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Purchaser: Crown Investments Corporation of Saskatchewan
Name: Denise Parisian
Phone: (306) 787-9097
Fax: (306) 787-0294
Email: dparisian@cicorp.sk.ca
   
Record Last Updated: April 19, 2010
Crown Investments Corporation of Saskatchewan (CIC) is the financially self-sufficient holding company for 11 subsidiary commercial Crown corporations. CIC's main duties are to: establish the strategic direction for subsidiary Crown corporations through effective governance and performance management; and enhance Saskatchewan's long term economic growth and diversification through Crown corporations. CIC has been in existence in one form or another for more than 50 years. The corporation was established in 1947 as the Government Finance Office (GFO). Its mandate was to act as a holding company for many of the province's Crown corporations and to be a mechanism for developing broad policy control, directing investment, and routing dividends into the government's consolidated fund. Crowns received their financing through advances from the GFO, and any profits they made were returned. The profit pool held by the GFO was then either reinvested in other Crowns or paid as a dividend to the provincial government. In 1978, a new Crown Corporations Act renamed the GFO to Crown Investments Corporation of Saskatchewan. The Crown Corporations Act, 1993, is the current governing legislation.