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Bill C-4

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RECOMMENDATION

His Excellency the Governor General recommends to the House of Commons the appropriation of public revenue under the circumstances, in the manner and for the purposes set out in a measure entitled ``An Act to amend the Canadian Wheat Board Act and to make consequential amendments to other Acts''.

SUMMARY

This enactment makes changes to the Canadian Wheat Board in the areas of corporate governance and operational flexibility. It replaces the commissioner structure of senior management with a board of directors and a president. Once the first directors elected to the board assume office, the Canadian Wheat Board ceases to be an agent of Her Majesty; however, borrowings will continue to be guaranteed by the federal government. In the area of operations, the Canadian Wheat Board will be authorized to buy grain and reimburse farmers for grain on more flexible terms. A contingency fund, established by the Canadian Wheat Board, will support certain of these operations.