Governance Crown corporations are legal entities established by the Province of Nova Scotia as instruments of public policy. Unlike private-sector corporations, of which the main objective is the maximization of shareholder value, Crown corporations generally operate in an environment where they pursue multiple operational and public policy goals. The Nova Scotia Liquor Corporation was created in 2001 under the Liquor Control Act and has four legislated objectives:
- Promotion of social objectives regarding responsible drinking
- Promotion of industrial or economic objectives regarding the beverage alcohol industry in the province
- Attainment of suitable financial revenues to government
- Attainment of acceptable levels of customer service
Corporate governance refers to the process and structure for overseeing the direction and management of a corporation so that it carries out its mandate and objectives effectively. The legislative framework for the governance and accountability regime of the NSLC is set out in the Liquor Control Act and consists of a Minister responsible for the NSLC, a Board of Directors appointed by the Governor in Council, and a President and CEO who is appointed by Governor in Council based on the recommendation of the Minister. The Board of Directors consists of seven voting members, along with a Deputy Minister and the President, both of whom are non-voting members. The Board of Directors is responsible for ensuring that the affairs of the corporation are administered on a commercial basis and that all decisions and actions of the Board are based on sound business practices in accordance with the objects of the corporation.
The governance structure attempts to balance the NSLC's relationship with the government between the corporation's autonomy in day-to-day activities and the government's appropriate direction and control. The legislation places the Board of Directors at the centre of the governance regime for the NSLC. Under this governance regime, the board oversees the management of the corporation and holds management responsible for its performance; it is responsible for establishing the corporation's strategic direction, safeguarding the corporation's resources, monitoring corporate performance and reporting to the Minister and Legislature.
For information on the Board of Directors please click on the link below.
BOARD OF DIRECTORS PROFILES