Atlantic Canada Opportunities Agency Act

Atlantic Canada Opportunities Agency Act Short title This Part may be cited as the Atlantic Canada Opportunities Agency Act. Definitions In this Part, Agency means the Atlantic Canada Opportunities Agency established by section 10; (Agence) Atlantic Canada means the Provinces of Nova Scotia, New Brunswick, Prince Edward Island and Newfoundland and Labrador; (Canada atlantique) Board[Repealed, 2014, c. 20, s. 175] designated area means an area of Atlantic Canada designated by order of the Minister pursuant to section 7; (zone désignée) Minister means such member of the Queen’s Privy Council for Canada as is appointed by Commission under the Great Seal to be the Minister for the purposes of this Part; (ministre) President means the President of the Agency appointed pursuant to subsection 11(1). (président) Purpose The purpose of this Part is to increase opportunity for economic development in Atlantic Canada and, more particularly, to enhance the growth of earned incomes and employment opportunities in that region. Powers, duties and functions of the Minister In furtherance of the purpose of this Part, the Minister may exercise powers and perform duties and functions that affect economic opportunity and development in Atlantic Canada over which Parliament has jurisdiction and that are not by or pursuant to law assigned to any other member of the Queen’s Privy Council for Canada or to any department, board or agency of the Government of Canada. Coordination The Minister shall coordinate the policies and programs of the Government of Canada in relation to opportunity for economic development in Atlantic Canada. Advisory boards The Minister may establish advisory boards and provide for their membership, duties, functions and operation. Expenses Subject to the approval of the Governor in Council, the Minister may provide for the payment of reasonable travel and living expenses incurred in the performance of their duties and functions by members of advisory boards established under subsection (3). Responsible for Agency The Minister is responsible for the Agency. Agreements with provinces The Minister may enter into agreements with the government of any province or provinces in Atlantic Canada respecting the carrying out of any program or project of the Agency. Establishment of areas The Minister may, by order, establish as a designated area, for the period set out in the order, any area in Atlantic Canada where, in the opinion of the Minister, exceptional circumstances provide opportunities for locally based improvements in productive employment. Shares and related instruments Subject to any regulations, the Minister may acquire, exercise, assign or sell a stock option, share warrant, share or other similar financial instrument obtained as a condition of a loan or contribution made, a guarantee given or loan insurance or credit insurance provided under section 13 or in the course of the collection or enforcement of a debtor’s obligation to the Agency. Support for programs and projects under other Acts Where the Minister is satisfied that the implementation of a program or project authorized by any other Act would further the purpose of this Part, the Minister may, conditionally or unconditionally, undertake to transfer funds appropriated for the purposes of this Part to supplement funds that the minister responsible for the program or project has undertaken to expend in connection therewith. Effect of undertaking Subject to compliance with any conditions attached to an undertaking given by the Minister pursuant to subsection (1) and to the approval of Parliament, funds undertaken to be transferred may be expended by the minister responsible for the implementation of the program or project on the same terms and conditions as funds that that minister has undertaken to expend in connection therewith. Information in annual report Each annual report under subsection 21(3) shall include full and complete information relating to funds undertaken to be transferred under this section in the fiscal year to which the report relates. Establishment of Agency There is hereby established an agency of the Government of Canada to be known as the Atlantic Canada Opportunities Agency. President The Governor in Council shall appoint an officer to be the deputy of the Minister, who shall be called the President of the Agency and who shall hold office during pleasure. Chief executive officer The President is the chief executive officer of the Agency and, under the direction of the Minister, has control and supervision over the work, officers and employees of the Agency. Acting President In the event of the absence or incapacity of the President or a vacancy in that office, the Minister shall appoint another person to act as the President, but no person may act as President for a period exceeding ninety days without the approval of the Governor in Council. Remuneration The President shall be paid such remuneration as may be fixed by the Governor in Council. Object The object of the Agency is to support and promote opportunity for economic development of Atlantic Canada, with particular emphasis on small and medium-sized enterprises, through policy, program and project development and implementation and through advocacy of the interests of Atlantic Canada in national economic policy, program and project development and implementation. Powers In carrying out its object, the Agency may in concert with other concerned departments and agencies of the Government of Canada, formulate plans and integrated federal approaches to support opportunity for economic development of Atlantic Canada; plan, direct, manage and implement programs and projects intended to contribute directly or indirectly to the establishment, development, support and promotion of enterprises, and more particularly small and medium-sized enterprises, in Atlantic Canada, the development of entrepreneurial talent in that region, and the economic prosperity of that region; plan, direct, manage and implement programs and projects to improve the business environment in Atlantic Canada, including programs and projects of support to business associations, conferences, studies, consultations, trade shows, demonstration projects and market research, related to the development of business opportunity data banks and networks, to improve business communication and cooperation, and to promote scholarship related to business and investment; assist investors to locate enterprises, and more particularly small and medium-sized enterprises, in Atlantic Canada, consistent with Atlantic Canada and federal investment requirements; make loans to any person with respect to the establishment and development of enterprises, and more particularly small and medium-sized enterprises, in Atlantic Canada; guarantee the repayment of, or provide loan insurance or credit insurance in respect of, any financial