1981 BILL 206 Third Session, 19th Legislature, 30 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL 206

AN ACT TO AMEND THE ALBERTA ENERGY COMPANY ACT MR. R. CLARK First Reading Second Reading Committee of the Whole Third Reading Royal Assent Title: 1981 (19th, 3rd) Bill 206,

An Act to Amend the Alberta Energy Company Act

Bill 206 Mr. R. Clark BILL 206 1981

AN ACT TO AMEND THE ALBERTA ENERGY COMPANY ACT (Assented to , 1981) HER MAJESTY, by and with the advice and consent of the Leg­ islative Assembly of Alberta, enacts as follows: 1 The Alberta Energy Company Act is amended by this Act. 2

Section 35(

b) is repealed. 3 The following

section is added after

section 35: 35.1(1) In every year that the first session of the Legislature commences prior to the first day of April, the Minister shall, within 15 days of the commencement of the first session of the Legislature, move a resolution in the Legislative Assembly which shall (

a) propose a person or persons to be nominated to hold the proxies of the voting rights on all voting shares in the Com­ pany held by the Government, at the annual meeting of the Company, and (

b) propose directions to be given to the person or persons nominated as to the manner in which the voting rights shall be exercised (

i) on every matter as to which the Government has re­ ceived notice as a shareholder as a matter proposed to be voted on at the annual meeting, and (ii) as to any shareholder’s resolution which the Gov­ ernment intends to propose at the annual meeting.

(2) The Company shall not hold its annual meeting until 1

Explanatory Notes 1 This Bill will amend

chapter 6 of the Statutes of Alberta, 1974. 2 Amends

section 35; removes power to make regulations as to exercise of voting rights. 3 Adds

section 35.1; provides for a resolution of the Legislative Assembly on exercise of voting rights. 1

(

a) such time as the Legislative Assembly has dealt with any resolution moved pursuant to subsection (1), or (

b) the first day of May, whichever shall first occur.

(3) In any year that the first session of the Legislature com­ mences on or after the first day of April or a resolution moved pursuant to subsection (1) is not dealt with prior to the annual meeting, the proxies shall be exercised by the Minister in person. 4 This Act comes into force on the day upon which it is assented to. 2

4 Coming into force. 2 Title: 1981 (19th, 3rd) Bill 206,

An Act to Amend the Alberta Energy Company Act