Bill 5 (Legislature 15, Session 3)

L15 S3 1309

Alberta — Bills

No.5 3rd Session, 15th Legislature, Alberta 14 Elizabeth II BILL 5 A Bill to amend The Co-operative Associations A'ct HON. MR. PATRICK Printed by L. S. WALL, Printer to the Queen's Most Excellent Majesty, Edmonton, A:lbe1"ta, 1966

Explanatory Note I. This Bill amends

chapter 59 of the Revised Statutes.

Section 21a is a new provision and defines the duties and powers of the auditor appointed pursuant to subsections (8) and (9) of the present

section 21. It also confers on him a right to notice of meetings, to attend and be heard about certain matters at meetings, and imposes upon him the obligation to attend such meetings if required.

BILL No.5 of 1966

An Act to amend The Co-operative Associations Act (Assented to , 1966) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. The Co-operative Associations Act is hereby amended. 2. The following

section is added after

section 21: 21a.

(1) The auditor shall make such examinations and enquiries as will enable him to report to the memhers as required under suhsection (2).

(2) The auditor shall make a report to the members on the financial statenlent to be laid before the association at any annual meeting during his term of office and the report shall include his opinion as to whether the financial statement referred to therein presents fairly the financial position of the association and the results of its operations for the period under review in accordance with generally accepted principles applied on a 'basis consistent with that of the preceding period.

(3) The auditor, in -his report, shall also make such statements as he considers necessary in any case where (

a) the financial statement of the association is not in agreement with the accounting records, or (

b) the financial statement of the association is not in accordance with the requirements of this Act, or (

c) he has not received all the information or explana tion that he has required, or (

d) his examination indicates that proper accounting records have not been kept.

(4) The auditor of an association is empowered to have, at all times, access to all records, documents, books, ac counts and vouchers of the association, and is entitled to re quire from the directors and officers of the association such infor,mation and explanations as in his opinion are necessary to enable him to report as required by subsection (2) .

Section 55 is replaced bya new

section which gives the Minister the additional discretion of calling a general meeting of an association himself or of appointing the Supervisor to be official director and thus act as an interim administrator of an associ ation.

Section 56 indicates the functions of the Supervisor acting as official director, and

section 57 re-enacts subsections (2) and (3) of the present

section 55. 2

(5) The auditor of an association is entitled to attend any , meetings of the association, and to be heard at any such meeting in respect of any rpart of the business of the meeting that concerns him as auditor.

(6) The person responsible for giving notice of the meet ings referred to in subsection (5) shall notify the auditor of any such ,meetings, unless the auditor eXlpressly waives such notice.

(7) An association, upon receipt, not less than seven days before a meeting of members, of a written arpplication of not less than ten per cent of the members of the associa tion that the auditor of the association be requested to attend the meeting, sha1l forthwith in writing request the auditor to attend that meeting, and the auditor shall so attend.

Section 5,5 is struck out and the following sections are substituted: 55. Where it appears to the Minister from the report of the Supervisor made after investigation, that the affairs of an association (

a) are being mismanaged, or (

b) are not being conducted in accordance with co operative principles, or (

c) are being conducted on an unsound basis, the Minister 'may, in his discretion, (

d) cancel the incorporation of the association, or (e) 'call a general ,meeting of the association, or (

f) appoint the Supervisor as the official director of the association, or (

g) direct the Supervisor to ca1l a general meeting of the association. 56.

(1) Where the Supervisor is appointed official di rector pursuant to clause (

I) of

section 55 he is thereupon empowered to take over the functions of the board of directors, and the board of directors shall be considered to 'be removed from office, but nothing in this subsection excuses the board of directors ,frbm ensuring that all books, records, funds and other effects and information required by the official director are turned over to him without delay.

(2) The Supervisor's appointment as official director shall endure either for a period of time fixed in the order making the appointment or for any period of time which the Minister in his discretion considers necessary.

(3) Immediately prior to the termination of his appoint ment the official director shall call a general meeting of the association and at the meeting shall 2 (

a) render an accounting for the period of his ad ministra tion, and

4. Commencement of Act. 3

(

b) conduct an election to reconstitute the board of directors. 57.

(1) Where the Minister directs the Supervisor to call a 'general ,meeting of the association pursuant to clause (

g) of

section 55, the Supervisor shall thereupon (

a) call a general meeting of the members by advertis ing a notice of the ,meeting in a newspaper circulat ing in the district where the association has its registered office or main pla,ce of business, in an issue pUlblished at least five days hefore the date of the ,meeting, (

b) attend the meeting and submit to the ,meeting his report, and any other information he has with reference to the affairs of the association, and (

c) after the meeting submit a report thereon to the Minister.

(2) After receiving the report the Minister may, H in his opinion it is advisaJble to do so, direct that the affairs of the association be wound-up and appoint the Supervisor the liquidator for that purpose. 4. This Act comes into force on the day upon which it is assented to. 3

No.5 THIRD SESSION FIFTEENTH LEGISLATURE 14 ELIZABETH II 1966 BILL

An Act to a,mend The Co-operative Associations Act Received and read the First time .......................... . Second time ..................................... . Third time ....................................... . HON. MR. PATRICK Title: 1966 (15th, 3rd) Bill 5,

An Act to amend The Co-operative Associations Act

Document details

Collection	Alberta — Bills
Citation	L15 S3 1309
Type	bill
Volume / chapter	L15 S3 1309
Language	en
Format	json
Source	PROVINCIAL
Identifier	0ba75368c02d7f35911fd7bd37a3c1dade919c20

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