Bill 39 (Legislature 9, Session 2)

L9 S2 7775

Alberta — Bills

Bill No. 39 of 1942. A BILL TO AMEND THE JUDICATURE ACT. NOTE. This amendment to The Judicature Act provides a statu tory period of redemption of one year under orders made in the a,ctions for foreclosure of a mortgage or for specific performance of an agreement for sale with power to the judge to decrease or increase the period of redemption for proper cause. It also provides for the extension of the period of re demption in orders made prior to the passing of the Act in cases where no final vesting order has been granted. w. S. GRAY, Acting Legislative Counsel. (This note does not form any part of the Bill but is offered in explanation of its provisions.)

BILL No. 39 of 1942.

An Act to amend The Judicature Act. (Assented to , 1942.) HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. This Act may be cited as "The Judicature Act Amend ment Act, 1942." ~.:t, 2. The Judicature Act, being

chapter 72 of the Revised Statutes of Alberta, 1922, is hereby amended as to

section 35 by adding immediately after paragraph (dd) the fol lowing new paragraph: "(ddd) (

i) Notwithstanding the terms of any order nisi heretofore granted in an action for foreclosure of a mortgage or of any order for specific per formance heretofore granted in an action in respect of any agreement for sale of land in any case where no final vesting order has been granted the time for redemption under any such order shall be extended for a period of one year from the date of the ,coming into force of this Act; "(ii) In any action for foreclosure of a mortgageOr for specific performance of an agreement for sale commenced before or after the passing of this Act, the time to be fixed for redemp tion by the order nisi in the case of a mort gage or by the order for specific performance in the case of an agreement for sale shall be one year from the date of the granting of the order: "Provided, however, that in any action coming under the provisions of clauses (

i) or (ii) of this paragraph the judge may on ap plication decrease or extend the said period of redemption having regard to the following circumstances: "(

a) in case the action is in respect of a secur ity on farm lands, the ability of the debtor to pay, the value of the land in cluding the improvements made thereon, the nature, extent and value of the secur-

2 ity held by the creditor, and whether the failure to pay was due to hail, frost, drought, agricultural pests or other con ditions beyond the control of the debtor; .. (

b) in case the action is in respect of a security on urban lands, the ability of the debtor to pay, the value of the land including the improvements made there on, the nature, extent and value of the security held by the creditor, the earn ing capacity of the debtor, and whether the debtor's failure to pay was due to temporary or permanent unemployment, or other conditions beyond the control of the debtor. "(iii) Nothing contained in this paragraph shall apply to any action authorizel by a permit granted by the Debt Adjustment Board." 3. This Act shall come into force upon a date to be fixed by proclamation of the Lieutenant Governor in Council.

No. 39. SECOND SESSION NINTH LEGISLATURE 6 GEORGE VI 1942 BILL

An Act to amend The Judicature Act. Received and read the First time Second time .. Third time ....................................... . RON. MR. MAYNARD. EDMONTON: A. Shnltka. King's Printer 1942 Title: 1942 (9th, 2nd) Bill 39,

An Act to amend The Judicature Act

Document details

Collection	Alberta — Bills
Citation	L9 S2 7775
Type	bill
Volume / chapter	L9 S2 7775
Language	en
Format	json
Source	PROVINCIAL
Identifier	04c41159367e83ef00a0a3e175af0cb437ae59c2

Source file is stored in the law ingest library (json).