Good afternoon. My name is Denise Frenette. I am the Vice-President of Finance and Corporate Services for the Atlantic Canada Opportunities Agency, or ACOA.
ACOA was created in 1987 with a mandate to enhance the growth of earned incomes and employment opportunities in Atlantic Canada.
We carry out our mandate by helping businesses to become more competitive, innovative, and productive; by working with diverse communities to develop and diversify local economies; and by being a champion for Atlantic Canada.
Today, I am here to provide you with a technical briefing on the legislative changes ACOA is proposing through the 2014 budget implementation bill. More specifically, I will talk to you about divisions 9 and 10 of part 6 of the bill. I will be happy to answer any questions you may have following this briefing.
I'll begin with division 9 of section 6 of the budget implementation act, which proposes two initiatives that would allow ACOA to achieve efficiencies. Those initiatives are the elimination of the ACOA board and the agency’s five-year report to Parliament. I will guide you through the legislation from clause 175 to 178.
Clause 175 provides for the repeal of the definition, “Board”, in section 3 of the Atlantic Canada Opportunities Agency Act as the bill proposes to dissolve the board, pursuant to subsection 178(1).
Clause 176 provides for the repeal of sections 18 and 19 of the Atlantic Canada Opportunities Agency Act. These sections establish and describe the board’s operations, such as its quorum and frequency of meetings.
Clause 177 provides for the repeal of subsections 21(2) and 21(2.1) of the Atlantic Canada Opportunities Agency Act. These subsections required ACOA to table a comprehensive report before Parliament every five years, providing an evaluation of all activities in which the agency is involved. This report is now considered redundant in light of the current reporting framework, which includes annual departmental reports.
Clause 178 terminates the appointment of board members to the Atlantic Canada Opportunities Agency board. Furthermore, subsection 178(2) provides that the members of the board are not entitled to claim compensation as a result of early termination of appointment.
Mr. Chair, I can stop and entertain questions on division 9 or continue on to division 10.