Crown Investments Corporation
Encyclopedia
Crown Investments Corporation (commonly known as CIC) is the holding company
used by the Government of Saskatchewan to manage their Crown Corporations
.
from the crown corporations was reinvested in others, or given back to the government. GFO was also used to invest government money into the various Crowns.
In 1978, the name was changed to Crown Investment Corporation.
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
used by the Government of Saskatchewan to manage their Crown Corporations
Crown corporations of Canada
Canadian Crown corporations are enterprises owned by the federal government of Canada , one of Canada's provincial governments or one of the territorial governments. Crown corporations have a long standing presence in the country and have been instrumental in the formation of the state...
.
History
CIC started out as the Government Finance Office (GFO) in 1947. Its job was to manage, direct investment, and return dividends of the various crown corporations to the Government. The profitsProfit (accounting)
In accounting, profit can be considered to be the difference between the purchase price and the costs of bringing to market whatever it is that is accounted as an enterprise in terms of the component costs of delivered goods and/or services and any operating or other expenses.-Definition:There are...
from the crown corporations was reinvested in others, or given back to the government. GFO was also used to invest government money into the various Crowns.
In 1978, the name was changed to Crown Investment Corporation.