Bill 34 (Legislature 4, Session 1)

L4 S1 9723

Alberta — Bills

BILL No. 34 of 1918.

An Act to amend The Trust Companies Ordinallce. (Assented to , 1918.) HIS Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts [)'s follows: The Trust Companies Ordinance, being

chapter 15 of the Ordinances of the North-West Territories, 1\")03, is hereby amended gS follows: 1. By repealing

section 9 thereof and by substituting therefor tLc following: "9. Eve:ry b'ust company shall, on or before the first day of March in each year, prepare and transmit by regis tered post to the Minister a statement setting forth, as of the thirty-first day of December preceding, the capital stock of the company, the portion thereof paid up, a list of the company's shareholders, the assets of the company which 3,re its absolute property and liabilities in respect thereof, the liabilities of the company to the public in its trustee capacity and the investments and holdings of the company on trust account, and such other details as the form hereinafter mentioned and the Minister require. "

(2) The statement shall be in the form in

schedule B to this Act, and shall be signed and declaration made by the president or vice-president and by the manager or secretary 'as in the form prescribed. "

(3) The Minister may make such changes in the form of statement (whether such changes are of general application or are in the opinion of the Minister necessary to meet the drcumstances of any particular case) as he may deem best adapted to elicit any information considered necessary or desir9"ble, and the form as changed shall be signed and declared to as hereinbefore prescribed." 2. By adding thereto the following sections: "10.

The Lieutenant Govemor in Council may at any time and from t.ime to t.ime, when he deems it. expedient so to do, appoint an inspector to examine the affairs of the company and report to him upon the security afforded to those by and for whom its engagements are held; and for the purpose of such inquiry the inspector shall possess all the powers conferred upon commissioners under

An Act Respecting Inquiries Concerning Public Matters, being

chapter 2 of the Statutes of Alberta, 1908. The expense of the investigation shall be bome by the company. "11. Every director, officer and servant of the company who refuses to produce for examination to an inspector appointed under this Act to investigate the affairs and management of the company all books and documents in his custody or control shall be guilty of an offence and liable on

summary conviction to a penalty not exceeding fifty dollars and costs.

2 "12. E\'ery company which neglects to prepare and transmit to the Minister on or before the first day of March in each year a statement verified as required by this Act and setting forth the particulars as to capital stock, assets and liabilities, and such other details as are by this Act required, shall incur a penalty of twenty dollars for each and every day during which such neglect continues. "13.

The amount of the penalties imposed upon a company or person for any violation of this Act shall, unless otherwise provided by this Act, be recoverable and enforceable with ('osts at the suit of His Majesty instituted by the Attorney General or by the Minister, and such penaltieR shall belong to the Crown for the public uses of Alberta. "

SCHEDULE B. (Section 9.) ANNUAL STATEMENT for the year ending December 31, 19 .. On the financial position ann the condition of the affairs of ............... . Head Office ..................... . President. . . . . . . . . . . . . . . . . . . . . . . . . . Secretary ..................... . Vice-President. ................... Manager ..................... . Date of incorporation. . . . . . . . . . . . . . . Date of commencement of business Statute under which incorporated ..................................... . I.-CAPITAL. Amount of capital stock authorized-preferred stock ......... . $ ........ .

Amount of capital stock authorized-common stock ......... . Amount subscribed for-preferred ......................... . Amount subscribed for-common .......................... . Amount paid up in cash-preferred ........................ . Amount paid up in cash-common ........................ . Share warrants exchangeable for capital stock ............... . Dividend declared during the year ...... rate ...... amount .. . LIST OF SHAREHOLDERS AS AT DECEMBER 31, 19 ... Amount of NAME RESIDENCE capital stock Amount subscribed paid thereon for in cash (To be given in a separate

schedule attached, and if the company has issued preferred stock, a list of shareholders of preferred and common stock is to be separately given.) LIST OF DIRECTORS. Asat ..................... 19 ... . (Date of filing of statement.) ASSETS OF THE COMPANY Only items which are the absolute property of the company are to be herein included. 1. Book value of office premises held by the company ....... . (The location and cost and market value of each piece to be given. Any incumbrances thereon to be deducted.) 2. Amount of loans on real estate secured by mortgage ...... . (Detailed statement of loans to be given in a separate schedule.) $ ........ .

3 3. Governmpnt, municipal, sellool and lp.lp.phone Rp.curiti('s- (

a) owned ........................................ . (

b) amount loaned n,p;ainst. . .................... . (Pnrticubrs thercof with par and market valucs, date of maturity nnd rnt.e of int.erest to be given in a separate scheduh) 4. Loaned against- (

a) bank stocks ................................... . (

b) stocks or incorpor"ted companics ................ . (

r) RP('\ll'it.i!'R or incorporated cOlllpanips .............. . (Particulars t1l('re,)r wit.h par ami market vallIeR :md rate of dividend to be given in a separate schedule.) 5. Cash on hn.nd.. . ................................... . 6. Cash in banks (specify b[Ll1k:~, with deposits in each) IOTAL .................... . OTHER ASS~}TS. 7. Market value of real cstate, government securities, etc., owned over book value. (If under a deduction to be made) ............................................ . 8. Interest due-- (

a) more than Rix months (p:trtieulars in separate schedule) (

b) less t,]Jan six months .............................. . 9. Proportiomtte part to (htte of stat.ement of interest accruing due .............................................. . 10. Office fnrllitum an(1 fixturf>s ........................... . 11. Unpaid fpps and remunera.tion for services. . ......... . 12. All other property belonging to the company (with details thereof in a separate schedule) ...................... . Total assets of the company ............ . LIABILITIES OF THE COMPANY. To SHAREHOLDERS. 1. Capital stock fully paid up ............................ . 2.

