Third

Session, 45th General Assembly

Elizabeth II, 2006

BILL 1

AN ACT TO AMEND THE

HYDRO CORPORATION ACT AND THE ELECTRICAL POWER

CONTROL ACT, 1994

Received and Read the First Time ...................................................................................................

Second Reading .................................................................................................................................

Committee ............................................................................................................................................

Third Reading .....................................................................................................................................

Royal Assent ......................................................................................................................................

HONOURABLE

EDWARD J. BYRNE

Minister

of Natural Resources

Ordered

to be printed by the Honourable House of Assembly

EXPLANATORY NOTE

This Bill would amend the Hydro Corporation Act to permit the

corporation to engage in activities related to the exploration for, development,

production, refining, marketing and transportation of, hydrocarbons and

products from hydrocarbons.

The amendments would also permit the

corporation to engage in other activities that the Lieutenant-Governor in

Council may approve.

Currently the corporation may only pursue

objects relating to the development, generation and sale of electric power.

The Bill would also amend the Electrical Power Control Act, 1994 .

Section 24 of that Act presently prohibits Newfoundland and

Labrador Hydro from engaging in activities that are not related to electrical

power generation and sale.

A BILL

AN ACT TO AMEND THE HYDRO CORPORATION ACT AND THE ELECTRICAL POWER

CONTROL ACT, 1994

Analysis

HYDRO

CORPORATION ACT

S.4 Amdt.

Supply of power

ELECTRICAL

POWER CONTROL ACT, 1994

S.24 Amdt.

Restrictions on business

Be it enacted by the Lieutenant-Governor and

House of Assembly in Legislative Session convened, as follows:

HYDRO CORPORATION ACT

RSNL1990 cH-16 as

amended

Section 4 of the Hydro Corporation Act is amended by renumbering it as subsection

(1) of

section 4 and by adding immediately after subsection (1) the following:

(2) In addition to the objects referred to in subsection

(1), the corporation may, in the province and elsewhere, engage in activities related

to the exploration for, development, production, refining, marketing and

transportation of, hydrocarbons and products from hydrocarbons.

(3) Notwithstanding subsections (1) and (2), the

corporation may engage in those other activities that the Lieutenant-Governor

may approve.

ELECTRICAL POWER CONTROL ACT, 1994

SNL1994 c E-5.1 as

amended

Section 24 of the Electrical Power Control Act, 1994 is amended by adding immediately

after subsection (2) the following:

(3) This

section does not apply to Newfoundland and

Labrador Hydro.

Earl G. Tucker,

Queen's Printer