An Act to amend the Export Development Act and to make consequential amendments to other Acts (S.C. 2001, c. 33)
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Assented to 2001-12-18
An Act to amend the Export Development Act and to make consequential amendments to other Acts
S.C. 2001, c. 33
Assented to 2001-12-18
An Act to amend the Export Development Act and to make consequential amendments to other Acts
SUMMARY
This enactment amends the Export Development Act by
(a) changing the name of the Corporation to Export Development Canada and making consequential amendments to other Acts and to regulations;
(b) enabling the Board to delegate its powers and duties to committees that it may establish, other than the executive committee;
(c) requiring the Corporation, before entering into a transaction that is related to a project, to determine, in accordance with a directive established by the Board, whether the project is likely to have adverse environmental effects and, if such is the case, whether the Corporation is justified in entering into the transaction;
(d) requiring the Auditor General to audit the design and implementation of the directive established by the Board, at least once every five years;
(e) providing that the Canadian Environmental Assessment Act cannot be made to apply to certain activities of the Corporation;
(f) providing that an environmental assessment is not required under the Canadian Environmental Assessment Act where the Minister for International Trade, the Minister of Finance or the Governor in Council exercise certain powers with respect to the Corporation; and
(g) enabling the Board to make by-laws respecting the establishment of a pension plan for the officers and employees of the Corporation and their dependants.
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
R.S., c. E-20EXPORT DEVELOPMENT ACT
Marginal note:1993, c. 26, s. 1
1. The long title of the Export Development Act is replaced by the following:
2. Section 1 of the French version of the Act is replaced by the following:
Marginal note:Titre abrégé
3. (1) The definitions “Chairman” and “Vice-Chairman” in section 2 of the English version of the Act are repealed.
(2) The definition “Corporation” in section 2 of the Act is replaced by the following:
“Corporation”
« Société »
“Corporation” means Export Development Canada, the corporation established by section 3;
(3) Section 2 of the English version of the Act is amended by adding the following in alphabetical order:
“Chairperson”
Marginal note:Version anglaise seulement
“Chairperson” means the Chairperson of the Board;
“Vice-chairperson”
Marginal note:Version anglaise seulement
“Vice-chairperson” means the Vice-chairperson of the Board.
4. Section 3 of the Act is replaced by the following:
Marginal note:Corporation established
3. A corporation is hereby established, to be known as Export Development Canada, consisting of a Board of Directors composed of fifteen directors, including a Chairperson and a President.
5. The heading before section 7 of the Act is replaced by the following:
COMMITTEES OF THE BOARD
6. The Act is amended by adding the following after section 7:
Marginal note:Other committees
7.1 The Board may establish any other committee and that committee may exercise any powers and perform any duties of the Board delegated to it by the Board.
7. Subsection 8(2) of the Act is replaced by the following:
Marginal note:Management of Corporation vested in President
(2) The President is the chief executive officer of the Corporation and has on behalf of the Board the direction and management of the business of the Corporation, with authority to act in the conduct of the business of the Corporation in all matters that are not by this Act or the by-laws of the Corporation specifically reserved to the Board or any committee of the Board.
Marginal note:1993, c. 26, s. 4(2)
8. Subsection 10(3) of the Act is replaced by the following:
Marginal note:Limit of liability
(3) Subject to subsections (3.1) and (4), the contingent liability of the Corporation in respect of the principal amount owing under all outstanding arrangements entered into under paragraph (1.1)(b) shall at no time exceed the greater of
(a) an amount equal to ten times the authorized capital of the Corporation, and
(b) seventeen billion, five hundred million dollars.
Marginal note:Appropriation Act
(3.1) The amount referred to in paragraph (3)(b) may be varied in an appropriation Act.
9. The Act is amended by adding the following after section 10:
ENVIRONMENTAL EFFECTS
Marginal note:Requirement
10.1 (1) Before entering, in the exercise of its powers under subsection 10(1.1), into a transaction that is related to a project, the Corporation must determine, in accordance with the directive referred to in subsection (2),
(a) whether the project is likely to have adverse environmental effects despite the implementation of mitigation measures; and
(b) if such is the case, whether the Corporation is justified in entering into the transaction.
