Bill 223 — Second Session, 22Nd Legislature, 39 Elizabeth Ii the Legislative Assembly of Alberta Bill 223 Alberta Economic Diversification Board Act (Legislature 22, Session 2)

L22 S2 2755

Alberta — Bills

1990 BILL Second Session, 22nd Legislature, 39 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL ALBERTA ECONOMIC DIVERSIFICATION BOARD ACT MR. BRUSEKER First Reading Second Reading Committee of the Whole ThUd Reading Royal Assent Bill Mr. Bruseker BILL ALBERTA ECONOMIC DIVERSIFICATION BOARD ACT (Assented to ,1990) Board created Objects HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1(1) There is hereby estabUshed a Board by the name Alberta Economic Diversification Board.

(2) The Board shaU consist of (

a) a Chief Executive Officer appointed by the Lieutenant Governor in Council; (

b) one person nominated by each poUtical party holding a seat or seats in the Legislative Assembly; (

c) three members appointed by the Lieutenant Governor in CouncU who are not members of the Legislative Assembly nor members of the Public Service of Alberta. 2 The object of the Board is to investigate aU loans and loan guarantees granted by the Government, to give a report on any loan or loan guarantee made after the commencement of this Act, and to report on the progress of aU corporations that have received loans or loan guarantees from the Government in an annual report, and to advise the Government on its role in economic diversification. 3 (

a) The Board may require any Minister to provide to it a copy of any study or report made under the Minister's administration that relates to economic diversification, subject to such reasonable restrictions as to secrecy and pubUcation as the Minister may make. Rqxjrt on proposed loans (

b) The Board may employ staff and retain expert advisors providmg money has been appropriated to that purpose by the Legislature. 4(1) Notwithstcmding any other Act, prior to any finjJ approvfJ of a loan or loan guarantee by the Provmce to any corporation, the board shaU have an opportunity to review the proposal and aU mformation connected therewith that the Board may reasonably require and make a report on the proposed loan.

(2) The report shaU be submitted to the Mmister of Economic Development and Trade and the Minister under whose authority the loan or loan guarantee is to be granted.

(3) The Board may make pubUc any report which it submits to a Minister pursuant to this section, subject to such reasonable restrictions as may be requested by the Minister of Economic Development and Trade to protect the corporation requesting the loan or loan guarantee from unreasonable disclosure of its business affairs or financial situation. Annual report 5^]^^ j|jg Board shaU, iu rcspcct of each fiscal year prepare a report on its activities and a financial statement which it shall submit to the Minister of Economic Development and Trade.

(2) The Minister shaU, on receipt, table the report in the Legislative Assembly if it is then sitting, and if it is not then sitting within 30 days of the commencement of the next sittmg. Title: 1990 (22nd 2nd) Bill 223, Alberta Economic Diversification Board Act

Document details

Collection	Alberta — Bills
Citation	L22 S2 2755
Type	bill
Volume / chapter	L22 S2 2755
Language	en
Format	json
Source	PROVINCIAL
Identifier	9b019f4bb48d1e6277fa97b6426d9cdd98f60202

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