Madam Speaker, there has been a lot of debate about Bill C-11 that did not focus on Bill C-11, but on the fairness of the $111 million human resource package that was announced in January 1999.
This funding was announced for a workforce adjustment program to deal with the loss of jobs associated with the closure of the failing mine. Unfortunately, the failing mine closed last September, about one year earlier than planned.
I think it is important that the House understand the status of this issue so that we can move on to deal with the issues surrounding Bill C-11 and the sale of Devco's assets.
In January 2000 Devco and its four unions agreed to form a joint planning committee, as per part III of the Canada Labour Code. Devco and the unions are continuing to follow the process as outlined in the labour code for resolving the workforce adjustment issues.
Recently this process led to the appointment of an arbitrator. Devco and its unions have agreed to a process to deal with the labour issues. The decision of the arbitrator will be final and binding on all parties. There is a process to deal with the labour issue.
Through a lot of effort, interest has been identified in Devco's assets. We are now at a stage where we should move forward with the process of considering Bill C-11. Now is the time to move the bill to the committee stage so that it can be examined in more detail.
The sales process announced by the government in January 1999 and initiated by the Cape Breton Development Corporation is at a stage where the private sector has come forward with definitive proposals for Devco's assets. Devco has a real opportunity to move its operations to the private sector and the step that is required by the House is to move forward with Bill C-11.
During this debate I have heard a lot of support for privatization from both sides of the House. It is important that we seize the opportunity to enable a private sector operator to acquire Devco's mining assets so that jobs can be maintained in coal mining. With the progress that Devco has made and the investments that prospective purchasers have made in carrying out their due diligence, time has now become of the essence in terms of moving forward with this bill.
The sale process will involve substantially all of Devco's assets. Subsection 90, part II of the Financial Administration Act stipulates that no crown corporation shall sell or otherwise dispose of all or substantially all of its assets unless authorized by an act of parliament. That is the reason for Bill C-11.
In addition to obtaining the authority to sell substantially all of Devco's assets, the bill will provide for the winding up of the affairs of the corporation and its eventual dissolution; provide for legal proceedings against Devco to be brought against the crown; maintain the general advantage of the Canada clause of the existing Cape Breton Development Corporation Act, thereby ensuring that the Canada Labour Code will apply to a private sector purchaser, and amend the Cape Breton Development Corporation Act to remove provisions that are no longer applicable.
This is a relatively simple straightforward bill. The first five clauses of the bill are the divestiture and dissolution authorization. Most of these clauses are standard for this type of legislation.
Next is a series of amendments to the Cape Breton Development Corporation Act that are of a housekeeping nature that reduces the number of directors on the board. Finally, there are consequential amendments to other acts.
It is now time to study these aspects of the bill in committee.