Marginal note:Purpose

2138. The purpose of this Part is to authorize a number of measures for the reorganization and divestiture of all or any part of AECL’s business.

Marginal note:Authority to sell shares, etc.

• 2139. (1) The Minister may, with the approval of the Governor in Council and on any terms that the Governor in Council considers appropriate,

  • (a) despite section 11 of the Nuclear Energy Act, sell or otherwise dispose of some or all of the securities of AECL;

  • (b) procure an addition to, or other material change in, the objects or purposes for which AECL is incorporated or the restrictions on the businesses or activities that it may carry on, as set out in its articles;

  • (c) procure the amalgamation of AECL; or

  • (d) procure the dissolution of AECL.

• Marginal note:Additional powers

  (2) The Minister may do anything or cause anything to be done that is necessary for, or incidental to, a measure approved under subsection (1).

Marginal note:Authority with respect to entities

• 2140. (1) The Minister may, with the approval of the Governor in Council and on any terms that the Governor in Council considers appropriate,

  • (a) procure the incorporation of a corporation, securities of which, on incorporation, would be held by, on behalf of or in trust for, Her Majesty in right of Canada and sell or otherwise dispose of some or all of the securities of the corporation;

  • (b) procure the formation of any other entity, securities of which, on formation, would be held by, on behalf of or in trust for, Her Majesty in right of Canada and sell or otherwise dispose of some or all of the securities of the entity;

  • (c) acquire securities of a corporation that, on acquisition, would be held by, on behalf of or in trust for, Her Majesty in right of Canada and sell or otherwise dispose of some or all of the securities of the corporation; and

  • (d) acquire securities of any other entity that, on acquisition, would be held by, on behalf of or in trust for, Her Majesty in right of Canada and sell or otherwise dispose of some or all of the securities of the entity.

• Marginal note:Additional powers

  (2) The Minister may do anything or cause anything to be done that is necessary for, or incidental to, a measure approved under subsection (1).

• Marginal note:Part X of the Financial Administration Act

  (3) The Governor in Council may, by order, declare that any of the provisions of Part X of the Financial Administration Act do not apply to a corporation referred to in subsection (1)(a).

Marginal note:Authority

• 2141. (1) AECL, a corporation referred to in paragraph 2140(1)(a), any other entity referred to in paragraph 2140(1)(b) or any one of their wholly-owned subsidiaries or wholly-owned entities may, with the approval of the Governor in Council and on any terms that the Governor in Council considers appropriate,

  • (a) sell or otherwise dispose of some or all of its assets;

  • (b) sell or otherwise dispose of some or all of its liabilities;

  • (c) issue securities and sell or otherwise dispose of some or all of those securities;

  • (d) reorganize its capital structure;

  • (e) acquire assets of a corporation or any other entity;

  • (f) procure an addition to, or other material change in, the objects or purposes for which it is incorporated or formed or the restrictions on the businesses or activities that it may carry on, as set out in its articles or constituting documents;

  • (g) procure the incorporation of a corporation, securities of which, on incorporation, would be held by, on behalf of or in trust for, the entity that procures the incorporation;

  • (h) procure the formation of any other entity, securities of which, on formation, would be held by, on behalf of or in trust for, the entity that procures the formation;

  • (i) acquire securities of a corporation or any other entity that, on acquisition, would be held by, on behalf of or in trust for, the entity that acquires the securities;

  • (j) sell or otherwise dispose of some or all of the securities of a corporation or any other entity that are held by, on behalf of or in trust for, the entity that sells or otherwise disposes of the securities;

  • (k) procure its amalgamation or the amalgamation of any of its wholly-owned subsidiaries;

  • (l) procure its dissolution or the dissolution of any of its wholly-owned subsidiaries; or

  • (m) do anything that is necessary for, or incidental to, a measure approved under paragraphs (a) to (l).

• Marginal note:Additional powers

  (2) The Governor in Council may, on the recommendation of the Minister and on any terms that the Governor in Council considers appropriate, direct AECL, a corporation referred to in paragraph 2140(1)(a) or any other entity referred to in paragraph 2140(1)(b) to take, or cause any of its wholly-owned subsidiaries or wholly-owned entities to take, a measure referred to in subsection (1).

