Bill 104 (Legislature 15, Session 1)

L15 S1 1683

Alberta — Bills

No. 104 1st Session, 15th Legislature, Alberta 12 Elizabeth II BILL 104 A Bill to amend The Alberta Gas Trunk Line Company Act HON. MR. MANNING Pr.iIbted by L. S. WALL, Printer to the Queen's Most Excellent Majesty, Edmonton, Alberta, 1964

Explanatory Note I. The Alberta Gas Trunk Line Company Act, Statutes of Alberta 1954,

chapter 37, amended.

Section 5, clause (

c) presently reads: "5. The capital tock of tbe company shruB consist of (

c) five hundred thousand preferred shares of the par value of one hundred dollars with no voting rights attached to the shares.". 3. The new subsection (6) incorporates in the Act matters dealt with earlier this year in regulations. It will make it clear that there is a class of shareholders with "full voting rights under all circumstances" in order to comply with recent changes in the federal Income Tax Act concerning corporations having "a degree of Canadian ownership". 4.

The new subsection (4) will make it unnecessary for the government appointed shareholders to furnish affidavits estab lishing their right to vote at elections of directors. 5. Commencement of Act. Clause 3 of the Bill is made retro active to January 20, 1964, the date of filing of the regulation referred to in the note to that clause.

BILL No. 104 of 1964

An Act to amend The Alberta Gas Trunk Line Company Act (Assented to , 196~) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of AI:berta, enacts as follows: 1. The Alberta Gas Trunk Line Company Act is hereby amended.

Section 5, clause (

c) is amended by striking out the words Hfive hundred thousand" and by substituting the words "one million".

Section 12 is amended by adding the following sub section:

(6) The shareholders holding Class "B" Common Group IV shares have full voting rights under all circumstances which without restricting the generality of this subsection includes the right to vote such shares (

a) in any election of any of the directors referred to in

section 20, (

b) in any re-election of any such director held pur suant to subsection (2) of

section 22, and (

c) in any special election held pursuant to

section 25.

Section 21 is amended by adding the following sub section:

(4) This

section does not apply to shareholders holding Class "B" Common Group IV shares. 5. This Act comes into force on the day upon which it is assented to and upon so coming into force

section 3 shall be deemed to have been in force at all times on and after the twentieth day of January, 19'64.

FIRST SESSION FIFTEENTH LEGISLATURE 12 ELIZABETH II 1964 BILL \.n Act to amend The Alberta Gas Trunk Line Company Act Received and read the First time Second time ................................... . Third time ....................................... . HON. MR. MANNING Title: 1964 (15th, 1st) Bill 104,

An Act to amend The Alberta Gas Trunk Line Company Act

Document details

Collection	Alberta — Bills
Citation	L15 S1 1683
Type	bill
Volume / chapter	L15 S1 1683
Language	en
Format	json
Source	PROVINCIAL
Identifier	01112b2bd232e0952c463639d58faf8491b6d65a

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