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47 |
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Third
Session, 46th General Assembly 59
Elizabeth II, 2010 |
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AN ACT TO AMEND THE ABITIBI-CONSOLIDATED |
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Received and Read the First Time................................................................................................... |
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Second |
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Committee............................................................................................................................................ |
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Third |
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Royal Assent...................................................................................................................................... |
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HONOURABLE SHAWN SKINNER Minister of Natural Resources |
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Ordered
to be printed by the Honourable House of Assembly |
EXPLANATORY NOTE This Bill would amend the Abitibi-Consolidated Rights and Assets Act to revise subsection 10(2) respecting the payment of compensation as a result of the expropriation of lands and assets under the Act. |
A BILL AN ACT TO AMEND THE ABITIBI-CONSOLIDATED RIGHTS AND ASSETS ACT Analysis 1. S.10 Amdt. Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows: SNL2008 cA-1.01 1. Subsection 10(2) of the Abitibi-Consolidated Rights and Assets Act is repealed and the following substituted: (2) Notwithstanding subsection (1), the following entities affected by the operation of Schedule C shall be paid the compensation the Lieutenant-Governor in Council may determine for each of them on an individual basis as a result of the expropriation of the lands and assets under this Act: (a) Fortis Properties Corporation; (b) CHI Hydroelectric Company Inc.; and (c) the secured creditors of the Exploits River Hydro Partnership and the Star Lake Hydro Partnership as represented by Sun Life Assurance Company of Canada, or their successors or assigns. ŠEarl G. Tucker, Queen's Printer |