• Marginal note:Limitation

  (3) The Governor in Council may not issue a directive to AECL, a corporation referred to in paragraph 2140(1)(a) or any other entity referred to in paragraph 2140(1)(b)

  • (a) after any of its securities are sold or otherwise disposed of; or

  • (b) with respect to any of its wholly-owned subsidiaries or wholly-owned entities, after the wholly-owned subsidiaries or wholly-owned entities’ securities are sold or otherwise disposed of.

• Marginal note:Compliance with directive

  (4) The directors of AECL or of the corporation, or persons acting in a similar capacity with respect to the entity, must comply with a directive issued by the Governor in Council. That compliance is in the best interests of AECL, the corporation or the entity, as the case may be, to whom the directive is issued.

• Marginal note:Notification of implementation

  (5) As soon as is feasible after implementing a directive and completing any actions that are required to be taken in connection with that implementation, AECL, the corporation or the entity must notify the Minister that it has done so.

Marginal note:Non-application of Statutory Instruments Act

2142. The Statutory Instruments Act does not apply to a directive.

Marginal note:Tabling in Parliament

• 2143. (1) The Minister is to cause a copy of a directive to be laid before each House of Parliament on any of the first 15 days on which that House is sitting after the day on which the directive is issued.

• Marginal note:Exception — detrimental information

  (2) However, if the Minister is of the opinion that publishing information contained in the directive would be detrimental to Canada’s interests or the commercial interests of AECL or the corporation or other entity to whom the directive is issued, as the case may be, the Minister is to cause a copy of the directive to be laid before each House of Parliament on any of the first 15 days on which that House is sitting after the day on which he or she is notified that the directive has been implemented.

• Marginal note:Consultation

  (3) The Minister must consult the board of directors of AECL or the corporation, or the person or group of persons acting in a similar capacity for the entity, before forming an opinion whether publishing information contained in the directive would be detrimental.

Marginal note:Application of proceeds of disposition

2144. AECL or a corporation or other entity referred to in subsection 2141(1) must pay the proceeds from the sale or other disposition of any assets, securities or liabilities under that subsection to the Receiver General.

Marginal note:Financial Administration Act

2145. Sections 89, 90 and 91 and subsection 99(2) of the Financial Administration Act do not apply to any measure referred to in sections 2139 to 2141.

Marginal note:Appropriation

2146. On the requisition of the Minister and with the concurrence of the Minister of Finance, there may be paid out of the Consolidated Revenue Fund any amount that is required to carry out a measure referred to in sections 2139 to 2141.

R.S., c. A-16; 1997, c. 9, s. 89Nuclear Energy Act

2147. Subsection 11(2) of the Nuclear Energy Act is replaced by the following:

Coming into Force

Marginal note:Order in council

2148. The provisions of this Part come into force on a day or days to be fixed by order of the Governor in Council.

PART 19PARTICIPANT FUNDING PROGRAMS

R.S., c. N-7National Energy Board Act

2149. The National Energy Board Act is amended by adding the following after section 16.2:

1997, c. 9Nuclear Safety and Control Act

• 2150. (1) Subsection 21(1) of the Nuclear Safety and Control Act is amended by adding the following after paragraph (b):

  • (b.1) establish and maintain a participant funding program to facilitate the participation of the public in proceedings under this Act;

• (2) Paragraph 21(1)(g) of the Act is replaced by the following:

  • (g) charge any fees that may be prescribed for any information, product or service that it provides under this Act or for the participant funding program that it establishes and maintains under this Act;

• 2151. (1) Paragraph 44(1)(i) of the Act is replaced by the following:

  • (i) prescribing the fees that may be charged for the provision, by the Commission, of information, products and services or for the participant funding program that it establishes and maintains;

• (2) Subsection 44(2) of the Act is replaced by the following:

  • Marginal note:Amount not to exceed cost

    (2) The fees referred to in paragraph (1)(i) may not exceed a reasonable estimate of the cost of providing the information, product or service or of the costs of the participant funding program.

PART 20ENVIRONMENTAL ASSESSMENT

1992, c. 37Canadian Environmental Assessment Act

Amendments to the Act

Marginal note:2003, c. 9, s. 1(1)

2152. The definitions “comprehensive study” and “comprehensive study list” in subsection 2(1) of the Canadian Environmental Assessment Act are replaced by the following:

2153. The Act is amended by adding the following after section 7: