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 Sinking Fund – Board of Trustees

  • The Newfoundland and Labrador Government Sinking Fund was created pursuant to the Financial Administration Act to consolidate and administer sinking funds established for the repayment of the Province’s debenture debt. The Board of Trustees of the Newfoundland and Labrador Consolidated Sinking Funds manages and controls the day to day operation of these sinking funds. Further information is available in the following annual reports and activity plans:
Annual Reports Activity Plans

Newfoundland and Labrador Government Sinking Fund – Board of Trustees Archive

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Newfoundland and Labrador Industrial Development Corporation

The Newfoundland and Labrador Industrial Development Corporation (NIDC) was established in 1967 to provide long-term financing to industrial and resource based projects. This is primarily achieved by entering into commercial investments or other financial arrangements. In recent years however the NIDC has been relatively inactive because most investment activity has been undertaken either directly by the Province or through other Crown Corporations. Further information is available in the following annual reports and activity plans:

Annual Reports Activity Plans

Newfoundland and Labrador Industrial Development Corporation Archive

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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

Newfoundland and Labrador Municipal Financing Corporation Archive

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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:

Newfoundland Government Fund Limited – Board of Directors Archive

 

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