Third

Session, 48th General Assembly

Elizabeth II, 2018

BILL 18

AN ACT TO AMEND THE CORPORATIONS

ACT

Received

and Read the First Time ................................................................

Second

Reading ............................................................................................

Committee .....................................................................................................

Third

Reading ...............................................................................................

Royal

Assent .................................................................................................

HONOURABLE SHERRY

GAMBIN-WALSH

Minister of Service

Newfoundland and Labrador

Ordered to be printed by

the Honourable House of Assembly

EXPLANATORY NOTES

This Bill would amend the Corporations Act to

add

definitions for

"immigration agreement", "international entrepreneur" and

"international graduate entrepreneur"; and

expand the definition of

"resident Canadian".

A BILL

AN ACT TO AMEND THE CORPORATIONS ACT

Analysis

S.2 Amdt.

Definitions

Commencement

Be it enacted by the Lieutenant-Governor and

House of Assembly in Legislative Session convened, as follows:

RSNL1990 cC-36

as amended

(1) Section 2 of the Corporations Act is amended by adding immediately after paragraph

(

o) the following:

(o.1) "immigration agreement" means the

Canada-Newfoundland and Labrador Immigration Agreement entered into by the

amendments to that agreement and a successor agreement;

(2) Section 2 of the Act is amended by adding

immediately after paragraph (

q) the following:

(q.1) "international entrepreneur" means an

individual who is

(

i) a member of the international entrepreneur

category established in accordance with the immigration agreement, and

(ii) ordinarily resident in Canada ;

(q.2) "international graduate entrepreneur"

means an individual who is

(

i) a member of the international graduate

entrepreneur category established in accordance with the immigration agreement,

and

(ii) ordinarily resident in Canada ;

(3) Paragraph 2(

y) of the Act is repealed and the

following substituted:

(y) "resident

Canadian" means an individual who is

(

i) a

Canadian citizen ordinarily resident in Canada ,

(ii) a

Canadian citizen not ordinarily resident in Canada who is a member of a

prescribed class of persons,

(iii) a

permanent resident within the meaning of the

Immigration and Refugee Protection Act (Canada) and ordinarily resident in

Canada, except a permanent resident who has been ordinarily resident in Canada

for more than one year after the time at which he or she first became eligible

to apply for Canadian citizenship,

(iv) an

international entrepreneur, or

(

v) an international graduate entrepreneur;

Commencement

2. This Act comes into force on a day to be

proclaimed by the Lieutenant-Governor in Council.

Queen's Printer