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Opposition Leader Gerry Reid says the Official Opposition will be
introducing nine amendments to strengthen the Fishery Products International
(FPI) Act currently being debated in the House of Assembly. "The FPI
amendments introduced by government certainly do not go far enough to
strengthen the Act," said Mr. Reid. "While some of these amendments are good
starting points, stronger language and more clarity is essential. The
amendments we will be introducing provide this language and clarity. We are
hopeful that the premier and his government will put aside their politics
and accept our suggestions on strengthening the Act on behalf of the people
of this province."
The amendments being put forward by the Opposition will ensure that FPI
cannot make decisions at will without the approval of the provincial
government. This includes decisions regarding the closure of fish plants and
the sale of assets inside and outside the province. The proposed amendments
also prohibit a direct competitor of FPI from sitting on the Board of
Directors and would allow the provincial government to appoint some
directors who will be able to monitor the day to day operations of the
company.
"After listening to the premier and the minister of fisheries over the
past several weeks, I fully expected government to bring forward much
stronger amendments. Unfortunately, this did not happen and it now appears
the premier is backing away from his strong language that suited his
interests just a few short weeks ago. If this government is serious about
strengthening the FPI Act, instead of merely paying lip service to the
issue, I suggest they acknowledge and accept our amendments.
"I hope the premier will give consideration to our concerns and listen to
the points raised during this debate. We feel our amendments would be a step
in the right direction and would ensure that the people who work for FPI
have some protection and stability."
Number 1
Amendment to Bill 32, AN ACT TO AMEND THE FISHERY PRODUCTS
INTERNATIONAL LIMITED ACT
I move that clause 1 of Bill 32 AN ACT TO AMEND THE FISHERY PRODUCTS
INTERNATIONAL LIMITED ACT be amended in the proposed subsection 7(1) by
deleting the words "a substantial" and replacing these words with "any" so
that the subsection 7 (1) of the Act will read;
7.(1) Except with the prior approval of the Lieutenant - Governor in
Council, neither FPI Limited nor Fishery products International Limited
shall, lease, exchange, mortgage, grant or assume a security interest
on, or otherwise dispose of, or allow or direct a subsidiary of it to
sell, lease, exchange, mortgage, grant or assume a security interest on,
or otherwise dispose of, any portion of an undertaking, property, assets
or business operation which relates to or carries on, in whole or in
part, the harvesting, processing or marketing of seafood.
Number 2
Amendment to Bill 32, AN ACT TO AMEND THE FISHERY PRODUCTS INTERNATIONAL
LIMITED ACT
I move that clause 1 of Bill 32 AN ACT TO AMEND THE FISHERY PRODUCTS
INTERNATIONAL LIMITED ACT be amended by adding the words "or close" after
the words "or otherwise dispose of" and before the words "a plant or other
processing facility" so that the subsection 7 (2) of the Act will read;
"(2) Notwithstanding subsection (1), except with the prior approval
of the Lieutenant-Governor in Council, neither FPI Limited nor Fishery
Products International Limited shall sell, lease, exchange, mortgage,
grant or assume a security interest on, or otherwise dispose of, or
allow or direct a subsidiary of it to sell, lease, exchange, mortgage,
grant or assume a security interest on, or otherwise dispose of or
close, a plant or other processing facility situated in the province,
and machinery and equipment located in the plant or processing
facility."
Number 3
Amendment to Bill 32, AN ACT TO AMEND THE FISHERY PRODUCTS INTERNATIONAL
LIMITED ACT
I move that clause 1 of Bill 32 AN ACT TO AMEND THE FISHERY PRODUCTS
INTERNATIONAL LIMITED ACT be amended in subsection 7(2) by deleting the
words "in the province" and replace these words with "anywhere" so that the
subsection 7(2) of the Act will read;
"(2) Notwithstanding subsection (1), except with the prior approval
of the Lieutenant-Governor in Council, neither FPI Limited nor Fishery
Products International Limited shall sell, lease, exchange, mortgage,
grant or assume a security interest on, or otherwise dispose of, or
allow or direct a subsidiary of it to sell, lease, exchange, mortgage,
grant or assume a security interest on, or otherwise dispose of or
close, a plant or other processing facility situated anywhere, and
machinery and equipment located in the plant or processing facility."
