Sir Adam Beck Memorial Act, 2003 Hampton, Howard — Bill 112 (37th Parliament, 4th Session)

Bill 112, 37-4

Ontario — Bills

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Bill 112, Sir Adam Beck Memorial Act, 2003

Hampton, Howard

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[37] Bill 112 Original (PDF)

Bill 112 2003

An Act, in memory of

Sir Adam Beck,

to prevent the privatization of

Hydro One Inc.

Her Majesty, by and with the advice and consent of the Legislative

Assembly of the Province of Ontario, enacts as follows:

1. Sections 49 and 50 of the Electricity Act,

1998 , as re-enacted by the Statutes of Ontario, 2002,

chapter 1,

Schedule A,

section 10, are repealed and the following

substituted:

Rights of the Minister

(1) The Minister, on behalf of

Her Majesty in right of Ontario, may acquire and hold securities or debt

obligations of, or any other interest in, Hydro One Inc. or any of its

subsidiaries.

Agreements

(2) The Minister, on behalf of Her Majesty in right of Ontario,

may enter into any agreement or arrangement that the Minister considers

necessary or incidental to the exercise of a power under subsection (1).

Privatization forbidden

50. Despite any other provision of this Act or

of any other Act or law, neither Her Majesty in right of Ontario nor Hydro

One Inc. may,

(

a) dispose of any securities or assets of Hydro One Inc. in whole or in

part; or

(

b) transfer control of any securities or assets of Hydro One Inc. in

whole or in part.

2. Sections 50.1, 50.2 and 50.3 of the Act, as enacted

by the Statutes of Ontario, 2002,

chapter 1,

Schedule A,

section 10, are

repealed.

Commencement

3. This Act comes into force on the day it receives

Royal Assent.

Short title

4. The

short title of this Act is the Sir Adam Beck

Memorial Act, 2003 .

______________

EXPLANATORY NOTE

The Electricity Act, 1998 is

amended to prevent the privatization of Hydro One Inc.

Date Bill stage Activity Committee

June 18, 2003

First Reading

Carried

Debates and Progress

First Reading

June

18, 2003

Second Reading

Committee

Third Reading

Royal Assent :

Coming into force :Royal Assent.

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Document details

Collection	Ontario — Bills
Citation	Bill 112, 37-4
Type	bill
Volume / chapter	p37 s4 bill 112 html
Language	en
Format	html
Source	PROVINCIAL
Identifier	89a985eeae7fa8e7bed29a301088e7bdafa11ab4

Source file is stored in the law ingest library (html).