BILL NO. 135

(as introduced)

2nd Session, 63rd General Assembly
Nova Scotia
68 Elizabeth II, 2019

 

Government Bill

 

Nova Scotia Power Privatization Act (amended)
and
Nova Scotia Power Reorganization (1998) Act (amended)

 

The Honourable Geoff MacLellan
Minister of Business

First Reading: April 3, 2019

(Explanatory Notes)

Second Reading: April 4, 2019

Third Reading: April 11, 2019 (LINK TO BILL AS PASSED)

Explanatory Notes

Clauses 1 and 2 require the head office and principal executive offices of Nova Scotia Power Incorporated to be in Nova Scotia.

Clause 3 removes restrictions on the ownership of voting shares of Emera Incorporated (formerly NS Power Holdings Incorporated) by non-residents and requires the head office and principal executive offices of Emera Incorporated to be in Nova Scotia.

An Act to Amend Chapter 8
of the Acts of 1992,
the Nova Scotia Power Privatization Act,
and Chapter 19 of the Acts of 1998,
the Nova Scotia Power Reorganization (1998) Act

Be it enacted by the Governor and Assembly as follows:

1 Clause 8(1)(g) of Chapter 8 of the Acts of 1992, the Nova Scotia Power Privatization Act, is amended by adding "as provided in Section 8A" immediately after "Province" in the last line.

2 Chapter 8 is further amended by adding immediately after Section 8 the following Section:

8A (1) In this Section, "head office and principal executive offices" means the offices at which the Chief Executive Officer of the Company and substantially all senior executives of the Company reporting to the Chief Executive Officer materially perform their duties.

(2) The head office and principal executive offices of the Company must be situated in the Province.

3 (1) Subsection 5(1) of Chapter 19 of the Acts of 1998, the Nova Scotia Power Reorganization (1998) Act, is amended by striking out "(c), (d)," in the third and fourth lines.

(2) Subsection 5(2) of Chapter 19 is amended by adding "and Section 8A" immediately after "(8)" in the first line.

 

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