Atlantic Fisheries Restructuring Act (R.S.C., 1985, c. A-14)
Full Document:
Act current to 2012-05-02
Atlantic Fisheries Restructuring Act
R.S.C., 1985, c. A-14
An Act to authorize investment in and the provision of financial assistance to the Atlantic Fisheries for the purpose of restructuring fishery enterprises
Preamble
WHEREAS a task force was established by the Government of Canada to study the Atlantic Fisheries with a view to recommending means of establishing and maintaining viable fishery enterprises on the Atlantic coast of Canada taking into account the economic and social development of the provinces concerned;
AND WHEREAS the Government of Canada adopted the recommendations of the task force with respect to objectives of Atlantic Fisheries policy to the effect, in order of priority, first, that the Atlantic fishing industry be economically viable on an on-going basis, second, that employment in that industry be maximized subject to the constraint that those employed receive a reasonable income and third, to the extent that this objective is consistent with the first two objectives and with Canada’s international treaty obligations, that fish on the Atlantic coast of Canada be harvested and processed by Canadians;
AND WHEREAS the Government of Canada, recognizing that the Atlantic fish stocks are a vital national resource but that the present condition of the fishing industry does not permit the fullest and most efficient utilization of that resource, is of the opinion that it is urgently required and in the public interest that fishery enterprises be restructured;
AND WHEREAS representatives of the Government of Canada have held discussions with others with respect to the means by which such restructuring may be effected;
NOW, THEREFORE, Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
SHORT TITLE
Marginal note:Short title
1. This Act may be cited as the Atlantic Fisheries Restructuring Act.
- 1980-81-82-83, c. 172, s. 1.
INTERPRETATION
Marginal note:Definitions
2. In this Act,
“Atlantic Fisheries”
« secteur des pêches »
“Atlantic Fisheries” means all the activities relating to the harvesting, processing and marketing of fish in the Provinces of Quebec, Nova Scotia, New Brunswick, Prince Edward Island and Newfoundland and in the fishing zones of Canada, as defined pursuant to subsection 4(1) of the Territorial Sea and Fishing Zones Act, on the Atlantic coast of Canada;
“control”
« contrôle »
“control”, in respect of a body corporate, means
(a) control in any manner that results in control in fact, whether directly through the ownership of shares, stocks, equities or securities or indirectly through a trust, a contract, the ownership of shares, stocks, equities or securities of another body corporate or otherwise, or
(b) the ability to appoint, elect or cause the appointment or election of a majority of the directors of the body corporate, whether or not that ability is exercised;
“fishery enterprise”
« entreprise »
“fishery enterprise” means any person that is engaged directly or indirectly in, or controls or is controlled by a person that is engaged directly or indirectly in, the Atlantic Fisheries;
“Minister”
« ministre »
“Minister” means the Minister of Fisheries and Oceans;
“person”
« personne »
“person” includes an individual, a body corporate, a partnership, an association, a trust, a cooperative and any trustee or legal representative thereof;
“restructuring”
« restructuration »
“restructuring”, in respect of a fishery enterprise, includes the reorganization, refinancing, modernization, rationalization and expansion of the enterprise, and any similar activity directed toward improving the economic performance of the enterprise.
- 1980-81-82-83, c. 172, s. 2.