|
|
|
|
|
|
This enactment provides for the continuance of the Canadian
National Railway Company under the Canada Business Corporations
Act and for the issuance and sale of shares of the Company to the public.
In doing so, it
|
|
|
|
(a) transfers the current shares of the Company from the Minister of
Finance to the Minister of Transport;
|
|
|
|
(b) provides for the transfer of specified property of the Company
from the Company to the Minister of Transport or to another Minister
or a Crown corporation designated by the Governor in Council;
|
|
|
|
(c) requires the articles of continuance of the Company to limit
ownership of voting shares by any one person, including associates,
to fifteen per cent of the issued shares and to specify that the head
office of the Company is to be in Montreal, Quebec;
|
|
|
|
(d) authorizes the Minister of Transport to acquire and dispose of
shares of the Company, to enter into agreements respecting the
shares, debts, obligations and security interests of the Company and
to pay amounts in respect of any such agreements; and
|
|
|
|
(e) provides for the continued application of the Official Languages
Act to the Company after privatization.
|
|