CHAPTER 18

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Statutes of Newfoundland 1998

CHAPTER 18

AN ACT TO AMEND THE ECONOMIC
DIVERSIFICATION AND GROWTH ENTERPRISES ACT
(Assented to December 15, 1998)

Analysis

1. S.5 R&S
Business plan

2. S.8(5) Amdt.
Report

3. S.13 Rep.
Start-up incentive

4. S.15 Amdt.
Facilitator

Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:

SN1994 cE-1.1

1. Section 5 of the Economic Diversification and Growth Enterprises Act is repealed and the following substituted:

Business plan

5. Where a corporation makes an application to be designated as an EDGE Corporation, it shall provide a business plan covering all aspects of a corporation's proposed operations.

2. Section 8 of the Act is amended by adding immediately after subsection (5) the following:

(6) The Lieutenant-Governor in Council may revoke a corporation's EDGE designation and cancel the contract with the corporation.

3. (1) Section 13 of the Act is repealed.

(2) This section is considered to have come into force on April 1, 1997.

4. (1) Subsection 15(1) of the Act is amended by deleting the words "the Lieutenant-Governor in Council through".

(2) Subsection 15(2) of the Act is repealed and the following substituted:

(2) Where the minister receives an application under subsection (1), the minister may appoint a person, either from within or outside the government to assist the EDGE corporation as a facilitator.