The Nova Scotia Legislature

The House resumed on:
September 21, 2017.

Bill No. 49

An Act to Improve Economic Development in Nova Scotia

An Act to Improve Economic Development in Nova Scotia

Introduced by:
Honourable Michel P. Samson
Minister of Economic and Rural Development and Tourism

First Reading
Second Reading Debates
Second Reading Passed
Law Amendments Committee
    Meeting Date(s) October 27, 2014
    Reported to the House
Committee of the Whole House
Third Reading Debates
Third Reading
Royal Assent
Commencement Upon proclamation; except s. 36: April 1, 2015
2014 Statutes, Chapter 33

Explanatory Note

Clause 1 renames the defined expression “financial assistance” as “business development incentive”.

Clause 2 replaces “financial assistance” with “business development incentives”.

Clauses 3 to 6

(a) update the title of the Minister of Finance and Treasury Board;

(b) update the name of the General Revenue Fund; and

(c) correct a typographical error.

Clauses 7 and 8 require that Film and Creative Industries Nova Scotia prepare and submit to the Minister of Economic and Rural Development and Tourism

(a) a five-year strategic plan, to be submitted no later than March 1, 2015; and

(b) both a five-year strategic plan and a five-year evaluation of its activities compared against the previous five-year strategic plan, to be submitted no later than September 30, 2019, and every five years thereafter.

Clause 9 requires that the activities and operation of Film and Creative Industries Nova Scotia be reviewed by an independent person appointed no later than June 30, 2019, and every five years thereafter, with the reviewer being required to recommend whether Film and Creative Industries Nova Scotia, and each of its activities, should be continued, reformed or discontinued.

Clause 10 replaces “financial assistance” with “business development incentive”.

Clause 11 corrects a reference to a federal statute.

Clause 12

(a) extends the Film Industry Tax Credit until December 31, 2020; and

(b) corrects a reference to a federal statute.

Clause 13

(a) extends the Digital Media Tax Credit until December 31, 2020; and

(b) corrects a reference to a federal statute.

Clause 14 provides for a capital investment tax credit.

Clause 15

(a) renames the defined expression “financial assistance” as “business development incentive”; and

(b) updates the title of the Minister of Economic and Rural Development and Tourism.

Clause 16

(a) replaces “financial assistance” with “business development incentive”;

(b) updates the title of the Minister of Finance and Treasury Board; and

(c) corrects a typographical error.

Clause 17 provides that the Nova Scotia Innovation Corporation must, where required to do so by the Minister of Economic and Rural Development and Tourism, accept the transfer of securities and assignment of agreements related to venture capital investments from Nova Scotia Business Incorporated.

Clause 18

(a) updates the titles of the Deputy Minister of Finance and Treasury Board and the Deputy Minister of Economic and Rural Development and Tourism; and

(b) allows a person designated by either of the deputy ministers to sit on the Board of Directors of the Nova Scotia Innovation Corporation in place of that deputy minister.

Clause 19 makes applicable to members of the board of directors of the Nova Scotia Innovation Corporation a provision of the Civil Service Act that requires the Government to defend and indemnify board members from liability.

Clause 20 updates the title of the Minister of Finance and Treasury Board.

Clause 21 requires that

(a) the Nova Scotia Innovation Corporation prepare and submit to the Minister of Economic and Rural Development and Tourism a strategic plan, to be submitted no later than March 1, 2015;

(b) the Corporation prepare and submit to that Minister both a five-year strategic plan and a five-year evaluation of its activities compared against the previous five-year strategic plan, to be submitted no later than September 30, 2019, and every five years thereafter; and

(c) the activities and operation of the Corporation be reviewed by an independent person appointed no later than June 30, 2019, and every five years thereafter, with the reviewer being required to recommend whether the Corporation, and each its activities, should be continued, reformed or discontinued.

Clause 22

(a) replaces “financial assistance” with “business development incentive”; and

(b) adds regulation-making powers respecting the transfer of securities and the assignment of rights and obligations under agreements.

Clause 23

(a) renames the defined expression “financial assistance” as “business development incentive”;

(b) removes equity investment from the meaning of “business development incentive”; and

(c) updates the title of both the Minister and the Department of Economic and Rural Development and Tourism.

Clause 24 allows a person designated by the Deputy Minister of Economic and Rural Development and Tourism to sit on the Board of Nova Scotia Business Incorporated in the place of the Deputy Minister.

Clause 25 allows the Minister of Economic and Rural Development and Tourism to extend the term of office of a director of Nova Scotia Business Incorporated by as much as one year, if the Board of Directors of Nova Scotia Business Incorporated so requests.

Clause 26 changes the quorum for the Board of Directors from seven members of the Board to a majority of the members.

Clause 27 makes applicable to members of the Board of Directors of Nova Scotia Business Incorporated a provision of the Civil Service Act that requires the Government to defend and indemnify board members from liability.

Clause 28 revises the object of Nova Scotia Business Incorporated to emphasize its role in working directly with businesses and clarify its role in promoting trade.

Clause 29

(a) replaces references to “Board” and “financial assistance” with “Corporation” and “business development incentive”, respectively;

(b) authorizes Nova Scotia Business Incorporated to undertake trade operations and programs, subject to the interprovincial and international trade policies of the Government of Nova Scotia and the Department of Economic and Rural Development and Tourism;

(c) authorizes Nova Scotia Business Incorporated to administer such aspects of programs undertaken by the Minister of Economic and Rural Development and Tourism as the Minister may direct; and

(d) allows Nova Scotia Business Incorporated to continue to deal with equity investments that it has made only in relation to businesses whose files are not being assigned to the Nova Scotia Innovation Corporation, which allowance includes the ability to make additional equity investments in such businesses.

Clause 30 provides that Nova Scotia Business Incorporated must, where required to do so by the Minister of Economic and Rural Development and Tourism, transfer securities and assign agreements related to venture capital investments to the Nova Scotia Innovation Corporation.

Clause 31 updates the title of the Minister of Finance and Treasury Board.

Clauses 32 and 33 require that Nova Scotia Business Incorporated prepare and submit to the Minister of Economic and Rural Development and Tourism

(a) a five-year strategic plan, to be submitted no later than March 1, 2015; and

(b) both a five-year strategic plan and a five-year evaluation of its activities compared against the previous five-year strategic plan, to be submitted no later than September 30, 2019, and every five years thereafter.

Clause 34 requires that the activities and operation of Nova Scotia Business Incorporated be reviewed by an independent person appointed no later than June 30, 2019, and every five years thereafter, with the reviewer being required to recommend whether Nova Scotia Business Incorporated, and each its activities, should be continued, reformed or discontinued.

Clause 35

(a) replaces references to “financial assistance” with “business development incentive”; and

(b) expands the regulation-making authority of the Governor in Council.

Clause 36

(a) allows the Minister to designate persons employed by the Department of Economic and Rural Development and Tourism to become employees of Nova Scotia Business Incorporated;

(b) provides that designated persons are entitled to all vacation leave accumulated, less any vacation arrears that accrued, while employed at the Department;

(c) provides that designated persons become subject to the collective agreement that exists between Nova Scotia Business Incorporated and the Nova Scotia Government Employees Union and a part of the bargaining unit represented by Nova Scotia Government Employees Union Local 44; and

(d) repeals a provision that prevents the period during which a designated person was a civil servant from being counted toward the 10 years of service after which, under the Labour Standards Code, an employee may not be dismissed or suspended without just cause.

Clause 37 sets out the effective date for a provision of this Act that does not come into force on Royal Assent.