Economic Action Plan 2014 Act, No. 1 (S.C. 2014, c. 20)

Assented to 2014-06-19

Marginal note:2001, c. 25, s. 75

 Subsection 138(2) of the Act is replaced by the following:

  • Marginal note:Application procedure

    (2) A person may apply for a decision by giving notice to the Minister in writing or by any other means that is satisfactory to the Minister.

Division 9Atlantic Canada Opportunities Agency

R.S., c. 41 (4th Supp.), Part IAtlantic Canada Opportunities Agency Act

 The definition “Board” in section 3 of the Atlantic Canada Opportunities Agency Act is repealed.

Marginal note:1995, c. 29, ss. 2(1) and (2)(E) and s. 3; 2002, c. 17, s. 4

 The heading before section 18 and sections 18 and 19 of the Act are repealed.

Marginal note:1992, c. 1, s. 10

 Subsections 21(2) and (2.1) of the Act are repealed.

Dissolution of Board

Marginal note:Appointments terminated
  •  (1) The members of the Atlantic Canada Opportunities Board, established by section 18 of the Atlantic Canada Opportunities Agency Act, cease to hold office on the day on which this Division comes into force.

  • Marginal note:No compensation

    (2) Despite the provisions of any contract, agreement or order, no person who is appointed to hold office as a member of that Board has any right to claim or receive any compensation, damages, indemnity or other form of relief from Her Majesty in right of Canada or from any employee or agent of Her Majesty for ceasing to hold that office or for the abolition of that office by operation of this Division.

Division 10Enterprise Cape Breton Corporation

Dissolution

Marginal note:Definitions

 The following definitions apply in sections 180 to 186.

“Agency”

« Agence »

“Agency” means the Atlantic Canada Opportunities Agency established by section 10 of the Atlantic Canada Opportunities Agency Act.

“Corporation”

« Société »

“Corporation” means the Enterprise Cape Breton Corporation continued under section 27 of the Enterprise Cape Breton Corporation Act.

“Minister”

« ministre »

“Minister” means the Minister as defined in section 3 of the Atlantic Canada Opportunities Agency Act.

Marginal note:Dissolution

 The Corporation is dissolved on the day on which this Division comes into force.

Marginal note:Transfer of assets and obligations
  •  (1) On the day on which this Division comes into force,

    • (a) the Corporation’s assets and those of its subsidiaries, other than the real property described in paragraph (c), are transferred to the Agency;

    • (b) the Corporation’s obligations and those of its subsidiaries, other than those described in paragraph (d), are assumed by the Agency;

    • (c) the administration of all real property in which the Corporation has any right, title or interest is transferred to the Minister of Public Works and Government Services; and

    • (d) the Corporation’s obligations and those of its subsidiaries to former employees of the Cape Breton Development Corporation established by the Cape Breton Development Corporation Act that were acquired by the Corporation or its subsidiaries on December 31, 2009 are assumed by Her Majesty in right of Canada as represented by the Minister of Public Works and Government Services.

  • Marginal note:Credits transferred  — Department of Public Works and Government Services

    (2) Any money that is appropriated by an Act of Parliament, for the fiscal year in which this Division comes into force, to defray any of the Corporation’s expenditures related to any real property described in paragraph (1)(c) and any of the Corporation’s expenditures related to any of its obligations described in paragraph (1)(d), and that is unexpended, is deemed to have been appropriated to defray any expenditures of the Department of Public Works and Government Services.

  • Marginal note:Credits transferred  — Agency

    (3) Any money, other than the money referred to in subsection (2), that is appropriated by an Act of Parliament, for the fiscal year in which this Division comes into force, to defray any of the Corporation’s expenditures, and that is unexpended, is deemed to have been appropriated to defray any of the Agency’s expenditures.

Marginal note:Appointment to Agency
  •  (1) Despite subsection 15(1) of the Atlantic Canada Opportunities Agency Act, every employee of the Corporation or of any of its subsidiaries, other than an employee described in subsection (2), is deemed, on the day on which this Division comes into force, to be a person appointed under the Public Service Employment Act to a position in the Agency and to be an employee as defined in subsection 2(1) of the Public Service Employment Act.

