25Approval of guidelines for financial assistance in excess of $15 million

25 Approval of guidelines for financial assistance in excess of $15 million

(1) The Board must give to the Minister, for his or her approval: (a) guidelines for a grant program referred to in subsection 24(2); and (b) any variation of such guidelines, unless the variation is of a minor nature (a minor variation); and (c) any revocation of such guidelines.

Note: Grants totalling more than $50 million for a particular project must be approved by the Minister under section 12.

(2) If the Board makes a minor variation, the Board must inform the Minister of the variation. (3) Guidelines, or a variation or revocation, referred to in subsection (1) come into force at the later of the following times: (a) the time when the Minister approves the guidelines, or the variation or revocation (unless the variation is a minor variation); (b) the commencement time specified in the instrument making, varying or revoking the guidelines (not being a time before the instrument is made).