1995 Legislative Session: 4th Session, 35th Parliament
FIRST READING
The following electronic version is for informational purposes only.
The printed version remains the official version.
MR. FRED GINGELL
HER MAJESTY, by and with the advice and consent of the Legislative Assembly of British Columbia, enacts as follows:
1 In this Act,
"Committee" means the Select Standing Committee of the Legislative Assembly on Finance, Crown Corporations and Government Services, or any other committee established in replacement or substitution thereof;
"Crown Corporation" means any crown corporation established under the laws of British Columbia;
"fiscal year end" means the last day of the fiscal period established for the Crown Corporation;
"representatives" means, with respect to each Crown Corporation, its President or Chief Executive Officer, as well as at least one member of its board of directors.
2 Within ninety (90) days of its fiscal year end, each Crown Corporation shall file with the Lieutenant Governor in Council an Annual Report in the form and content as prescribed by this Act.
3 Within 10 days of the filing of each Crown Corporation's Annual Report with the Lieutenant Governor in Council, the Minister responsible for the Crown Corporation shall:
(a) if the Legislative Assembly is then in session, table the Annual Report in the House; or
(b) if the Legislative Assembly is not then in session, file the Annual Report with the Clerk of the Legislative Assembly.
4 The Annual Report required under this Act shall consist of the financial statements of the Crown Corporation for the most recent fiscal period, prepared in accordance with generally accepted accounting principles and such other information as the Committee shall prescribe.
5 Upon the written request of the Committee, representatives of each Crown Corporation shall attend a meeting of the Committee at the date set out in the request to answer any questions of the members of the Committee about the respective Crown Corporation.
6 Compliance with this Act shall not relieve or diminish the responsibility of each Crown Corporation to report or file reports provided under any other statute, regulation, order or enactment.
7 This Act shall come into force upon proclamation.
Provincial Crown Corporations are owned by the citizens of British Columbia.
The Legislative Assembly, on behalf of the citizens of British Columbia, should hold all Provincial Crown Corporations accountability.
This Bill provides for an annual report to be filed by each Crown Corporation and for representatives of each Crown Corporation to annually appear before a Legislative Committee to answer questions with respect to the activities of the Crown Corporation which they represent.
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