Bill 5 (Legislature 14, Session 4)

L14 S4 1837

Alberta — Bills

No.5 10 Elizabeth II 4th Session, 14th Legislature, Alberta BILL 5 A Bill respecting The Canada Permallent Trust Compan) and The TorontO' General Trusts Corporation MR. GERHART PrInted by L. S. "".\LL, Printer to the Queen's ~ost Excellent Majesty, Edmonton, Alberta, 1962

BILL No.5 of 1962

An Act respecting The Canada Permanent Trust Company and The Toronto General Trusts Corporation (Assented to , 1962)

WHEREAS The Canada Permanent Trust Company and

Preamble The Toronto General Trusts Corporation, under an Agreement dated the 1st day of August, 1961, have merged and amalgamated and are continuing as one corporate entity under the name "Canada Permanent Toronto General Trust Company", and in French, "Compagnie de Fiducie Canada Permanent Toronto General"; AND

WHEREAS Canada Permanent Toronto General Trust Company has by its petition prayed for special legis lation in respect of the matters hereinafter set forth and it is expedient to grant the prayer of the petition: THEREFORE, Her Majesty, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1.

(1) Canada Permanent Toronto General Trust Com- ~!~~~ent pany is substituted as executor, administrator, trustee, Toronto committee, assignee, liquidator, receiver, registrar, transfer ~~~:[al agent, guardian or curator, or as the case may be in the co~r~nred pla.ce and stead of The Canada Permanent Trust Company ~~ ~r~~ee or The Toronto General Trusts Corporation, in or in respect of every trust, trust deed, deed, mortgage, inden- ture, conveyance, will, codicil, probate, letters of adminis- tration, judgment, order, appointment or other document whatsoever, or trust howsoever created wherein or whereby or of which The Canada Permanent Trust Company or The Toronto General Trusts Corporation is, or was named as, or became, trustee or \yas appointed to any office or trust.

(2) All trusts and trust estates and properties of every Vesting kind and description, including incomplete or inchoate of trusts trusts, granted to or held by The Canada Permanent Trust Company or The Toronto General Trusts Corporation, or in respect of which either of them might become entitled to act, and all powers, rights, immunities and privileges conferred upon or enjoyed by either of them under any trust, trust deed, deed, mortgage, indenture, conveyance, will, codicil, probate, letters of administration, judgment. order, appointment, or other document whatsoever, or in

2 respect or by virtue of any trust howsoever created, are hereby declared to be vested in Canada Permanent Toronto General Trust Company upon the same trusts, and with the same powers, and subject to the same obligations and duties, as are therein, thereby or in respect thereof respec tively provided or imposed. Idem

(3) All trusts, trust deeds, deeds, mortgages, indentures, conveyances, wills, codicils, probates, letters of adminis tration, judgments, orders, appointments or other docu ments whatsoever, heretofore or hereafter made, naming or appointing The Canada Permanent Trust Company or The Toronto General Trusts Corporation to the office of executor, administrator, trustee, conlmittee, assignee, liqui dator, receiver, registrar, transfer agent, guardian or curator, or to any other office or position whatsoever, or wherein any estate, money or other property or any interest, possibility or right is intended to be heretofore or here~ after vested in, or administered or managed by, or put in charge of, The Canada Permanent Trust Company or The Toronto General Trusts Corporation shall be read, con strued, and given effect to as if Canada Permanent Toronto General Trust Company were and had been named therein in the place and stead of The Canada Permanent Trust Company or The Toronto General Trusts Corporation.

Properties of 2.

(1) All the lands, estates, leases, charges, mortgages, ~~;m;~~~da encumbrances, securities, assets, properties, real, personal {;rust or mixed, effects, rights, credits, choses-in-action and, a~dP';::: causes of action of every description belonging to, or a~~~~~l standing in the name of, or existing in, The Canada Perm- Trusts. anent Trust Company or The Toronto General Trusts Cor- ;~:fe~t~lOn poration are hereby transferred to and vested in Canada Pcanada t Permanent Toronto General Trust Company without further ermanen • Toronto act, conveyance, or other deed, to and for the use and benefIt ~:~:[al absolutely of Canada Permanent Toronto General Trust Company Company, its successors and assigns, for all the estate, right, title, interest, clainl and denland which The Canada Permanent Trust Company or The Toronto General Trusts Corporation has, or becomes, or may become entitled to.

Exercise of powers

(2) Canada Permanent Toronto General Trust Company may exercise all the powers, rights and privileges over or in respect of the things and matters to which reference is made in subsection (1) or any of them, that The Canada Permanent Trust Company or The Toronto General Trusts Corporation has, or had, or could or might have exercised, and may sell, release, discharge, assign, tranfer, convey, dispose of or otherwise deal with all or any of the said lands, estates, leases, charges, mortgages, encumbrances, securities, assets, properties, real, personal or mixed, effects, rights, credits, choses-in-action and causes of action afore said and execute all requisite or proper assignments, trans fers, discharges, releases, deeds, grants or other convey ances or other documents whatsoever, as occasion therefor shall arise, and exercise all powers in connection therewith

3 or with respect thereto in the name of Canada Permanent Toronto General Trust Company in the same manner as if they stood in the name of, or had been made to or in favour of Canada Permanent Toronto General Trust Com pany.

