BILL 40
An Act to Amend the Higher
Education Foundation Act
Her Majesty, by and with the advice and
consent of the Legislative Assembly of New Brunswick, enacts as follows:
1 Section
1 of the Higher Education Foundation Act, chapter H-4.1 of the Acts
of New Brunswick, 1992, is amended
(a) by repealing the definition “institution”
and substituting the following:
“institution” means a community
college, an educational institution or a university; (établissement)
(b) in the definition « fondation »
in the French version by striking out “établie” and
substituting “constituée”.
2 Section
2 of the Act is repealed and the following is substituted:
Establishment and continuance
of foundations
2(1)
One or more foundations may be established by regulation for one institution
or for 2 or more institutions.
2(2)
A foundation may be continued by regulation for one institution or
for 2 or more institutions.
3 Section
3 of the Act is amended
(a) in paragraph (a) by striking
out “the institution,” and substituting “the
institution or institutions,”;
(b) by repealing paragraph (c) and
substituting the following:
(c) to encourage, facilitate and carry out
programs and activities that will directly or indirectly increase
the financial support of or confer a benefit on the institution or
institutions, and
(c) by repealing paragraph (d) and
substituting the following:
(d) to make grants and gifts to the institution
or institutions in support of the programs and activities of the institution
or institutions.
4 Section
7 of the Act is amended
(a) by repealing subsection (1) and
substituting the following:
7(1)
A foundation established or continued for one institution consists
of a board of 5 trustees composed of:
(a) three trustees appointed by the Lieutenant-Governor
in Council on the recommendation of the institution; and
(b) two trustees appointed by the Lieutenant-Governor
in Council.
(b) by adding after subsection (1)
the following:
7(1.1)
A foundation established or continued for 2 or more institutions consists
of a board of trustees composed of:
(a) those trustees appointed by the Lieutenant-Governor
in Council on the recommendation of the institutions; and
(b) two trustees appointed by the Lieutenant-Governor
in Council.
7(1.2) Each institution shall recommend
a minimum of one person and a maximum of 3 persons for the purpose
of paragraph (1.1)(a).
(c) in subsection (3) by striking
out “paragraph (1)(b)” and substituting “paragraph
(1)(b) or (1.1)(b)”;
(d) in subsection (4) of the English
version by striking out “five” and substituting “5”;
(e) by repealing subsection (5) and
substituting the following:
7(5)
A board of trustees of a foundation referred to in subsection (1)
may exercise its powers as long as there are at least 3 trustees in
office.
(f) by adding after subsection (5)
the following:
7(5.1)
A board of trustees of a foundation referred to in subsection (1.1)
may exercise its powers as long as there is at least one trustee recommended
by each institution in office and no fewer than 3 trustees in total.
5 Section
12 of the Act is amended
(a) by repealing subsection (2) and
substituting the following:
12(2)
Subject to subsection (3), an auditor appointed for a foundation shall
be
(a) the Auditor General, or
(b) a practising public accountant acceptable
to the Minister.
(b) by repealing subsection (3) and
substituting the following:
12(3)
An auditor appointed for a foundation established or continued for
a university or for a university and another institution shall be
a practising public accountant acceptable to the Minister.
(c) by repealing subsection (4) and
substituting the following:
12(4)
The expenses of an audit conducted by an auditor referred to in paragraph
(2)(b) or subsection (3) are payable by the foundation as part of
the costs of administration of the foundation.
6 Subsection
19(1) is amended
(a) in paragraph a) of the French
version by striking out “établissant” and substituting “constituant”;
(b) by adding after paragraph (a)
the following:
(a.1) continuing foundations established for
the purposes of this Act;
(a.2) providing for the transition of an existing
foundation to a foundation that is continued;
(a.3) providing for the transition of an existing
foundation to a new foundation;
7 Schedule
B of the Act is amended by striking out
New Brunswick Community
College/Collège communautaire du Nouveau-Brunswick
and substituting
Collège communautaire du Nouveau-Brunswick
(CCNB)
New Brunswick Community College (NBCC)
TRANSITIONAL PROVISIONS AND COMMENCEMENT
Transition for continued foundations
8 Despite subsections 7(1.1) and (5.1)
of the Higher Education Foundation Act, for a period of 6 months after
the commencement of this section, the board of trustees of a foundation
that was established for one institution and continued under the regulations
as a foundation for 2 or more institutions may exercise its powers
as long as there are at least 3 trustees in office.
Commencement
9 This Act or any provision of it comes into
force on a day or days to be fixed by proclamation.