AI-assisted research summary: This regulation sets a nominating committee process for the board and limits when the Arts Board may make equity investments.
1 ARTS BOARD A-28.001 REG 1 The Arts Board Regulations being Chapter A-28.001 Reg 1 (effective April 1, 1998). NOTE: This consolidation is not official. Amendments have been incorporated for convenience of reference and the original statutes and regulations should be consulted for all purposes of interpretation and application of the law. In order to preserve the integrity of the original statutes and regulations, errors that may have appeared are reproduced in this consolidation. 2 A-28.001 REG 1 ARTS BOARD Table of Contents 1 Title 2 Interpretation 3 Nominating committee 4 Equity investments 3 ARTS BOARD A-28.001 REG 1 CHAPTER A-28.001 REG 1 The Arts Board Act, 1997 Title 1 These regulations may be cited as The Arts Board Regulations. Interpretation 2 In these regulations: (a) “Act” means The Arts Board Act, 1997; (b) “fiscal year” means the period commencing on April 1 in one year and ending on March 31 in the following year. 9 Apr 98 cA-28.001 Reg 1 s2. Nominating committee 3(1) For the purpose of subsections 14(2) and (3) of the Act, the board of directors shall establish a nominating committee, to be composed of the following members: (a) two persons from the arts community, appointed by the arts community; (b) one member of the board of directors, appointed by the board of directors; (c) one person appointed by the minister, who shall not be a member of the board of directors. (2) The nominating committee shall: (a) solicit and receive nominations from the arts community for appointment to the board of directors; and (b) within 30 days after requested to do so by the minister, provide the minister with a list of the nominees. 9 Apr 98 cA-28.001 Reg 1 s3. Equity investments 4(1) For the purposes of subsection 24(2) of the Act, subject to subsections (2) and (3), the Arts Board may invest in the following classes of equity investments where the Arts Board acquires an ownership interest in the personal property resulting from the arts project or undertaking: (a) arts projects or undertakings carried out by an individual who has resided in Saskatchewan for the 12 months preceding the application to the Arts Board for funding; 4 A-28.001 REG 1 ARTS BOARD (b) arts projects or undertakings carried out by a body corporate that has its head office in Saskatchewan and is incorporated or continued pursuant to one of the following Acts: (i) The Business Corporations Act; (ii) The Non-profit Corporations Act, 1995; (iii) The Co-operatives Act, 1989. (2) The Arts Board shall not make any equity investment for the purpose of retiring the debt of the applicant. (3) The maximum amount that the Arts Board invests in equity investments in any fiscal year shall not exceed 10% of the Art Board’s appropriation from the Legislature for that fiscal year. 9 Apr 98 cA-28.001 Reg 1 s4. REGINA, SASKATCHEWAN Printed by the authority of THE QUEEN’S PRINTER Copyright©1998