Innovate BC Act

Innovate BC Act 415 1996 1944036832/96415/tlc96415_f E3tlc96415 Definitions 1 In this Act: agency means Innovate BC, the agency continued under this Act; president means the president of the agency. Innovate BC 2 1 Innovate BC is continued as an agency consisting of a no more than 15 directors appointed by the Lieutenant Governor in Council for a term not exceeding 3Â years, and b the president. 2 The Lieutenant Governor in Council may designate a chair from among the directors. 3 No person may be appointed under subsection (1) (a) to a term as director that, together with previous terms as director, would be longer than 6 consecutive years. Objectives of Innovate BC 3 The agency must do all of the following: a encourage development and application of advanced or innovative technology to meet the needs of industry in British Columbia including the implementation, administration and funding of programs and the organization and management of projects and initiatives that serve to further the objectives set out in this section; b consider all matters brought to its attention by the minister and if required by the minister report its findings to the minister; b.1 offer tools, resources and expert guidance to entrepreneurs and companies in British Columbia, including in respect of building capacity to access new markets and attract investment; c formulate recommendations to the government respecting the acquisition, development and dissemination of scientific, technological and scholarly knowledge to promote the industrial, economic and social development of British Columbia, d advise the government on implementation of science, technology and innovation policy; e gather and organize information on scientific research; f facilitate discussions on science, technology and innovation policy with Canada or a province or with an interested person; g recommend to the government the establishment and awarding of fellowships, scholarships, exhibitions, bursaries, grants and prizes to encourage development of improved technology and retention of skilled research personnel in British Columbia; h evaluate research and development proposals and make recommendations to the government respecting funding of these proposals. Grants and funding 4 The agency may a make an award described in section 3 (g) for the purposes referred to in that section, and b fund a proposal described in section 3 (h). Reimbursement and remuneration of directors of Innovate BC 5 Each director of the agency must be reimbursed for reasonable travelling and out of pocket expenses necessarily incurred in the discharge of duties under this Act and may be paid remuneration for services that the Lieutenant Governor in Council orders. President, officers and employees of Innovate BC 6 1 The agency must appoint the president and determine the remuneration and other terms and conditions of employment of the president. 2 The agency is responsible for the administration of the agency's business. 3 The agency may a appoint or employ officers and other employees the agency considers necessary to carry on its business and operations, b define the duties of these officers and other employees and, subject to the regulations, determine their remuneration and other terms and conditions of their employment, and c provide a system of organization to carry out the business of the agency. 4 The agency may delegate to the president a power or responsibility described by subsection (3). 5 The officers and employees appointed or employed under this section are officers and employees of the agency during the term of their appointment or employment. 6 Subject to this Act, the Public Service Act and the Public Service Labour Relations Act do not apply to the officers and employees of the agency. Transfer of public service or secretariat employees to Innovate BC 7 If immediately before appointment or employment under section 6 (3) an officer or employee of the agency had been confirmed in employment under section 6 of the Science Council Act , R.S.B.C. 1979, c. 379, or under the Public Service Act , the officer or employee is entitled to all accrued superannuation or pension plan benefits in respect of that employment and to full credit for contributions made by the officer or employee or attributable to the former employer on behalf of the officer or employee in respect of that employment. Public service seniority 8 An officer or employee of the agency who elects or has elected to be a public service employee under the Public Service Act , within 12 months after appointment or employment by the agency, retains service seniority in the public service for the period of office or employment with the agency. Application of other Acts 9 1 The Public Service Benefit Plan Act applies to the officers and employees of the agency. 2 The Public Service Pension Plan, continued under the Public Sector Pension Plans Act , applies to the agency, its officers and employees. Powers of Innovate BC 10 1 Subject to the regulations, the agency may a purchase material and equipment and maintain premises required by the agency, b regulate its own affairs and its practices and procedures, and c publish documents and other materials. 2 Subject to the regulations, and if authorized by the agency, the president or other officer may act on the agency's behalf for the purposes of subsection (1) (a) and (c) and of subsection (3) (a). 3 Despite any enactment but subject to the regulations, the agency may, on its own behalf, a engage or retain such persons as it considers necessary as consultants, experts or specialists and set their remuneration, and b in addition to money appropriated for the purposes of the agency by the Legislature, acquire money from any other lawful source and disburse, expend or otherwise deal with the money for the purposes of this Act. 4 Canadian or other rights to or in respect of a discovery, invention or improvement in an art, process, apparatus, machine, manufacture or composition of matter may be a acquired in the agency's own name, or b licensed, sold or otherwise granted or made available to others by the agency. 5 The agency may pay or receive royalties, fees or other payments for rights described in subsection (4). 6 The agency may invest money in its hands as permitted under the provisions of the Trustee Act respecting the investment of trust property by a trustee. Execution of documents by Innovate BC 11 A document required to be in writing, and to which the agency is a party, is deemed to be properly executed if the affixing of the agency's name is witnessed by a the signatures of the chair of the agency and one other director of the agency authorized by the agency, or b the signature of the president if authorized by the agency. Innovate BC is an agent of the government 12 1 The agency is for all purposes agent of the government and the powers of the agency may be exercised only as agent of the government. 2 The agency is, as agent of the government, a legal entity. Immunities 13 1 An action for damages because of anything done or omitted to be done in good faith under this Act must not be brought against a director, officer or employee of the agency a in the performance or intended performance of any duty, or b in the exercise or intended exercise of any power. 2 Subsection (1) does not absolve the government from vicarious liability for an act or omission of a the agency, b a director, officer or employee of the agency, or c a person who is subject to the direction of the agency, for which act or omission the government would be vicariously liable if this section were not in force. 3 Subsection (1) does not absolve the agency from vicarious liability for an act or omission of a person who is subject to the agency's direction for which act or omission the agency would be vicariously liable if this section were not in force. Exemption of Innovate BC from taxation 14 The agency is not liable to taxation except to the extent that the government is liable. Fiscal year end 15 The fiscal year end of the agency is March 31. Financial administration 16 1 The agency must establish and maintain an accounting system satisfactory to the Minister of Finance and must, whenever required by that minister, render detailed accounts of its revenues and expenditures for such period or to such day as that minister may designate. 2 Records of the agency must at all times be open for inspection by the minister or such other person as the minister may designate. 3 The Minister of Finance may direct the Comptroller General to examine and report to the Minister of Finance on any or all of the financial and accounting operations of the agency. 4 Unless the Auditor General is appointed in accordance with the Auditor General Act as the auditor of the agency, the agency must appoint a person authorized to be an auditor of a company under section 205 of the Business Corporations Act to audit and report on the accounts of the agency at least once each year. 5 The agency must, within 90 days of the fiscal year end, submit annually to the minister in a form approved by the minister a a report of the agency on its operations for the preceding fiscal year, b a financial statement showing the assets and liabilities of the agency as of the end of the preceding fiscal year, and c the annual report of the auditor of the agency. 6 The report and financial statement referred to in subsection (5) must be laid before the Legislative Assembly within 120 days after the end of the fiscal year for which the report and statement are made if the Legislative Assembly is then sitting, or within 15Â days after the opening of the following session. Money received by Innovate BC 17 Despite the Financial Administration Act , section 14 (1) of the Financial Administration Act does not apply to the agency, its officers or its employees for the purposes of this Act. Power to make regulations 18 The Lieutenant Governor in Council may make regulations referred to in section 41 of the Interpretation Act .