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Crown corporations of Canada

 
Wikipedia: Crown corporations of Canada
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Canadian Crown corporations are state-owned enterprises within either the federal or provincial and territorial jurisdictions of Canada. Crown corporations have a long standing presence in the country and have been instrumental in the formation of the state. As they are presently involved in everything from the distribution, use, and price of certain goods and services, to energy development, resource extraction, public transportation, cultural promotion, and property management, Crown corporations remain prevalent in Canada.

Contents

Structure

In Canada, Crown corporations, within either the federal or provincial sphere, are technically operated by the Canadian monarch, as the institution's sole shareholder, either as the Monarch-in-Right-of-Canada or the Monarch-in-Right-of-[Province]. This follows the legal premise that the Crown, as an institution, owns all the property of government at the federal and provincial level. In practice, however, most Crown corporations operate at arm's length from the government, with direct government control only being exerted over the corporation's budget and the appointment of its chairperson and directors through Order-in-Council.

History

The earliest Crown corporations in Canada date to early European settlement by Scotland, England and France. Much of the colonial territory was de facto settled and governed by the appointed managers of the corporations, often themselves called Governors. The first colonies on the island of Newfoundland were founded in this manner, between 1610 and 1728.

The Hudson's Bay Company coat of arms.

Perhaps Canada's most famous, and influential, Crown corporation was the Hudson's Bay Company (HBC), founded on May 2, 1670, by Royal Charter of King Charles II (although HBC is not, and never has been, government owned). The HBC became the world's largest land owner, at one point overseeing 7,770,000 km² (3,000,000 square miles),[1] territories that today incorporate the provinces of Manitoba, Saskatchewan and Alberta, as well as Nunavut, the Northwest Territories, and the Yukon. The HBC thus often being the point of first contact between the colonial government and First Nations. By the late 19th century, however, the HBC lost its monopoly over Rupert's Land and became a fully privatised company. During the earlier part of the century, many British North American colonies that now comprise the Canadian federation had Crown corporations, often in the form of railways, such as the Nova Scotia Railway, since there was limited private capital available for such endeavours.

At the same time as the HBC was declining in influence and power, other Crown corporations were growing in its place. One of the most significant of that era was the Canadian National Railway (CNR), which spawned Air Canada, the Canadian Broadcasting Corporation (CBC), VIA Rail, and Marine Atlantic. Today, Canada Post Corporation is an example of a functional department being realigned into a Crown corporation, while the Business Development Bank of Canada and Export Development Canada are modern examples of Crown corporations.

The importance of Crown corporations in the economy has declined in recent years, as a number of significant privatizations have occurred, particularly at the federal level. The heyday of government use of Crown corporations was the period from Confederation (the Intercolonial Railway being the first federal Crown corporation) through 1988 (the privatization of Air Canada).

List of Canadian Crown corporations

Federal

Provincial

This list is incomplete; you can help by expanding it.

Alberta

British Columbia

Manitoba

New Brunswick

Newfoundland and Labrador

Nova Scotia

  • Art Gallery of Nova Scotia
  • Halifax-Dartmouth Bridge Commission
  • InNOVAcorp
  • Nova Scotia Agricultural College (though currently a department of the Department of Agriculture, it is currently in the process of transformation to a crown corporation by 2011.)
  • Nova Scotia Arts Council
  • Nova Scotia Beef Commission
  • Nova Scotia Business Incorporated
  • Nova Scotia Crop and Livestock Insurance Commission
  • Nova Scotia Farm Loan Board
  • Nova Scotia Film Development Corporation
  • Nova Scotia Gaming Corporation
  • Nova Scotia Harness Racing Incorporated
  • Nova Scotia Liquor Corporation (NSLC)
  • Nova Scotia Municipal Finance Corporation (NSMFC)
  • Nova Scotia Power Finance Corporation
  • Nova Scotia Resources Limited
  • Rockingham Terminal Inc.
  • Sydney Environmental Resources Limited
  • Sydney Steel Corporation
  • Tidal Power Corporation
  • Trade Centre Limited
  • Waterfront Development Corporation Limited

Ontario

Quebec

Saskatchewan

Territorial

Privatized ex-Crown corporations

See also: List of privatizations, Category:Former Crown corporations of Canada

Several Canadian companies used to be Crown corporations but are now privatized, examples being:

*Organized as a privately-held corporation, but still owned by the provincial government

See also

References

  1. ^ Galbraith, John S. (1957). The Hudson's Bay Company As An Imperial Factor 1821-1869. Berkeley and Los Angeles: University of California Press. 

External links


This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)

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