Whereas the Canadian National Railway Company is a parent Crown Corporation;
Whereas Terra Nova Telecommunications Inc. is a wholly-owned subsidiary of the Canadian National Railway Company;
And Whereas the Governor in Council, pursuant to subsection 101(6)* of the Financial Administration Act, is satisfied that the Canadian National Railway Company is otherwise empowered, pursuant to section 31 of the Canadian National Railways Act, to undertake the transaction described in the annexed Order. S.C. 1984, c. 31, s. 11
Therefore, Her Excellency the Governor General in Council, on the recommendation of the Minister of Transport and the Treasury Board, pursuant to paragraph 101(1)(d)* and subsection 101(7)* of the Financial Administration Act, is pleased hereby to make the annexed Order authorizing the sale by the Canadian National Railway Company of all the issued and outstanding shares of the capital stock of Terra Nova Telecommunications Inc.
Short Title
This Order may be cited as the Terra Nova Telecommunications Inc. Shares Sale Order.
Authorization
The Canadian National Railway Company is hereby authorized to sell to Newfoundland Telephone Company Limited, on or before September 1, 1989, all the issued and outstanding shares of the capital stock of Terra Nova Telecommunications Inc.