SUMMARY

This enactment provides authority for the disposition of all or substantially all of the assets of the Cape Breton Development Corporation (the ``Corporation'') and provides for the dissolution and winding up of the affairs of the Corporation. The purpose is to enable a private sector operator to acquire the mining assets of the Corporation so that the federal government can exit the coal mining business in Cape Breton and to provide for the continuation of the existing jurisdictional regimes for labour relations, occupational safety and health, and labour standards. Consequential amendments are proposed to the existing legislation to remove provisions that are no longer applicable, to provide for a reduced board of directors in the future, and to permit legal actions to be brought against the Crown.