B.C. Ferry Authority (Authority) is an independent, no-share capital corporation created under the Coastal Ferry Act (British Columbia) that holds the single issued voting share of British Columbia Ferry Services Inc. (BC Ferries), a company incorporated in British Columbia, which is subject to the Business Corporations Act (British Columbia). The provincial government is the holder of all of the preferred shares of BC Ferries. The Authority is responsible for appointing the Board of Directors of BC Ferries and for establishing compensation plans for the Directors and certain Executives of BC Ferries. Both the Authority and BC Ferries operate independently of the provincial government.