Marginal note:Corporation established

3. There is hereby established a corporation to be known as the Corporation for the Mitigation of Mackenzie Gas Project Impacts.

Marginal note:Corporation not agent of Her Majesty

4. The Corporation is not an agent of Her Majesty in right of Canada.

Marginal note:Objects and purposes of Corporation

• 5. (1) The objects and purposes of the Corporation are to provide contributions to regional organizations with respect to projects described in subsection (2).

• Marginal note:Eligible project

  (2) The Corporation may only provide contributions to regional organizations in respect of a project if the project

  • (a) mitigates the existing or anticipated socio-economic impacts on communities in the Northwest Territories arising from the Mackenzie gas project; and

  • (b) is consistent with criteria established and made publicly available by the Corporation.

Marginal note:Capacity

6. In carrying out its objects and purposes, the Corporation has the capacity and, subject to this Act, the rights, powers and privileges of a natural person.

Marginal note:Head office

7. The head office of the Corporation shall be in a place in Canada designated by the Governor in Council.

Marginal note:Acts not applicable to Corporation

8. The Canada Corporations Act, chapter C-32 of the Revised Statutes of Canada, 1970, and the Canada Not-for-profit Corporations Act do not apply to the Corporation.

Marginal note:Board of directors

9. There shall be a board of directors consisting of either three or five persons, including the person appointed as chairperson.

Marginal note:Notice of appointment

• 10. (1) The Minister shall provide notice to the regional organizations at least one month before appointing the first director, other than the chairperson, under section 105 of the Financial Administration Act and each successor of that director.

• Marginal note:Nominees of regional organizations

  (2) The regional organizations, on receiving the notice, may provide the Minister with a list of nominees for the appointment. The Minister shall consider the nominees before making the appointment.

• Marginal note:Eligibility for directors

  (3) A person is not eligible to be appointed as a director if the person

  • (a) is a member of the Senate, the House of Commons or the legislature of a province;

  • (b) is an employee or agent of Her Majesty in right of Canada or in right of a province;

  • (c) does not ordinarily reside in Canada; or

  • (d) is disqualified under subsection 105(1) of the Canada Business Corporations Act.

• Marginal note:Limitation

  (4) Until all directors are appointed, the Corporation shall not provide any contributions or enter into any agreements or arrangements, or review any applications, for or in respect of contributions.