(3) No suit, action, appeal, application or other pro- Actions by d· b· . d db· The Canada cee lng elng carne on, or power or reme y elng exer- Permanent cised, shall be discontinue~ or abated on account of this ~~~~any Act or of the amalgamatIOn of The Canada Permanent and The Trust Company and The Toronto General Trusts Corpor- &~~~~~ ation, but it may be continued in the name of Canada Perm- ~rusts t" anent Toronto General Trust Company; and Canada Perma- c~~~~~on Toronto General Trust Company has the same rights, and ~er~::n~ is subject to the same liabilities, and shall payor receive Toronto the like costs, as if the suit, action, appeal, application or ~;~:[al other proceeding had been commenced or defended in the Company name of Canada Permanent Toronto General Trust Com- pany.

(4) Canada Permanent Toronto General Trust Company Right to" b . . t . d ... t bring actIOn, may rIng, main aln, an exercIse In I s own name any etc. suit, action, appeal, application or other proceeding or exercise any power, right or remedy or right of distress that The Canada Permanent Trust Company or The Toronto General Trusts Corporation could have been or become entitled to bring, maintain or exercise. 3.

(1) This Act shall be, and shall in all respects be Act f valid treated, for the purposes of every land titles office, registry ;:;~~out office and other public office whatsoever in the Province, registration and of any and all transactions therein and of the officers administering them, as a legal and valid grant, conveyance, transfer and assignment, to Canada Permanent Toronto General Trust Company of any and all lands or interests in lands and of any and all mortgages, charges, encum- brances, or other documents whatsoever, and of any and all other property of every description real, personal, or mixed, and whether under The Land Titles Act or any other Act, or under any other system or form of registration, standing in the name of, or vested in, The Canada Perma- nent Trust Company or The Toronto General Trusts Cor- poration, whether as owner, trustee, liquidator or other- wise.

(2) Notwithstanding The Bills of Sale Act or The As- Registrations signments of Book Debts Act, 1958, or The Companies Act ~~~Si~:SnS~ot or The La.nd Titles Act or any other Act of the Legislature required it is not necessary to register or file this Act or register or file or issue any further or other instrument, document, or certificate, or to make any entry showing the trans- mission or assignments of title from The Canada Perma- nent Trust Company or The Toronto General Trusts Cor- poration to Canada Permanent Toronto General Trust Company of any such property, or in the case of lands under The Land Titles Act, to ha\"e certificates of title issued in,

RIghts o'f creditors preserved

Short title Commence ment of Act 4 or to have any mortgage, charge, encumbrance or other document whatsoever transmitted to the name of Canada Permanent Toronto General Trust Company; nor is it necessary in any instrument or document whereby Canada Permanent Toronto General Trust Company deals with any of the said property, to recite or set out any such trans mission or assignment of title or to pay any fees in con nection with the grant or assignment hereby made of any such property. 4.

Nothing in this Act affects the rights of any creditor of, or of any person having a claim against, either The Canada Permanent Trust Company or The Toronto General Trusts Corporation, or impairs, modifies or affects the liability of The Canada Permanent Trust Company or of The Toronto General Trusts Corporation in respect of any trust or trust estate tha.t by or under this Act, becomes vested in Canada Permanent Toronto General Trust Com pany; but all such rights may be asserted against Canada Permanent Toronto General Trust Company, which shall be responsible for all debts, liabilities and obligations of The Canada Permanent Tl'ust Company and of The Toronto General Trusts Corporation. 5.

This Act may be cited as The Canada Permanent Toronto General Trust C01npany Act, 1962. 6. This Act comes into force on the day upon which it is assented to and upon so coming into force shall be deemed to have been in force at all times on and after the first day of December, 1961.

No.5 FOURTH SESSION FOURTEENTH LEGISlATURE 10 ELIZABETH II 1962 BILL

An Act respecting The Canada Perm anent Trust Company and The Toronto General Trusts Corpora tion Received and read the First time Second time ..................................... . Third time ....................................... . MR. GERHART Title: 1962 (14th, 4th) Bill 5,

An Act respecting The Canada Permanent Trust Company and The Toronto General Trusts Corporation

Document details

Collection	Alberta — Bills
Citation	L14 S4 1837
Type	bill
Volume / chapter	L14 S4 1837
Language	en
Format	json
Source	PROVINCIAL
Identifier	12e1fbcb5e68f5f918fa9f20075114d3b59b2f87

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