HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of British Columbia, enacts as follows:

1 The title of the British Columbia Innovation Council Act, R.S.B.C. 1996, c. 415, is repealed and the following substituted:

INNOVATE BC ACT.

2 Section 1 is amended

(a) by adding the following definition:

"agency" means Innovate BC, the agency continued under this Act; ,

(b) by repealing the definition of "council", and

(c) in the definition of "president" by striking out "council" wherever it appears and substituting "agency".

3 Section 2 (1) is amended by striking out "The British Columbia Innovation Council is continued" and substituting "Innovate BC is continued as an agency".

4 Sections 3, 4, 6 and 8 to 17 are amended by striking out "council" wherever it appears and substituting "agency".

5 Section 3 is amended

(a) by adding the following paragraph:

(b.1) offer tools, resources and expert guidance to entrepreneurs and companies in British Columbia, including in respect of building capacity to access new markets and attract investment; , and

(b) in paragraphs (d) and (f) by striking out "science policy" and substituting "science, technology and innovation policy".

6 Sections 5 and 7 are amended by striking out "of the council" and substituting "of the agency".

7 Sections 6 (2), 10 (2) and (4) (a), 11 and 13 (3) are amended by striking out "council's" and substituting "agency's".

 
Transitional Provision and Consequential Amendments

Transition – British Columbia Innovation Council Act

8  (1) In this section, "agency" means the agency continued under section 2 (1) of the Innovate BC Act.

(2) The change to the name of the agency made under section 3 of this Act does not

(a) affect any of the rights or obligations of the agency, or

(b) render defective any legal proceedings by or against the agency.

(3) Any legal proceedings that may have been continued or commenced by or against the agency under the agency's former name may be continued or commenced by or against the agency under the agency's new name.

Financial Information Act

9 Schedule 1 of the Financial Information Act, R.S.B.C. 1996, c. 140, is amended by striking out "British Columbia Innovation Council Act" and substituting "Innovate BC Act".

Freedom of Information and Protection of Privacy Act

10 Schedule 2 of the Freedom of Information and Protection of Privacy Act, R.S.B.C. 1996, c. 165, is amended

(a) by striking out the following:

Public Body: British Columbia Innovation Council

Head: Chair , and

(b) by adding the following:

Public Body: Innovate BC

Head: Chair .

Commencement

11 This Act comes into force on the date of Royal Assent.