Specific Economic Development Initiatives. The Minister from a provincial or territorial Participating Jurisdiction may request the Board of Directors of the CMRA to consult on and consider making a regulation to accommodate provincial or territorial government programs that relate to specific economic development initiatives within his or her provincial or territorial Participating Jurisdiction subject to the consultation and approval processes that apply to the making of regulations. The Board of Directors shall approve the request provided that the proposed regulation will not, in the opinion of the Board of Directors, adversely affect the fundamental principles of the CMRA, affect market participants or investors in other jurisdictions or involve other matters of national importance. If the costs of administering that regulation are material, the CMRA may require reimbursement from the provincial or territorial Participating Jurisdiction. A regulation made under this section by the Board of Directors of the CMRA will require the approval of the Minister from the provincial or territorial Participating Jurisdiction to which the regulation relates before it comes into force.
Specific Economic Development Initiatives. The Minister from a provincial Participating Jurisdiction may request the board of directors of the CMR to consult on, develop and consider making a regulation to accommodate provincial government programs that relate to specific economic development initiatives within his or her provincial Participating Jurisdiction subject to the consultation and approval processes that apply to the making of regulations. The board of directors shall approve the request provided that the proposed regulation would not, in the opinion of the board of directors, adversely affect the fundamental principles of the CMR, affect market participants or investors in other jurisdictions or involve other matters of national importance. If the costs of administering that regulation are material, the CMR may require reimbursement from the provincial Participating Jurisdiction. A regulation made under this section by the board of the CMR would require the approval of the Minister from the provincial Participating Jurisdiction to which the regulation relates before it came into force.
