STU
NL · WorkplaceNL Act (injury compensation) · Article 12 · clause 12 · SNL2022 c W-11.1

PART I THE WORKPLACE HEALTH, SAFETY AND COMPENSATION COMMISSION — Financial power

12

(1) The commission may

12(a)

invest funds arising under this Act and other money under its control and sell securities and reinvest the proceeds or use the proceeds for other purposes authorized by this Act;

12(b)

place its funds and money on deposit in a chartered bank; and

12(c)

with the approval of the Minister of Finance, borrow, by way of overdraft or otherwise, from a chartered bank amounts that, in the opinion of the commission, may be considered expedient for the proper carrying out of this Act.

12(2)

The funds, investments and income of the commission are free from taxation.

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