Under the new Halifax Convention Centre Act, the province and the Halifax Regional Municipality would establish a corporation to manage and operate the facility and they would jointly appoint a board of directors.
Economic Development Minister Michel Samson says the 10-member board would set and implement the strategic direction for the corporation.
The corporation would replace the Crown-run Trade Centre Ltd.
The legislation requires the corporation to report to both levels of government with annual audited financial statements.
A report on the effectiveness and competitiveness of the convention centre's operations would also have to be submitted every five years.