S.M. 1996, c. 20

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S.M. 1996, c. 20

THE MANITOBA TRADING CORPORATION AMENDMENT ACT

(Assented to November 19, 1996)

HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:

C.C.S.M. c. T125 amended

The Manitoba Trading Corporation Act is amended by this Act.

The title is amended by striking out "Trading" and substituting "Trade and Investment".

The definition "corporation" in section 1 is amended by striking out "Trading" and substituting "Trade and Investment".

Section 2 is amended in the section heading and in the section by striking out "Trading" and substituting "Trade and Investment".

The following is added after section 3:

Objects of corporation

3.1

The objects of the corporation are to

(a) encourage, promote, develop and increase Manitoba exports and trade;

(b) promote investment in Manitoba; and

(c) promote international business opportunities for Manitoba businesses and assist Manitoba businesses in promoting those business opportunities.

6(1)

Subsection 4(1) is amended

(a) by repealing the section heading and the part preceding clause (a), and substituting the following:

Powers of corporation

4(1)

Without limiting the generality of section 3.1, the corporation may

(b) by repealing clause (f) and substituting the following:

(f) engage agents, distributors or other organizations within or outside Manitoba for the purpose of carrying out the intent of this Act;

(c) by adding the following after clause (l):

(l.1) for the attainment of its objects, provide grants, loans, loan guarantees or incentives on such terms and conditions, including the taking of security, as it considers appropriate;

(l.2) acquire, hold and dispose of real and personal property or any interest therein;

6(2)

Subsection 4(2) is repealed and the following is substituted:

Powers in special circumstances

4(2)

Notwithstanding any other provision of this Act, in special situations the corporation may

(a) promote and make sales for Manitoba products, merchandise or services within Manitoba; and

(b) when Manitoba businesses are acting in concert with other businesses within or outside Canada, promote international business opportunities for Manitoba businesses and businesses within or outside Canada and assist them in promoting those business opportunities.

7(1)

Subsection 5(1) is amended in the English version by striking out "chairman and one vice-chairman" and substituting "chairperson and one vice-chairperson".

7(2)

Subsection 5(3) is amended in the English version by striking out "chairman or vice-chairman" and substituting "chairperson or vice-chairperson".

8(1)

Subsection 6(1) is repealed and the following is substituted:

Appointment of president and c.e.o.

6(1)

The minister may appoint a person as president and chief executive officer of the corporation.

Function of president and c.e.o.

6(1.1)

The president and chief executive officer is responsible for the management of the business affairs of the corporation.

Appointment of vice-president

6(1.2)

With the approval of the minister, the board may appoint one or more vice-presidents.

8(2)

Subsection 6(4) is repealed.

9(1)

Subsection 7(1) is repealed and the following is substituted:

Responsibilities of the board

7(1)

The board is responsible for the operation of the corporation and must approve every contract or transaction of the corporation that exceeds an amount specified in the by-laws governing its procedure.

9(2)

Subsections 7(3), (4) and (6) of the English version are amended

(a) by striking out "he" wherever it occurs and subtituting "he or she";

(b) by striking out "his" wherever it occurs and substituting "his or her".

9(3)

Subsection 7(7) is amended by striking out "rules" and substituting "by-laws".

Section 8 of the English version is amended

(a) by striking out "chairman or vice-chairman" and substituting "chairperson or vice-chairperson"; and

(b) by striking out "him" and substituting "him or her".

Subsection 13(2) is amended by striking out "to be credited by him to the corporation in the trust and special division of the Consolidated Fund" and substituting "and credited to the account of the corporation in the Consolidated Fund".

Section 14 is repealed and the following is substituted:

Audit

The books and accounts of the corporation shall be examined and audited at least once annually by an auditor, who may be the Provincial Auditor, appointed by the Lieutenant Governor in Council.

Section 15 is repealed and the following is substituted:

Annual report

The chairperson of the corporation and the board shall, within three months after the end of a fiscal year, submit to the minister a report on the operations of the corporation and the board in that fiscal year, and the minister shall lay the report before the Legislative Assembly if it is then in session, and, if it is not, then he or she shall lay the report before the Legislative Assembly within 15 days after the beginning of the next session.

Section 18 is repealed.

Coming into force

This Act comes into force on the day it receives royal assent.