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Statutes of Newfoundland and Labrador 2009


CHAPTER 18

AN ACT TO AMEND THE RESEARCH AND DEVELOPMENT COUNCIL ACT

(Assented to May 28, 2009)

Analysis


        1.   S.2 Amdt.
Definitions

        2.   S.3 Amdt.
Council established

        3.   S.7 Amdt.
Tenure of members

        4.   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. (1) Paragraph 2(d) of the Research and Development Council Act is repealed and the following substituted: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             (2)  Paragraph 2(g) of the Act is repealed and the following substituted: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 (1) Subsection 3(1) of the Act is repealed and the following substituted: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

        3. (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             (2)  Subsection 3(3) of the Act is repealed and the following substituted: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 Subsection 7(1) of the Act is repealed and the following substituted: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

        7. (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.