Northern Canada Power Commission Yukon Assets Disposal Authorization Act

An Act to authorize the disposal of certain assets in the Yukon Territory that are held or used by the Northern Canada Power Commission and to provide for other matters in connection therewith Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows: Short title This Act may be cited as the Northern Canada Power Commission Yukon Assets Disposal Authorization Act. Definitions In this Act, agreement means the purchase and sale agreement respecting assets in the Yukon Territory held or used by the Commission and entered into by Her Majesty in right of Canada, as represented by the Minister, the Commission, the Corporation and the Government of the Yukon Territory, as represented by the Commissioner of the Yukon Territory; (accord) Commission means the Northern Canada Power Commission, a corporation established by the Northern Canada Power Commission Act; (Commission) Corporation means the Yukon Power Corporation, a wholly-owned subsidiary of the Yukon Development Corporation, a corporation established by an ordinance of the Yukon Territory; (Société) dispose, in respect of any territorial lands or other assets, includes to sell or lease the assets and to grant a licence or easement in respect of the assets; (aliénation) Electrical Company means The Yukon Electrical Company Limited, a corporation incorporated under the laws of the Yukon Territory; (société d’électricité) Minister means the Minister of Northern Affairs; (ministre) territorial lands means lands in the Yukon Territory that are vested in Her Majesty in right of Canada or of which the Government of Canada has power to dispose, whether or not the lands have been withdrawn from disposal under the Territorial Lands Act pursuant to paragraph 19(a) of that Act. (terres territoriales) Disposal by Minister For the purpose of carrying out the agreement, the Minister may, on such terms and conditions as the Governor in Council may, by order, approve, dispose of to the Corporation any territorial lands that are under the control, management and administration of the Minister. Provisions not applicable Sections 4, 7, 9 and 10 of the Territorial Lands Act and the Territorial Lands Regulations do not apply in respect of any territorial lands disposed of pursuant to this section. Execution of agreement The Minister may, by order, direct the Commission to execute the agreement and such other documents as are necessary for or incidental to the carrying out of the agreement and the Commission shall comply with the order. Disposal by Commission For the purpose of carrying out the agreement, the Minister may, by order, direct the Commission to dispose of, on such terms and conditions as are approved by the Governor in Council, to the Corporation any territorial lands, and any other assets in the Yukon Territory, that are under the control, management and administration of the Commission. Financial Administration Act authorization On receiving an order under subsection (2), the Commission is hereby authorized to dispose of assets in accordance with the order and shall comply with the order. Subsections 108(2) to (5) of the Financial Administration Act do not apply in respect of any disposal of assets authorized by subsection (3). [Repealed, 1992, c. 40, s. 50] Exemption from fees Notwithstanding the Yukon Waters Act, the Minister may, with the approval of the Governor in Council, make an order exempting the Corporation from the requirement to pay fees for the right to use waters or deposit waste pursuant to a licence under that Act. Forgiveness of debt The debts and obligations of the Commission due to Her Majesty in right of Canada in relation to the Commission’s operations in the Yukon Territory and the claims of Her Majesty in right of Canada against the Commission in relation to those operations, the aggregate principal amount of which debts, obligations and claims is one hundred and twenty-eight million, one hundred and twenty-six thousand, eighty-three dollars and fifty cents, and the interest accruing on that amount to the day on which this section comes into force are hereby forgiven and the amount, as recorded in the accounts of Canada on that day, of those debts, obligations and claims is hereby written off as a budgetary expenditure and deleted from those accounts. Application of proceeds The proceeds of sale in the amount of ninety-five million dollars referred to in the agreement shall be applied towards the writing off of the debts, obligations and claims referred to in subsection (1). Assignment of promissory note The Minister may assign or cause to be assigned to the Government of the Yukon Territory, as represented by the Commissioner of the Yukon Territory, the promissory note in the principal amount of nineteen million five hundred thousand dollars given by the Corporation in partial consideration for the assets disposed of to the Corporation pursuant to this Act. Promissory note written off Where the promissory note referred to in subsection (1) is assigned pursuant to that subsection, the principal amount of the note as recorded in the accounts of Canada on the day of the assignment is hereby written off as a budgetary expenditure and deleted from those accounts. Regulations not applicable The regulations made pursuant to subsection 18(1) of the Financial Administration Act do not apply in respect of any debt, obligation or claim written off by section 6 or 7. Report in Public Accounts The debts, obligations and claims forgiven or written off by section 6 or 7 in a fiscal year shall be reported, in such form as the Treasury Board may determine, in the Public Accounts for that year. Pension rights In the manner and to the extent provided by the regulations made under subsection (3), the Public Service Superannuation Act, the Supplementary Retirement Benefits Act and the regulations made under those Acts apply to a person who meets all of the following criteria: immediately prior to the coming into force of this section, the person was employed by the Commission and was a contributor under the Public Service Superannuation Act; the President of the Treasury Board has not made a payment to the pension plan of the Electrical Company pursuant to section 30 of the Public Service Superannuation Act in respect of that person; the person has not received or opted to receive any annuity or other benefit under section 11 or 12 of the Public Service Superannuation Act in respect of the pensionable service to that person’s credit under that Act immediately prior to the coming into force of this section; and the person elects, within one year after the coming into force of this section and in such form and manner as the President of the Treasury Board may direct, to have the Public Service Superannuation Act, the Supplementary Retirement Benefits Act and the regulations made under those Acts apply to that person in the manner and to the extent provided by the regulations made under subsection (3). Election irrevocable An election made pursuant to paragraph (1)(d) is irrevocable. Regulations The Governor in Council may, in relation to persons who have made elections pursuant to paragraph (1)(d), make regulations respecting the manner in which and extent to which provisions, as amended, of the Acts and regulations mentioned in subsection (1) apply; adapting provisions of those Acts and regulations for the purposes of this section; and generally for carrying out the purposes and provisions of this section. Retroactive application of regulations Regulations made under subsection (3) may, if they so provide, be retroactive and have effect with respect to any period before they are made. Reciprocal transfer agreements For greater certainty, for the purposes of section 30 of the Public Service Superannuation Act, the Electrical Company is deemed to be an approved employer within the meaning of that section. Agency status of Yukon Development Corporation The provision in the ordinance of the Yukon Territory establishing the Yukon Development Corporation that declares the Yukon Development Corporation to be an agent of the Government of Yukon shall not be repealed before the consideration for the assets disposed of to the Yukon Power Corporation pursuant to this Act has been fully paid. [Amendment] Coming into force Sections 6, 9 and 12 to 16 shall come into force on a day or days to be fixed by proclamation. [Note: Sections 6, 9 and 12 to 16 in force June 4, 1987, see SI/87-127.] Orders continued An order made under subsection 5(3) of the Northern Canada Power Commission Yukon Assets Disposal Authorization Act before the coming into force of this Act continues in force as if it had been made under that subsection as amended by this Act.