Mr. Chairman, the Standing Committee on Legislation has completed its review of Bill 7, An Act to Amend the Co-operative Associations Act.
Bill 7 proposes to amend the current legislation to provide a mechanism for cooperative associations to increase their capital through the issuing of preferred shares. Nevertheless, Bill 7 is primarily composed of amendments of a housekeeping nature.
Bill 7 would amend the legislation to make more specific the step-by-step procedures that are necessary to: obtain certificates of extra-territorial registration; make or modify association by-laws; amend or alter the associations' memorandum of association; and amalgamate associations.
Bill 7 proposes to provide the Minister with the authority to order an inquiry into the affairs of an association and the authority to order the registrar to dissolve an association or appoint an administrator to an association. Currently, these authorities are granted to the Commissioner.
During the standing committee's public review of the amendments contained in Bill 7, the committee noted that the bill did not include an amendment for the Minister to designate the supervisor position and the registrar position. These appointments are currently made by the Commissioner. Members of the standing committee felt that, for consistency and accountability, the Co-operative Association Act should be amended to allow the Minister of Justice and the Minister of Economic Development and Tourism to appoint incumbents to the positions of registrar and supervisor, respectively.
Therefore, the Standing Committee on Legislation recommends that the Cooperative Associations Act be amended to allow the Minister of Justice to appoint the Registrar of Cooperative Associations and the Minister of Economic Development and Tourism to appoint the Supervisor of Cooperative Associations.
This concludes the Standing Committee on Legislation's report on the review of Bill 7, An Act to Amend the Co-operative Associations Act.