1992 BILL 249 Fourth Session, 22nd Legislature, 41 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL 249 HERITAGE SAVINGS TRUST FUND AMENDMENT ACT MR. GESELL First Reading Second Reading Committee of the Whole Third Reading Royal Assent Title: 1992 (22nd, 4th) Bill 249, Heritage Savings Trust Fund Amendment Act

Bill 249 Mr. Gesell BILL 249 1992

AN ACT TO AMEND THE ALBERTA HERITAGE SAVINGS TRUST FUND ACT (Assented to , 1992) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1 The Alberta Heritage Savings Trust Fund Act is amended by this Act. 2

Section 6(1) is amended by adding the following after clause (e): (

f) the making of investments which, in the opinion of the Investment Committee, or in the opinion of the Legislative Assembly expressed in a resolution of the Assembly, may yield a reasonable return or profit to the Trust Fund and will facilitate the protection, enhancement or sustainable development of the environment. 3

Section 6 is amended by adding the following after subsection (5): (5.1)Investments referred to in subsection (1)(f): (

a) shall be made or approved in accordance with the directions contained in a resolution of the Legislative Assembly, (

b) in the absence of any such directions, shall be made with the approval of the Investment Committee, and 1

Explanatory Notes 1 This Bill will amend

Chapter A-27 of the revised Statutes of Alberta. 2 This amendment will create an "Environmental Investment Division" of the Alberta Heritage Savings Trust Fund. 1

(

c) shall form the Environmental Investment Division of the Trust Fund. 4 This Act comes into force on Proclamation 2 Title: 1992 (22nd, 4th) Bill 249, Heritage Savings Trust Fund Amendment Act