OC2008-230
2008-08-11
Natural Resources
Transparency and Accountability Act; Energy Corporation Act
Under the authority of section 10 of the Transparency and Accountability Act and section 14.1 of the Energy Corporation Act, the Lieutenant Governor in Council hereby authorizes the creation of the Oil and Gas Corporation of Newfoundland and Labrador Inc., to be incorporated under the Corporations Act as a non-Crown agent subsidiary of the Energy Corporation of Newfoundland and Labrador, with the objects, powers, governance structure and authority to borrow money and incur debt as outlined in the Schedule on file with the Clerk of the Executive Council. The Minister of Natural Resources is directed to issue a public statement further to section 10 of the Transparency and Accountability Act. The Energy Corporation of Newfoundland and Labrador is directed to inform the Clerk of the Executive Council on the appointment of a chief executive officer by the Board of Directors of the Oil and Gas Corporation of Newfoundland and Labrador Inc.