Renewing Shareholder Democracy

March 23, 1999

Paul Latham Fraser Valley Comprehensive Health Council

lathamp@dowco.com

Dear Paul Latham:

I was recently forwarded a copy of the e-mail you sent to the Honourable Joy K. MacPhail, Minister of Finance and Corporate Relations, regarding Mark Lathamís "Corporate Monitoring Project". As the Deputy Minister responsible for Crown Corporations Secretariat (which is in turn responsible for oversight of a number of Crown corporations). I have been asked to respond.

The Corporate Monitoring Project is intriguing, although it does not have a great deal of practical application to the Crown corporation sector in British Columbia, mainly because government is already the sole shareholder for all Crown corporations and acts, through a Minister responsible, for the benefit of all British Columbians.

I should also note that Crown corporations in British Columbia already pursue a balance of economic and social policy objectives, appoint directors from outside (through Cabinet) and control the rate of pay for CEOís. This does not mean that there is no room for improvement in the overall governance of our Crown corporations, however, I believe a number of the positive solutions proposed by Mark Latham already form the basis for how Crown corporations operate in British Columbia.

Please pass on to Mark Latham my best wishes for the success of his project, and thank you for taking the time to pursue this idea with the government of British Columbia.

Yours truly,

ORIGINAL SIGNED BY DEPUTY MINISTER

Don Avison Deputy Minister

pc: Honourable Andrew Petter Minister of Advanced Education, Training and Technology

Honourable Joy MacPhail Minister of Finance and Corporate Relations

Chris Trumpy Deputy Minister Ministry of Finance and Corporate Relations

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