1982 BILL Fourth Session, 19th Legislature, 31 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL ALBERTA SCIENTIFIC RESEARCH FOUNDATION ACT MR. COOK First Reading ................................................................ . Second Reading ....................... _ ....... -....... ' .. ' ........ I ••••••••••••••••• Committee of the Whole .................................. ' .. ' .............. . Third Reading ............................................................... . Royal Assent ................................................................ .

Definitions Foundation established Operation of Foundation Bill Mr. Cook BILL ALBERTA SCIENTIFIC RESEARCH FOUNDATION ACT (Assented to , 1982) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1 In this Act, (a) "Foundation" means the Alberta Scientific Research Foun­ dation created by

section 2; and (b) "Minister" means the Minister of Economic Development. 2 There is hereby established the Alberta Scientific Research Foundation. 3( 1) The Foundation shall be managed by a Board of members of whom (a) 6 shall be appointed by the Lieutenant Governor in Council, including representatives of industry and member of the Alberta Research Council; and (b) 2 shall be appointed by the University of Alberta; and (c) 1 shall be appointed by the University of Calgary.

(2) The Lieutenant Governor in Council shall nominate the chairman and the vice-chairman of the Board.

(3) The Board shall have the direction of the affairs of the Foun­ dation and control of its assets.

(4) The members of the Board shall be paid such remuneration and receive such reimbursement of expenses as is specified by Order of Object of Foundation Powers of the Board Financial operation Report to the Legislature Auditor the Lieutenant Governor in Council to be paid out of money appro­ priated to that purpose by the Legislature. 4 The object of the Foundation is the funding and carrying out of research into fields of pure and applied science that will have ap­ plication to the benefit of the people of Alberta. 5 The Board of the Foundation has the power (

a) to employ such officers and staff, and establish such facilities as are necsessary or desirable to carry out its functions; (

b) to acquire, hold and alienate real, personal and intellectual property necessary or desirable for the carrying out of its functions; (

c) to contract with others for the carrying out of all or any of the functions of the Foundation; and (

d) to carry out such other functions as are necessary for the achievement of its objects. 6( 1) The Foundation may receive, hold and disburse for the achieve­ ment of its objects such money as is appropriated to it by the Leg­ islature or is transferred to it by gift or bequest.

(2) The Foundation may make grants for the purpose of achieving its objects.

(3) The Foundation shall not be operated for the purpose of profit or gain. 7 The Foundation shall, after the end of each year, prepare a report on its operations for the year which shall be submitted, with an audited financial statement, to the Minister who shall table it in the Legislative Assembly if it is then sitting, and if it is not then sitting, within 15 days of the commencement of the next sitting. S The Auditor General is the auditor of the Foundation. In accordance with section 4(1) of the

Interpretation Act, this Bill comes into force on the date it receives Royal Assent. Title: 1982 (19th, 4th) Bill 219, Alberta Scientific Research Foundation Act