SUMMARY

The purpose of this enactment is to enable the Minister of Transport to sell the shares of VIA Rail.

It transfers the existing shares into the name of the Minister in trust for the Crown. It also allows the company to issue other shares. Sale of all shares must be on terms satisfactory to the Minister of Transport and the Minister of Finance.

It also authorizes the Minister to enter into agreements to sell the existing or later issued shares of the company and sell or settle its debts or obligations.