Number 4
Amendment to Bill 32, AN ACT TO AMEND THE FISHERY PRODUCTS INTERNATIONAL
LIMITED ACT
I move that clause 1 of Bill 32 AN ACT TO AMEND THE FISHERY PRODUCTS
INTERNATIONAL LIMITED ACT be amended by adding after the proposed subsection
7(4) the following;
"(5) In subsections (1) and (2) "property" and "assets" shall
include but not be limited to vessels, all physical property owned
by the companies anywhere, the marketing division of the companies
and all company quotas."
Number 5
Amendment to Bill 32, AN ACT TO AMEND THE FISHERY PRODUCTS INTERNATIONAL
LIMITED ACT
I move that clause 2 of Bill 32 AN ACT TO AMEND THE FISHERY PRODUCTS
INTERNATIONAL LIMITED ACT be amended to delete the proposed subsection 9 (4)
and replacing these words with;
"(4) No director shall serve as a director, officer or employee
of a competitor, customer or supplier of the company or be a major
shareholder of a competitor, customer or supplier, unless
specifically approved by the other members of the Board of Directors
by majority vote, and by the Government of Newfoundland and
Labrador, and otherwise as permitted by applicable law."
Number 6
Amendment to Bill 32, AN ACT TO AMEND THE FISHERY PRODUCTS INTERNATIONAL
LIMITED ACT
I move that clause 2 of Bill 32 AN ACT TO AMEND THE FISHERY PRODUCTS
INTERNATIONAL LIMITED ACT be amended by adding after the proposed subsection
9(6) the following;
(7) Two of the directors referred to in subsection 9(1) shall be
appointed by the Government of Newfoundland and Labrador.
Number 7
Amendment to Bill 32, AN ACT TO AMEND THE FISHERY PRODUCTS INTERNATIONAL
LIMITED ACT
I move that clause 2 of Bill 32 AN ACT TO AMEND THE FISHERY PRODUCTS
INTERNATIONAL LIMITED ACT be amended by adding after the proposed new
subsection 9(7) the following;
"(8) One of the directors referenced in 9 (6) shall be an
appointee of the Government of Newfoundland and Labrador appointed
pursuant 9(7)."
Number 8
Amendment to Bill 32, AN ACT TO AMEND THE FISHERY PRODUCTS INTERNATIONAL
LIMITED ACT
I move that clause 3 of Bill 32 AN ACT TO AMEND THE FISHERY PRODUCTS
INTERNATIONAL LIMITED ACT be amended by adding after the proposed subsection
14(3) the following;
"(4) The company shall establish a standing committee of the
Board on Corporate Responsibility. The purpose of the Corporate
Responsibility Committee shall be to review and define and monitor
performance of the Company’s responsibilities as set out in the FPI
Act and as a good corporate citizen. This shall include growth and
strengthening of the fishery in the province, maximum employment
stability, and resource stewardship. The Corporate Responsibility
Committee reports regularly to the Board and annually to the House
of Assembly."
Number 9
Amendment to Bill 32, AN ACT TO AMEND THE FISHERY PRODUCTS INTERNATIONAL
LIMITED ACT
I move that Bill 32 AN ACT TO AMEND THE FISHERY PRODUCTS INTERNATIONAL
LIMITED ACT be amended by adding immediately after clause 4 the following;
4.1 Article 13 (e) of the Act is amended by deleting the words
"The Directors of the Company shall have the power to determine,
which determination shall be final and binding upon all holders of
Securities of any class," and substitute the words, "The Government of
Newfoundland and Labrador shall have the power to monitor and enforce
that the Directors of the Company are properly determining and following
restrictions upon all holders of securities of any class,"
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