Government Introduces Legislation to Repeal Provisions of Bill 40
Deputy Premier and Justice Minister Don Morgan introduced legislation today to reverse changes made as a result of Bill 40 that was passed last spring.
“We have listened to Saskatchewan people and are making these changes because of what we heard,” Morgan said. “Saskatchewan people were concerned about this legislation and the potential sale of even a small stake in a Crown corporation.”
This legislation will repeal the provisions implemented by Bill 40 that allow for the sale of a partial equity position of a Crown corporation.
“We have said from the beginning that when we make a mistake, we will admit that mistake and take action to correct it,” Morgan said.
The Interpretation Act, 1995 is being amended to repeal the recently-added definition of “privatize” and to repeal the ability to add additional methods of transfer of control that would constitute privatization by regulation. Instead, the term “privatize” will simply be defined to confirm that it does not include a winding-up and dissolution of a Crown corporation.