Capital stock subscribed ($ ... '.' ..... ), on which has been paid ............................................. . 3. Reserve fund ........................................ . 4. Dividends declarr>d and unpaid ........................ . 5. Unappropriated profits ......................... . OTHER LIABILITIES. 6. Due for intercst ..................................... . 7. Due for salaries ...................................... . 8. Due for rent ........................................ . 9. Due for advertising agency and miscellaneous expenses .. 10. Money borroweci upon the credit of the company ........ . 11.

All other liabiliti('s ................................... . Total liabilities of the company ......... . LIABILITIES TO THE PUBLIC. 1. Money in trust for invcstment .......................... . 2. Trust funds for investment, guaranteed .................. . 3. Estates, trllsts and agcncies under administration by the company ......................................... . TOTAL ..................... . INVESTMENTS ON TRUST ACCOUNT. $ ........ . $ ........ . $ ........ . ...... ·.0. $ ........ . $ ........ . $ ........ . 1. First mortgages, upon improved freehold property in Alberta $ ........ . 2.

Government securities, direct or guaranteed, held as trustee- (

a) of Canada. . . . .. ..... .......................... . ........ . (

b) of t.he provinces of Canada. . . . . . . . . . . . . . . . . . . . . .. . ........ . (

c) of the United Kingdom. . . . . . . . . . . . . . . . . . . . . . . . . . . ........ . (

d) of the United States. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . ........ . 3. Government securitics, flS above, amount loaned against. . . . ........ . 4. Municipal bonds and debentures, held in trust. . . . . . . . . . . . . ........ . 5. Municipal bonds and debentures, amount loaned against... . ........ . 6. School district bonds and debentures. . . . . . . . . . . . . . . . . . .. . ........ . 7. School district bonds and debentures, amount loaned against ., ....... . 8. Drainage district debentures. . . . . . . . . . . . . . . . . . . . . . . . . .. . ........ . 9.

Drainage district debentures, amount loaned against. . . . . . . ........ . 10. Rural telephone debentures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........ . 11. Rural telephone debentures, amount loaned against. . . . . . . . ........ . 12. Other securities authorized by terms of trust. . . . . . . . . . . .. . ........ . (Classification of such securitics in separate schedule.) 13. Investments other than foregoing. . . . . . . . . . . . . . . . . . . . . . . . ........ . (Classification of such investments in separate schedule.)

4 HOLDINGS AS TRUSTEE UNINVESTED. 14. Cash in hand ........................................ . 15. Cash in banks, including interest-bearing deposits ........ . (Specify banks with rjr>posit in each.) 16. Uninvested and unrealized trust or agency assets ......... . (At the like valuation as same items arc included in 3 of "Liabilities to the Public" foregoing.) TOTAL ..................•.. MISCELLANEOUS STATEMENT. $ ........ . 1. Real Estate acquired in protecting company's own, as dis- tinguished from trust, investments. . . . . . . . . . . . . . . . . . .. $ ........ . 2.

Earliest date at which allY por1.ion of same has been acquired ......... . 3. Amount of interest due company in its trustee capacity over- due more than six months. . . . . . . . . . . . . . . . . . . . . . . . . .. . ........ . 4. Average rate of interest earned- (

a) upon the company's own, as distinguished from trust, investments. . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . ........ . (

b) upon trustee investments- (

i) in mortgages. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . ........ . (ii) in governmr>nt securities. . . . . . . . . . . . . . . . .. . ........ . (iii) in municipal and school securities. . . . . . . . . . .. . ........ . (iv) in all other classes of investment. . . . . . . . . . . .. . ........ .

We declare that t.he foregoing statement and the separate schedules therein referred to and hereunto attached and signed by us are made up from the books of the company and that to t.he best of our knowledge and belief they arc correct and show truly and clearly the financial position of the company and the condition of the company's affairs. (Place) . ............... this .............. day of. ................ 19 ... . A.B., President (or Vice-President, as the case may be) C.D., Manager (or Secretary, as the case may be.)

No. 34 FIRST SESSION FOURTH LEGISLATURE 8 GEORGE V 1918 BILL

An Act to amend The Trust Com panies Ordinance. Received and read the First time ...... . Second time. . . . . . . .. . ..... Third time ................ . HON. MR. SMITH. EDMONTON: J. W. JIlJTIDRY. K,NO'S PRINTIIlR A.D. 1918 Title: 1918 (4th, 1st) Bill 34,

An Act to amend The Trust Companies Ordinance

Document details

Collection	Alberta — Bills
Citation	L4 S1 9723
Type	bill
Volume / chapter	L4 S1 9723
Language	en
Format	json
Source	PROVINCIAL
Identifier	0dc80b3a7cae88c10cf2f8a4542dc7aee1e3b7de

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