Text Size
A
A
A

Agencies, Boards and Commissions

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

PDF Note: all links below are PDFs and will open in a new window.

Atlantic Lottery Corporation

  • The Atlantic Lottery Corporation opens new window (ALC) was established in 1976 to manage the gaming business on behalf of the governments of Nova Scotia, New Brunswick, Newfoundland and Labrador and Prince Edward Island. The business operations of the ALC are guided by a board of directors, which includes an independent non-voting chair and two representatives from each of the four Atlantic Provinces.

^ Top of Page


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 following annual reports and activity plans:
    Annual Reports Activity Plans

^ Top of Page


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

^ Top of Page


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

^ Top of Page


Newfoundland and Labrador Liquor Corporation

  • The Newfoundland and Labrador Liquor Corporation opens new window is an independent crown agency of Government responsible for managing and overseeing the manufacture, sale and distribution of beverage alcohol. The NLC is overseen by a Board of Directors consisting of a Chair and six other Board members, one of whom is the President. Board members are appointed by the Minister of Finance, normally for a term of three years. The NLC employs approximately 500 employees and operates 24 corporate Liquor Stores located in most major centers throughout the Province.

^ Top of Page


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

^ Top of Page


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:
    Annual Reports Activity Plans

^ Top of Page


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

^ Top of Page


Public Sector Pension Plan Joint Trusteeship Transition Committee

  • The mandate of the Public Sector Pension Plan Joint Trusteeship Transition Committee is to recommend to the relevant parties, a joint pension trust structure to govern the activities of the Public Service Pension Plan (PSPP). Under this arrangement, an independent board of trustees would be responsible for the administration of the PSPP, including the setting of benefits and investment of the Fund. The Committee is presently inactive pending resolution of the unfunded pension liability.

^ Top of Page


Adobe® Acrobat® Reader software can be used for viewing PDF documents. Download Acrobat® Reader for free opens new window

 
Last Updated:
This page and all contents are copyright, Government of Newfoundland and Labrador, all rights reserved.