Second

Session, 46th General Assembly

Elizabeth II, 2009

BILL 20

AN ACT TO AMEND THE

RESEARCH AND

DEVELOPMENT COUNCIL ACT

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

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

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

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

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

HONOURABLE

SHAWN SKINNER

Minister of Innovation, Trade and Rural Development

Ordered

to be printed by the Honourable House of Assembly

EXPLANATORY NOTES

This Bill would amend the Research and Development Council Act to

enable the Lieutenant-Governor in Council to change the name of the research

and development council.

Clause 1 of the Bill would also amend

section 2 of the Act to expand the definition of research to include social

sciences and humanities.

In Clause 2 of the Bill, the Act

would be amended to remove the reference to the application of

section 203 of

the Corporations Act to the council.

Clause 3 of the Bill would amend the

Act to provide for a term of appointment of a member for up to 3 years.

Clause 4 of the Bill would add a new

section to the Act respecting the duty of care to be exercised by directors and

officers of the council, similar to the duty imposed upon directors and

officers under subsection 203(1) of the Corporations

Act .

Clause 5 of the Bill is a commencement

clause.

A BILL

AN ACT TO AMEND THE RESEARCH AND

DEVELOPMENT COUNCIL ACT

Analysis

S.2 Amdt.

Definitions

S.3 Amdt.

Council established

S.7 Amdt.

Tenure of members

S.13.1 Added

Duty of care

5. Commencement

Be it enacted by the Lieutenant-Governor and

House of Assembly in Legislative Session convened, as follows:

SNL2008 cR-13.1

(1) Paragraph 2(

d) of the Research and Development Council Act is

repealed and the following substituted:

(d) " council " means

the research and development council established under

section 3;

(2) Paragraph 2(

g) of the Act is repealed and the

following substituted:

(g) " research "

means research with respect to science, engineering and technology, social

sciences and humanities.

2. (1) Subsection 3(1) of the Act is repealed

and the following substituted:

Council

established

(1) There is established as a corporation a research and development

council for the province.

(1.1) The name of the

council shall be determined by the Lieutenant-Governor in Council.

(2) Subsection 3(3) of the Act is repealed and the

following substituted:

(3) The Corporations

Act does not apply to the council.

3. Subsection 7(1) of the Act is repealed and the

following substituted:

Tenure of members

(1) Members

of the board, whether appointed before or after this Act comes into force,

shall be appointed for a term of up to 3 years but may be removed by the Lieutenant-Governor

in Council for cause.

4. The Act is amended by adding immediately after

section 13 the following:

Duty of care

13.1 A director and officer of the council in

exercising his or her powers and discharging his or her duties shall

(

a) act honestly and in

good faith with a view to the best interests of the corporation; and

(

b) exercise the care,

diligence and skill that a reasonably prudent person would exercise in

comparable circumstances.

Commencement

5. This Act comes into force on the day that the Research and Development Council Act

comes into force.

Earl G. Tucker, Queen's Printer