Bill S-225

SUMMARY

This enactment amends Part 18 of the Jobs and Economic Growth Act to set out new terms and conditions for the reorganization and divestiture of Atomic Energy of Canada Limited. The enactment provides for the privatization of the corporation with certain restrictions on the control of its voting shares by foreign residents. It stipulates that the responsible Minister must retain ownership of seventy percent of those shares. It provides measures for the protection and transition of the corporation’s employee pension plan.

The enactment makes consequential amendments to the Access to Information Act, the Financial Administration Act, the Federal-Provincial Fiscal Arrangements Act and the Payments in Lieu of Taxes Act.