obligation undertaken by any person in respect of the establishment and development of enterprises, and more particularly small and medium-sized enterprises, in Atlantic Canada; in accordance with terms and conditions approved by Treasury Board, make grants and contributions in support of programs and projects undertaken by the Agency or the Minister; enter into contracts, memoranda of understanding or other arrangements in the name of Her Majesty in right of Canada or in the name of the Agency; acquire the assets and assume the obligations of the Enterprise Cape Breton Corporation or any of that Corporation’s subsidiaries; 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, hold any security interest, surrender any security interest, realize any security interest, or exchange, sell, assign or otherwise dispose of any security interest; 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; 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 do all such other things as are necessary or incidental to the attainment of the object of the Agency. Duties The Agency shall assist the Minister generally, in the exercise of powers and the performance of duties and functions under this Part and any other Act in relation to which powers, duties and functions are assigned to the Minister in relation to opportunity for economic development of Atlantic Canada; in the coordination of policies and programs of the Government of Canada in relation to opportunity for economic development of Atlantic Canada; by administering any agreements entered into by the Minister with a province or provinces; in the exercise of powers conferred on the Minister by section 8; and by compiling detailed information on all programs and projects undertaken by the Agency or the Minister for the purpose of measuring trends, development and progress in the economic development of Atlantic Canada. Officers and employees Such officers and employees as are necessary for the proper conduct of the work of the Agency shall be appointed in accordance with the Public Service Employment Act. Government services and facilities In exercising its powers and performing its duties and functions under this Part, the Agency shall, where appropriate, make use of the services and facilities of departments, boards and agencies of the Government of Canada. Offices The principal office of the Agency shall be in Moncton, New Brunswick, but the Agency shall maintain at least one office in each other province in Atlantic Canada. Contracts binding on Her Majesty Every contract, memorandum of understanding and arrangement entered into by the Agency in its own name is binding on Her Majesty in right of Canada to the same extent as it is binding on the Agency. Legal proceedings Actions, suits or other legal proceedings in respect of any right or obligation acquired or incurred by the Agency, whether in its own name or in the name of Her Majesty, may be brought or taken by or against the Agency in the name of the Agency in any court that would have jurisdiction if the Agency were a corporation that is not an agent of Her Majesty. [Repealed, 2014, c. 20, s. 176] Regulations The Minister may make regulations specifying programs and projects in addition to those referred to in paragraph 13(c) to improve the business environment in Atlantic Canada; defining, for the purposes of this Part, the expressions “small and medium-sized enterprises”, “project” and “demonstration projects” and the class or classes of small and medium-sized enterprises and of operations and activities eligible for support by the Agency under this Part; and generally for carrying out the purposes and provisions of this Part. Idem The Minister may, with the approval of the Minister of Finance, make regulations relating to loans that may be made, guarantees that may be given and loan insurance and credit insurance that may be provided under this Part; and specifying the circumstances in which and the manner in which the Minister may acquire, exercise, assign or sell a stock option obtained as a condition under which a contribution or loan was made, a guarantee given or loan insurance or credit insurance provided under this Part. Designated area regulations In order to exploit the opportunities for locally based improvements in productive employment identified in a designated area, regulations specially applicable to that area may be made under the authority of this section that vary from regulations of general application to Atlantic Canada. Annual report of Agency The President shall, within four months after the end of each fiscal year, submit a report on the operations of the Agency in that year to the Minister. [Repealed, 2014, c. 20, s. 177] Annual report by Minister The Minister shall cause to be laid before each House of Parliament, on any of the first fifteen days on which that House is sitting after September 30 next following the end of each fiscal year, a report, including a copy of the annual report submitted to the Minister under subsection (1), on the administration of this Part for that fiscal year. Appropriations based on Estimates The provisions made by any appropriation Act for the fiscal year in which this section comes into force, based on the Estimates for that year to defray the charges and expenses of the public service of Canada within the Department of Regional Industrial Expansion in relation to any matter in Atlantic Canada to which the powers, duties or functions of the Minister or the Agency extend by law, shall be applied to such classifications of the public service within the Agency as the Governor in Council may determine. Transfer of powers, duties and functions Wherever under any Act, order, rule or regulation, or any contract, lease, licence or other document, any power, duty or function is vested in or exercisable by the Minister of Regional Industrial Expansion, the Deputy Minister of Regional Industrial Expansion or any other officer of the Department of Regional Industrial Expansion in relation to any matter in Atlantic Canada to which the powers, duties or functions of the Minister or of the Agency extend by law, the power, duty or function is vested in and shall be exercised by the Minister, the President or the appropriate officer of the Agency, as the case may be, unless the Governor in Council by order designates another Minister, deputy minister or officer of a department or a portion of the public service of Canada to exercise that power, duty or function. Deemed appointment Every indeterminate employee in the public service of Canada who is transferred to a position in the Agency from the public service of Canada within ninety days after the day on which this section comes into force is deemed to have been appointed to the Agency in accordance with subsection 15(1). Appointments terminated 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. No compensation 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.