Cooperative Agreements with Province
56 (1) The Minister may enter into cooperative agreements with the authorities of any province for the purpose of providing that owners of water privileges under provincial jurisdiction shall bear a due share in the cost of any storage and regulating works undertaken under section 55, of any annual charges arising out of the construction of such works, and of rentals for the additional flowage created.
(2) Subject to approval by the Governor in Council and, where required, with the assent and cooperation of the proper provincial authorities, the Minister may specify the conditions under which owners of irrigation, logging, navigation or other interests upon the stream that are benefited by regulating or storage works shall be required to share with the water-power interests the cost and charges arising under this section.
57 (1) Where the Minister deems it advisable and at any time during the term of a licence, he may cause a reappraisal of the value of the lands, works and properties held by a licensee in respect of his undertaking.
(2) The basis for a reappraisal made pursuant to subsection (1) is the actual cost of the properties determined as set out in section 19, consideration being given to any extensions or permanent improvements made in the properties in the period that may have elapsed subsequent to the time of the original construction or subsequent to the last previous appraisal, as the case may be, and also to the loss in value, if any, in the properties due to physical or functional depreciation or otherwise, as well as to the variation in the purchasing power of the dollar.
(3) In the case of any undertaking established under regulations made under any Act of the Parliament of Canada, the Minister, after conferring with the owner of an undertaking and with the authority, if any, having jurisdiction over the regulation and control of public utilities in the district in which the undertaking is situated, may modify the basis on which the appraisal is to be made.
(4) In any valuation of the lands, works and properties held by a licensee in connection with his licence, no value shall be given or claimed for the rights and privileges granted by his licence over and above the sums, if any, actually paid to the government for such rights and privileges, but not including in any case guarantee deposits paid during the interim licence period nor any rentals or annual charges accruing during the final licence period.
58 (1) Unless exempted in writing by the Minister from compliance with this section, every licensee shall keep a true and detailed account of all expenditures made in respect of the works, lands and properties and shall file annually with the Director on or before March 1st a return for the immediately preceding year ending December 31st, based on the account and being an accurate summary thereof, the return to be attested by the oath of the licensee or in the case of a company by its president and secretary.
(2) In an annual return made by a licensee the following items shall be shown separately:
(a) respecting the works,
(i) the actual cost thereof, giving separately each class of expenditures as indicated in the definition actual cost in section 2,
(ii) amounts expended in that year for enlargements and permanent improvements authorized by the Minister, and
(iii) depreciation in value from any and all causes for that year;
(b) respecting lands, tenements and appurtenances not included in paragraph (a), a statement setting out, in each case, the actual cost thereof in accordance with section 19;
(c) respecting capital stock,
(i) the amount authorized and the number of shares into which it is divided,
(ii) the number of shares subscribed for and allotted, the number of shares forfeited to date, and the owners, for the time being, of all outstanding shares,
(iii) the amount of calls made on each share, and the total amount received from shareholders in cash on account of stock,
(iv) the number of shares, if any, issued as fully paid-up shares as consideration for any service rendered or otherwise, specifying in each case the consideration for which such shares were issued, and
(v) the amounts of dividends declared and paid;
(d) respecting bonds or debentures,
(e) the indebtedness other than stock and bonds, specifying the nature and amounts, and the rate of interest such indebtedness bears;
(f) a statement showing the total revenues of the undertaking, specifying the amount received from each and every source;
(g) maintenance and operation expenditures, separating those expenditures that are incurred at or near the works from head-office expenditures and expenditures relating to general administration;
(h) the names of officers and the classification of employees with salaries, expenses or other remuneration paid or allowed;
(i) the proposed extensions during ensuing years; and
(j) such other data as the Minister may require.
(3) If the licensee is a company, an annual return shall have attached thereto a copy of the by-laws of the company, showing all amendments thereto during the year covered by the return.
(4) In respect of the classification of items under paragraphs 2(a) to (j), the methods of allowing for depreciation, and the form in which the accounts shall be kept, the Minister’s decision is final.
59 (1) Before any assignment or transfer of any licence or of the rights and privileges granted thereby or the undertaking connected therewith or any part thereof becomes valid or effective, the Minister’s approval in writing shall be obtained, and the assignment or transfer is subject to such terms and conditions as the Minister may impose.
(2) When applying for approval of the assignment or transfer of a licence, the licensee shall file with the Minister a full and detailed statement of the proposed compensation to be paid to him for the rights, privileges and properties transferred in respect of the undertaking.
(3) The Minister shall not grant approval of the assignment or transfer of a licence unless
(a) it is shown to his satisfaction that the assignment or transfer is expedient in the public interest;
(b) no remuneration is to be allowed to the assignor or transferor for the rights and privileges conferred under the licence over and above the sums, if any, actually paid to the Crown for such rights and privileges, but not including guarantee deposits paid during the interim licence period or any rentals or annual charges accruing during the final licence period; and
(c) the assignee or transferee has undertaken in a manner satisfactory to the Minister to assume all the obligations of the assignor or transferor and the additional obligations prescribed by the Minister in the written approval.
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