November 12, 2010

Parliamentary committee studying Bill 123

The IGPPO, through its chairman of the board and general manager presented a brief to the Committee on Public Finance regarding Bill 123, an Act Respecting the Amalgamation of the Société Générale de Financement du Québec and Investissement Québec.

This brief details the Institute’s comments on the legislation as well as a set of concrete suggestions.

Committee members noted their appreciation for the IGPPO’s remarks, which defended the autonomy of “new” Investissement Québec’s board of directors.

According to Mr. Allaire and Mr. Nadeau, Bill 123 leaves too many discretionary powers in the hands of the minister and the government.

Bill 123, an Act Respecting the Amalgamation of the Société Générale de Financement du Québec and Investissement Québec was tabled in Quebec’s National Assembly on October 28th, 2010 by Clément Gignac, the minister of economic development and export trade.