6AProvision of financial assistance to constitutional corporations

6A Provision of financial assistance to constitutional corporations

Applications (1) A constitutional corporation may apply to the Council for financial assistance. (2) The Council must consider an application made under subsection (1) within a reasonable period after the application is made. (3) The Council may provide financial assistance in the performance of its functions to a constitutional corporation only if the corporation has applied to the Council for the assistance under subsection (1). Terms and conditions (4) If the Council decides to provide financial assistance to a constitutional corporation: (a) the terms and conditions on which the assistance is to be provided must be set out in a written agreement between the Council and the corporation; and (b) the corporation must comply with the terms and conditions. (5) Without limiting subsection (4), the terms and conditions must provide for the circumstances in which the corporation must repay amounts of financial assistance or any other amounts to the Council. (6) An amount payable to the Council under the agreement: (a) is a debt due to the Council; and (b) may be recovered by the Council in a court of competent jurisdiction.