Agencies, Boards and Commissions

The following entities are considered to be within the purview of the Minister of Finance:

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Atlantic Lottery Corporation

  • The Atlantic Lottery Corporation (ALC) provides safe and responsible products for those Atlantic Canadians who choose to participate in lottery games.  It is owned by the four Atlantic provincial governments and is governed by a Board of Directors, with each province appointing up to three Directors, for a maximum of 12 members.

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Newfoundland and Labrador Government Money Purchase Pension Plan Committee

  • The Government Money Purchase Pension Plan Committee oversees the operations of the Government Money Purchase Pension Plan (a capital accumulation plan where retirement benefits are directly related to the amount of contributions and the income earned on those contributions throughout a plan member’s career). Committee members are responsible to ensure that contributions accumulated to the credit of the employee are invested prudently in the investment classes prescribed by the Committee and to promote the plan and educate employees on the importance of taking an active interest in their investments. Further information is available in the below annual reports and activity plans:
    Annual Reports Activity Plans

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Newfoundland and Labrador Government Sinking Fund – Board of Trustees

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Newfoundland and Labrador Industrial Development Corporation

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Newfoundland and Labrador Liquor Corporation

  • The Newfoundland and Labrador Liquor Corporation (NLC) is an independent crown agency of Government governed by a Board of Directors appointed by the Lieutenant-Governor in Council.  It is responsible for the importation, sale and distribution of beverage alcohol in Newfoundland and Labrador, as well as overseeing the sale and distribution of non-medical cannabis.

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Newfoundland and Labrador Municipal Financing Corporation

  • The Newfoundland and Labrador Municipal Financing Corporation (NMFC) was established to consolidate the long-term borrowing programs of all municipalities in one central Crown agency. The proceeds of these borrowings were then used to provide long-term financing to meet the capital requirements of municipalities. Most municipalities are now capable of financing their capital programs independently through financial institutions. Therefore in 2005-06, Government decided it would no longer finance its portion of municipal capital projects but would fund it directly through annual budgetary allocations. Consequently, the NMFC has discontinued its capital markets borrowing program and is will wind up its operations upon collection of outstanding loans receivable and repayment of outstanding debenture debt. Further information is available in the following annual reports and activity plans:
    Annual Reports Activity Plans

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Newfoundland Government Fund Limited – Board of Directors

  • The Board of Directors of the Newfoundland Government Fund Limited (NGFL) is responsible for overseeing the investment activities of the NGFL, which is a Government-administered venture capital fund established under the authority of the Immigration Act (Canada). Its purpose is to raise funds from immigrant investors in order to provide loan and equity capital to establish, expand, or revitalize businesses or commercial ventures in the Province, particularly where there are opportunities to partner with private sector companies for the provision of services and facilities traditionally provided by the public sector. For immigrant investors, in addition to earning a nominal return on their capital, their investment in NGFL helped satisfy a portion of the visa requirements under Canada’s Immigrant Investors Program. Further information is available in the following annual reports and activity plans:

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Pension Investment Committee

  • The Pension Investment Committee (PIC) advises the Minister of Finance, as Trustee, on the operation and the investment of the Province of Newfoundland and Labrador Pooled Pension Fund (the Fund).The Fund was established to finance benefits under the various Government-sponsored pension plans, including the Public Service Pension Plan, the Teachers’ Pension Plan,the Uniformed Services Pension Plan, the Members of the House of Assembly Pension Plan and the Provincial Court Judges’ Pension Plan.The PIC is also responsible for overseeing the activities of the Newvest Realty Corporation, which was established to facilitate the Fund’s investment in real estate. Further information is available in the following annual reports and activity plans:
    Annual Reports Activity Plans
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