Bill 114 — A Bill To Amend the Farm Purchase Credit Act, 1968 (Legislature 15, Session 1)

L15 S1 1693

Alberta — Bills

No. 114 1st Session, 15th Legislature, Alberta 12 Elizabeth II BILL 114 A Bill to amend The Farm Purchase Credit Act, 1968 HON. MR. STROM Printed bY' L. S. WALL, Printer to the Queen's Most Excement Maje8tY, Edmonton, Alberta, 1964

Explanatory Note 1. This Bill amends The Farm Purchase Credit Act, 1963 (chap ter 17 of the Statutes of Alberta, 1963).

Section 6 is amended to increase the amount that may be advanced to the Farm Purchase Revolving Fund by the Provincial Treasurer from $12,000,000 to $14,000,000. 3. At present an advisory farm purchase committee consists of not less than 3 persons nor more than 5 persons, one nominated by the municipality, one nominated by the Minister of Agriculture and one nominated by the Provincial Treasurer. The amendments to

section 13 would allow the council of a county or municipal district, at its option, to act as the advisory committee instead of the persons so nominated.

Section 13, subsections (2) and (3) read: "

(2) The 'Order establishing a committee shall appoint theret'O the person nominated to represent the mun1clpallty in which the c'Om mittee is situate, a person nominated by the Minister of .A I?"riculture to represent him, a person nominated by the Provincial Treasurer to represent him and such other persons as the Min1ster deems advisable but a committee shall not be composed of more t1'!.an five members.

(3) A council by resolution or the Minister of Municipal Affairs in the case of an improvement district or specIal area, by notice, may request the Minister to appoint to the oommittee a named person in pI'ace of the member then representing the municipaJIity on the com mittee.and . the -Minister may ~n his discreUonaccede to the request ....

Section 18, subsection (2) presently reads: "

(2) The Boa:rd may not grant assistance where the value 'Of the land to be purchased together with the value of the land already owned by the a.pplicant is, in the opinion of the Board, in excess of thirty thl(}usand dollars."

BILL No. 114 of 1964

An Act to amend The Farm Purchase Credit Act, 1963 (ABsented to 1964) HER MAJESTY, by and with the advice and consent of the Legislative Assemibly of the Province of Alberta, enacts as follows: 1. The Farm Purchase Credit Act, 1969, is hereby amended.

Section 6, subsection (3) is amended by striking out the words "twelve million" and by substituting the words "fourteen million".

Section 13 is amended by adding the following sub sections:

(5) Notwithstanding subsection (2) or (3), the Minis ter, on the application of the council of a county or munici pal district, may appoint the council as a committee.

(6) An application referred to in sUbsection (5) shall be authorized by by-law and (

a) where the application is made in conjunction with the application for the estaJblishment of the com mittee, clause (

c) of subsection (2) of

section 11 does not apply, or (

b) where the application is made with respect to an existing committee, upon the appointment of the council all persons who were not members of the council cease to be members of the committee.

(7) Where a council has been appointed as a committee it may at any time on the authority of a by-law apply to the Minister to be replaced by a committee appointed in accordance with subsection (2) but until the Minister so appoints, subsections (2) and (3) do not apply to the com- mittee.

Section 18, subsection (2) is amended by striking out the word "thirty" and by substituting the word "forty".

2 s.

Section 20, subsections (3) and (4) read: "

(3) From every instalment of principal and Interest due to a vendor pursuant to clause (

c) of subsection (21), the Board shan deduct an amount equal to four per cent of tl}.e instalment which ehall be deposdted in the Fund.

(4) Wihen alII the moneys due to a vendor under an agreement baNe been paid, the Board shall pay to the vendor, without interest being cOmputed or paid thereon, the moneys deposited In the Fund under subsection (3) in respect of ,that agreement. ...

Section 28, clause (

a) reads: "28. It shall be a term of evMY agreement for sale of farm lanels between the Board and any purchaser under this Act (

a) that no assignment of .the agreement for sale may be made , except to a person who is approved as a purchaser by the Board and upon the assignment of the agreement to a person who Is not approved all instalments under the agreement become ?~~ . ~~ . ~~\&ble, 7. Commencement of Act.

Section 20 is amended by -striking out subsections (3) and (4), and all moneys retained in the Fund pursuant to those subsections shall be forthwith paid to the vendors entitled thereto, without interest.

Section 28 is amended by renumbering the

section as subsection (1) and by adding the following after the renum bered subsection (1):

(2) Notwithstanding clause (

a) of subsection (1), a pur chaser may assign an agreement for sale to a treasury branch or a chartered bank as security for a loan therefrom. 7. This Act comes into force on the day upon which it is assented to. 2

FIRST SESSION FlmENTH LEGISLATURE 12 ELIZABETH II 1964 BILL

An Act to amend The Farm Purchase Credit Act, 1963 Received and read the First time .................. . Second time .... 'l11ird time HON. MR. STROM Title: 1964 (15th, 1st) Bill 114,

An Act to amend The Farm Purchase Credit Act, 1963

Document details

Collection	Alberta — Bills
Citation	L15 S1 1693
Type	bill
Volume / chapter	L15 S1 1693
Language	en
Format	json
Source	PROVINCIAL
Identifier	14861195dbcda9aa4b58c38167eabd1f7630ccbf

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