  • Marginal note:Appointment to Department of Public Works and Government Services

    (2) Every employee of the Corporation or of any of its subsidiaries whose functions relate to any real property or obligations described in paragraph 181(1)(c) or (d), as the case may be, is deemed, on the day on which this Division comes into force, to be a person appointed under the Public Service Employment Act to a position in the Department of Public Works and Government Services and to be an employee as defined in subsection 2(1) of that Act.

  • Marginal note:Employees

    (3) Every employee referred to in subsection (1) or (2) is entitled

    • (a) to receive in the position referred to in subsection (1) or (2) the same rate of pay that they were receiving as an employee of the Corporation or of any of its subsidiaries for as long as that rate of pay is higher than the rate of pay provided for by the terms and conditions of employment that apply or the terms and conditions of employment set out in the collective agreement that applies, as the case may be, to that position;

    • (b) to retain any vacation and sick leave credits that they had earned during their employment at the Corporation or at any of its subsidiaries; and

    • (c) to be credited with their accumulated years of service at the Corporation, at a subsidiary of the Corporation or at the Cape Breton Development Corporation established by the Cape Breton Development Corporation Act, for the purpose of determining their annual vacation entitlement in the public service.

    In all other respects, the employee is governed by the terms and conditions of employment that apply or the terms and conditions of employment set out in the collective agreement that applies, as the case may be, to that position.

Marginal note:Appointments terminated
  •  (1) The members of the Board of Directors of the Corporation cease to hold office on the day on which this Division comes into force.

  • Marginal note:No compensation

    (2) Despite the provisions of any contract, agreement or order, no person who is appointed to hold office as a member of the Corporation’s Board of Directors, except the Chief Executive Officer, has any right to claim or receive any compensation, damages, indemnity or other form of relief from Her Majesty in right of Canada or from any employee or agent of Her Majesty for ceasing to hold that office or for the abolition of that office by the operation of this Division.

Marginal note:Provisions not applicable

 Subsections 91(1) and (3) of the Financial Administration Act do not apply in respect of the dissolution of, or the sale or other disposal of the assets of, any of the Corporation’s subsidiaries.

Marginal note:Closing out affairs

 After the Corporation is dissolved, the Minister may do any thing and perform any act that is necessary for or incidental to closing out the Corporation’s affairs and those of its subsidiaries.

Marginal note:Continuation of legal proceedings

 Any action, suit or other legal proceeding to which the Corporation or any of its subsidiaries is party that is pending in any court on the day on which this Division comes into force may be continued by or against Her Majesty in right of Canada in the same manner and to the same extent as it could have been continued by or against the Corporation or subsidiary, as the case may be.

R.S., c. 41 (4th Supp.), Part IAtlantic Canada Opportunities Agency Act

Marginal note:2002, c. 17, s. 3

 Paragraph 13(h.1) of the Atlantic Canada Opportunities Agency Act is replaced by the following:

  • (h.1) acquire the assets and assume the obligations of the Enterprise Cape Breton Corporation or any of that Corporation’s subsidiaries;

  • (h.2) in respect of any security interest that it acquires from the Enterprise Cape Breton Corporation or any of that Corporation’s subsidiaries and that was held by that Corporation or any of those subsidiaries in respect of a loan, investment or agreement that was acquired by that Corporation or any of those subsidiaries,

    • (i) hold any security interest,

    • (ii) surrender any security interest,

    • (iii) realize any security interest, or

    • (iv) exchange, sell, assign or otherwise dispose of any security interest;

  • (h.3) hold or exercise, or surrender, sell, assign or otherwise dispose of, a stock option, share or other similar financial instrument that it acquires from the Enterprise Cape Breton Corporation or any of that Corporation’s subsidiaries;

  • (h.4) do all things, other than those mentioned in paragraphs (h.2) and (h.3), that are necessary for or incidental to the administration, management, control or disposal of the assets and obligations that it acquires or assumes from the Enterprise Cape Breton Corporation or any of that Corporation’s subsidiaries; and

 
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