O. Reg. 394/01: APPLES - DISSOLUTION OF LOCAL BOARD

 

ONTARIO regulation 394/01

made under the

farm products marketing act

Made: October 17, 2001
Filed: October 19, 2001
Printed in The Ontario Gazette: November 3, 2001

APPLES — Dissolution of Local board

1. In this Regulation,

“Commission” means the Ontario Farm Products Marketing Commission;

“local board” means The Ontario Apple Marketing Commission.

2. The Commission is empowered to carry out any or all of the powers of the local board.

3. All assets of the local board are vested in the Commission.

4. The Commission shall dispose of the assets vested in it under section 3 and shall collect the accounts receivable of the local board in such manner as it considers is most likely to achieve the greatest net financial return.

5. Despite section 4, the Commission may retain for its own use all files, correspondence, minute books and other records and documents of the local board as it considers proper.

6. Upon the revocation of Regulation 388 of the Revised Regulations of Ontario, 1990, the local board is dissolved.

7. It is a condition of the dissolution of the local board that, prior thereto, the Commission,

(a) prepare and submit to the Minister a complete statement showing,

(i) the disposition of all assets of the local board, the persons who received such assets and the amounts of money received for such assets,

(ii) any assets not disposed of by the Commission,

(iii) any accounts receivable owing to the local board and not collected by the Commission and the reasons for non-collection, and

(iv) in detail, the outstanding liabilities of the local board; and

(b) subject to the approval of the Minister, and after submission of the statement referred to in clause (a), pay, out of the moneys received on disposition of assets and such other moneys as may be made available to the Commission for the purpose, all outstanding liabilities of the local board.

8. In carrying out its powers and duties under this Regulation, the Commission may tender or accept receipts either in its own name or in the name of the local board.

9. Nothing in section 7 prohibits payment by the Commission of any debt of the local board on the date such payment is due.