Atlantic Canada Opportunities Agency Act (R.S.C., 1985, c. 41 (4th Supp.))

Act current to 2016-01-25 and last amended on 2015-02-26. Previous Versions

Marginal note:Contracts binding on Her Majesty
  •  (1) Every contract, memorandum of understanding and arrangement entered into by the Agency in its own name is binding on Her Majesty in right of Canada to the same extent as it is binding on the Agency.

  • Marginal note:Legal proceedings

    (2) Actions, suits or other legal proceedings in respect of any right or obligation acquired or incurred by the Agency, whether in its own name or in the name of Her Majesty, may be brought or taken by or against the Agency in the name of the Agency in any court that would have jurisdiction if the Agency were a corporation that is not an agent of Her Majesty.

 [Repealed, 2014, c. 20, s. 176]

 [Repealed, 2014, c. 20, s. 176]

Regulations

Marginal note:Regulations
  •  (1) The Minister may make regulations

    • (a) specifying programs and projects in addition to those referred to in paragraph 13(c) to improve the business environment in Atlantic Canada;

    • (b) defining, for the purposes of this Part, the expressions “small and medium-sized enterprises”, “project” and “demonstration projects” and the class or classes of small and medium-sized enterprises and of operations and activities eligible for support by the Agency under this Part; and

    • (c) generally for carrying out the purposes and provisions of this Part.

  • Marginal note:Idem

    (2) The Minister may, with the approval of the Minister of Finance, make regulations

    • (a) relating to loans that may be made, guarantees that may be given and loan insurance and credit insurance that may be provided under this Part; and

    • (b) specifying the circumstances in which and the manner in which the Minister may acquire, exercise, assign or sell a stock option obtained as a condition under which a contribution or loan was made, a guarantee given or loan insurance or credit insurance provided under this Part.

  • Marginal note:Designated area regulations

    (3) In order to exploit the opportunities for locally based improvements in productive employment identified in a designated area, regulations specially applicable to that area may be made under the authority of this section that vary from regulations of general application to Atlantic Canada.

Reports

Marginal note:Annual report of Agency
  •  (1) The President shall, within four months after the end of each fiscal year, submit a report on the operations of the Agency in that year to the Minister.

  • (2) and (2.1) [Repealed, 2014, c. 20, s. 177]

  • Marginal note:Annual report by Minister

    (3) The Minister shall cause to be laid before each House of Parliament, on any of the first fifteen days on which that House is sitting after September 30 next following the end of each fiscal year, a report, including a copy of the annual report submitted to the Minister under subsection (1), on the administration of this Part for that fiscal year.

  • R.S., 1985, c. 41 (4th Supp.), s. 21;
  • 1992, c. 1, s. 10;
  • 2014, c. 20, s. 177.

Transitional

Marginal note:Appropriations based on Estimates

 The provisions made by any appropriation Act for the fiscal year in which this section comes into force, based on the Estimates for that year to defray the charges and expenses of the public service of Canada within the Department of Regional Industrial Expansion in relation to any matter in Atlantic Canada to which the powers, duties or functions of the Minister or the Agency extend by law, shall be applied to such classifications of the public service within the Agency as the Governor in Council may determine.

Marginal note:Transfer of powers, duties and functions

 Wherever under any Act, order, rule or regulation, or any contract, lease, licence or other document, any power, duty or function is vested in or exercisable by the Minister of Regional Industrial Expansion, the Deputy Minister of Regional Industrial Expansion or any other officer of the Department of Regional Industrial Expansion in relation to any matter in Atlantic Canada to which the powers, duties or functions of the Minister or of the Agency extend by law, the power, duty or function is vested in and shall be exercised by the Minister, the President or the appropriate officer of the Agency, as the case may be, unless the Governor in Council by order designates another Minister, deputy minister or officer of a department or a portion of the public service of Canada to exercise that power, duty or function.

Marginal note:Deemed appointment

 Every indeterminate employee in the public service of Canada who is transferred to a position in the Agency from the public service of Canada within ninety days after the day on which this section comes into force is deemed to have been appointed to the Agency in accordance with subsection 15(1).

 
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