Legislation Creates Common Meaning for “Privatize"

Oct 26, 2016

The government has introduced legislation that will provide a legal definition for the term “privatize”.

“These changes clarify the meaning of the term when used in future and existing Saskatchewan Acts and regulations,” Justice Minister and Attorney General Gordon Wyant said. “This definition explains actions that would be considered privatization and recognizes the necessary flexibility for government to restructure Crown corporations while maintaining ownership.”

Under The Interpretation Amendment Act, 2016, privatize will now be defined, with respect to a Crown corporation, as the transfer to the private sector of all or most of the assets, transfer of operational control, or transfer of a controlling interest of the Crown corporation. The definition does not include dissolution of a Crown corporation or any other restructuring.

Previously, the lack of a legal definition had resulted in some uncertainty about the scope of The Crown Corporations Public Ownership Act, which lays out the legal steps government must follow for cases of privatization. The new definition does not change the government’s commitment to The Crown Corporations Public Ownership Act.

The legislation also contains amendments to ensure that the death of a Monarch will not create undue legal problems or complications in provincial legislation.

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