Summary

This bill removes the 15% ownership limit on voting shares in Information Services Corporation (ISC), allows the provincial government to appoint two directors to the ISC board annually regardless of share ownership, and adds new restrictions on ISC transferring intellectual property or assets outside Saskatchewan that would affect service agreements with the provincial government.

Information Services Corporation is a publicly traded company that manages Saskatchewan's land titles and corporate registries. Currently, no single shareholder can own more than 15% of ISC's voting shares, and the number of directors the provincial government can appoint to ISC's board depends on how many shares Crown Investments Corporation owns. This bill removes the ownership cap entirely, meaning any person or corporation could own 100% of ISC's voting shares. The bill also changes the government's board appointment power to a fixed two directors per year, disconnected from share ownership. Additionally, the bill prohibits ISC from transferring intellectual property or assets outside Saskatchewan if doing so would interfere with ISC's obligations under two 2023 service agreements with the provincial government (the Extension Agreement and the Amended and Restated Master Service Agreement). The bill also clarifies that the government's golden share can be preserved through corporate reorganizations. It comes into force by cabinet order.