18
Third Session, 48th General Assembly 67 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

1. S.2 Amdt.
Definitions

2. Commencement

Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:

RSNL1990 cC-36
as amended

1. (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 Government of Canada and the government of the province dated July 7, 2016, any 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(3) Paragraph 2(y) of the Act is repealed and the following substituted: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.

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