Ministry’s costs in implementing this order.
Records and files to be kept
6. The records and files of the Board shall be kept by the Ministry of Northern Development and Mines for at least seven years from the date of this order.
7. The Ministry of Northern Development and Mines shall publish an invitation to creditors of the Board to inform the Ministry of any claims or debts,
(a) in the Chapleau Express;
(b) in the Wawa News; and
(c) in The Algoma News.