Marginal note:Agent of Her Majesty
40. Except as provided in subsection 41(1), the Corporation is, for all purposes of this Part, an agent of Her Majesty in right of Canada.
Marginal note:Persons employed not servants of Her Majesty
41. (1) Persons employed by the Corporation pursuant to subsection 32(1) are not officers or servants of Her Majesty.
Marginal note:Application of Aeronautics Act
(2) For the purpose of any regulation made pursuant to section 9 of the Aeronautics Act, the officers and employees of the Corporation shall be deemed to be employed in the federal public administration.
- R.S., 1985, c. 41 (4th Supp.), s. 41;
- 2003, c. 22, s. 224(E).
Marginal note:Payments in lieu of taxes
42. (1) The Corporation may make grants in lieu of taxes to any municipality on Cape Breton Island not exceeding the taxes that might be levied by the municipality on the Corporation if the Corporation were not an agent of Her Majesty.
Marginal note:General expenditures
(2) All expenditures of the Corporation for the payment of which no other provision is made by this Part shall be paid out of moneys appropriated by Parliament therefor.
Marginal note:Annual report
43. The Corporation shall submit a copy of each annual report of the Corporation prepared in accordance with section 150 of the Financial Administration Act to the Lieutenant Governor in Council of Nova Scotia.
44. (1) The Cape Breton Development Corporation Act and sections 27 to 43 of this Part shall be construed as if the Industrial Development Division of the Cape Breton Development Corporation were a separate corporation, in this section referred to as the “continued corporation”, continued as the Enterprise Cape Breton Corporation, in this section referred to as the “new corporation”, established by section 27 of this Part.
Marginal note:Directors and officers
(2) For the purposes of this section, the members of the Board of Directors of the continued corporation shall be deemed to have resigned immediately before the corporation was continued, and the President of the Cape Breton Development Corporation shall be deemed not to have been an officer or director of the continued corporation.
(3) The by-laws of the Cape Breton Development Corporation that are in force on the coming into force of this section shall, to the extent they are applicable, be deemed to have been the by-laws of the continued corporation but those by-laws shall cease to have effect as the by-laws of the new corporation sixty days after the coming into force of this section.
(4) The President of the Treasury Board, the Minister and the minister responsible for Cape Breton Development Corporation may, by order, give such directions as they deem necessary to give effect to the intent of this section, and any such directions have the force of law.
Marginal note:Transfer of property
(5) For greater certainty, the administration and control of all property that, on the coming into force of this section, is held by or leased to the Cape Breton Development Corporation for the use or benefit of the continued corporation are transferred to the new corporation.
Marginal note:Certain provisions not to apply
(6) Sections 90, 91 and 99 of the Financial Administration Act do not apply in respect of any transfer of assets, including shares, from the Cape Breton Development Corporation to the new corporation under or pursuant to this Part, and section 91 of that Act does not apply in respect of any acquisition by the new corporation of those assets.
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