Marginal note:Directive
(2) The Board shall issue a directive respecting the determination referred to in subsection (1), which directive may
(a) define the words and expressions that the Board considers necessary for the application of that subsection, including the words and expressions “transaction”, “project”, “adverse environmental effects” and “mitigation measures”;
(b) establish the criteria that the Corporation must apply in making the determination; and
(c) establish exceptions specifically or by any class, as defined by the Board, to the Corporation’s obligation to make the determination.
Marginal note:Statutory Instruments Act
(3) The directive is not a statutory instrument for the purposes of the Statutory Instruments Act.
10. (1) Paragraph 16(a) of the Act is replaced by the following:
(a) for the regulation of its proceedings, including the delegation of any of its powers and duties to any committee of the Board and the fixing of quorums for meetings of the Board and any committee of the Board;
(2) Paragraph 16(d) of the Act is replaced by the following:
(d) delegating, subject to any terms and conditions specified in the by-laws and despite any delegation of such authority to any committee of the Board, to any one or more officers of the Corporation, jointly or severally, any authority to authorize the Corporation to exercise a power under this Act that is given specifically to the Board by any provision of this Act;
(d.1) respecting
(i) the establishment, management and administration of a pension plan for the officers and employees of the Corporation and their dependants,
(ii) the contributions to be made by the Corporation to the associated pension fund,
(iii) the provision of benefits under the pension plan,
(iv) the payment of pensions, and
(v) the investment of the assets of the fund; and
11. Section 21 of the Act is renumbered as subsection 21(1) and is amended by adding the following:
Marginal note:Report re directive
(2) As auditor of the Corporation, the Auditor General must, at least once every five years, audit the design and the implementation of the directive referred to in subsection 10.1(2) and submit a report on the audit to the Board and to the Minister. The Auditor General must submit the report to each House of Parliament on any of the first thirty days on which it is sitting after the report is completed.
12. The Act is amended by adding the following after section 24:
Marginal note:Canadian Environmental Assessment Act: s. 5(1)
24.1 (1) Subsection 5(1) of the Canadian Environmental Assessment Act does not apply where the Minister or the Minister of Finance exercises a power or performs a duty or function under this Act or any regulation made under it, or exercises a power of authorization or approval with respect to the Corporation under any other Act of Parliament or any regulation made under it.
Marginal note:Subsection 5(2)
(2) Subsection 5(2) of the Canadian Environmental Assessment Act does not apply where the Governor in Council exercises a power of authorization or approval under regulations made under this Act, or where the Governor in Council exercises a power of authorization or approval with respect to the Corporation under any other Act of Parliament or regulations made under it.
Marginal note:Subsection 8(1)
(3) Subsection 8(1) of the Canadian Environmental Assessment Act does not apply to the Corporation.
Marginal note:Use of Corporation’s name or initials
24.2 (1) Except with the written consent of the Corporation, no person shall in any prospectus or advertisement, or for any other business purpose, use the following names and initials: “Export Development Canada”, “Exportation et développement Canada”, “Export Development Corporation”, “Société pour l’expansion des exportations”, “E.D.C.”, “EDC”, “S.E.E.” and “SEE”.
Marginal note:Offence
(2) A person who contravenes subsection (1) is guilty of an offence and liable on summary conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding six months, or to both.
Marginal note:Replacing “Chairman” and “Vice-Chairman” with “Chairperson” and “Vice-chairperson”
13. The English version of the Act is amended by replacing the words “Chairman” and “Vice-Chairman” with the words “Chairperson” and “Vice-chairperson”, respectively, wherever they occur in the following provisions:
(a) section 4;
(b) section 6;
(c) subsection 7(1); and
(d) subsection 9(2).
TRANSITIONAL PROVISIONS
Marginal note:Powers, duties and functions
14. Wherever, under any Act of Parliament, any instrument made under an Act of Parliament or any contract, lease, licence or other document, a power, duty or function is vested in or exercisable by the Export Development Corporation, that power, duty or function is vested in or exercisable by Export Development Canada.
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