Bill 85 (Legislature 14, Session 4)

L14 S4 1917

Alberta — Bills

No. 85 4th Session, 14th Legislature, Alberta 10 Elizabeth II BILL 85 A Bill to amend The Companies Act HON. MR. PATRICK Prlnte4 by L. S. WALL, Printer to the Queen's Moat Excellent !l&jfl8'ty. JIlclmonton, Alberta. 1961

Explanatory Note

Section 19, subsection (1), clause (

k) presently reads: "19.

(1) For the purpose of carrying out its objects, a company other than a specially Umited company has the foBowing powers, except such of them as may be expressly excluded by the memorandum, (

k) the power to raise and assist in raising money for, and to aid by way of bonus, loan, proonJise, endorsement, guarantee of debentures or other securities, or otherwise, any company, wheresoever incorporated, with which the company may have business relations, and the power to guarantee the contracts of any such company,", 3. When sections 16, 17 and 18 were amended in 1959 to provide that the memorandum shall state "the place within the Province at which the registered office is to be situated" a difficulty was created with respect to changing the location of the registered office. This amendment will cure that difficulty.

Section 77, subsections (1) and (2) read: "77.

(1) Tl}e memorandum of any company, limited by shares, or limited by guarantee and baving a share capital, may provide for the creation of the shares in the capita'} of such company without nominal or par value, and where it provides for preferred shares having a prefHence as to principal in addition to shares without nominal or ~r ,'alue, it shall state the amount of the preferred shares, the particula,r character of the preference, and the amount of each I)re ferred share, which shall be five dollars or some multiple of five dollars, but not more than one hundred dollars.

(2) Each share of the capital wit1)out nominal or par value shaU be equal to every other such share, but subject to the preferences, re strictions or other conditions atta>ched to the preferred shares, if any, authorized to be issued.".

Section 81, subsections (1) and (2) presently read: "81.

(1) Every company shall ha.ve in the Province a registered office, to whic!} &11 communications and notices can be addreSfled.

(2) Notice of the location of the registered office, and of any change therein, shall be given to the Registrar, who shall record it.".

BILL No. 85 of 1962

An Act to amend The Companies Act (Assented to , 1962) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta., enacts as follows: 1. The Companies Act, being

chapter 53 of the Revised Statutes, is hereby amended.

Section 19, subsection (1) is amended by striking out clause (

k) and by substituting the following: (

k) the power to raise and assist in raising money for, and to aid by way of bonus, loan, promise, endorse· ment, guarantee or otherwise, any person or com pany with whom or which the company may have business relations or any of whose shares, secur ities or other obligations are held by the company and to guarantee the performance or fulfilment of any contracts or obligations of any such person or company, and in particular to guarantee the pay ment of the principal of and interest on securities, mortgages and liabilities of any such person or company, 3. The following new

section is added immediately after

section 43: 43a.

(1) A comapny may by special resolution change the place within the Province at which the registered office is to be situated.

(2) The powers conferred by this

section may if the articles so provide be exercised by ordinary resolution of the company or by resolution of the directors.

(3) A resolution under this

section does not take effect until a copy has been filed with the Registrar and when the resolution has been so filed the Registrar shall issue under his seal of office a certificate ~howing the alteration effected by the resolution.

Section 77 is amended by striking out subsection (2).

Section 81 is amended by striking out subsection (2) and by substituting the following:

Section 159, subsection (1), clause (

b) presently reads: "159.

(1) A company required to be registered under this Part shall on or before the first day of March in each year during the con tinuance of its registration make a statement to the Registrar, verified by affidavit, containing, as at toe preceding thirty-first day of December, a

summary of the following particula·rs, that is to say: (

b) the place where the head office of the company is situated;". 7. An information in respect of a

summary conviction offence must ordinarily be laid within six months of the commission of the offence. 8. Commencement of Act.

(2) Notice of the location of the registered office of a company, giving the postal address, and any change therein, shall be filed with the Registrar within fifteen days of establishing the location.

Section 159, subsection (1) is amended by striking out clause (

b) and by SUbstituting the following: (

b) the place where the head office of the company outside the Province is situated; (bl) the place where the head office of the company within the Province is situated; 7. The following new

section is added immediately after

section 277: 277 a. An information in respect of an offence against this Act may be laid within two years from the time when the matter of the information arose but not thereafter. 8. This Act comes into force on the day upon which it is assented to.

No. 85 FOURTH SESSION FOURTEENTH LEGISlA JURE 10 ELIZABETH II 1962 BILL A.n Act to amend The Com'panies Act Received and read the First time Second time .............. . Third time HON. MR. PATRICK Title: 1962 (14th, 4th) Bill 85,

An Act to amend The Companies Act

Document details

Collection	Alberta — Bills
Citation	L14 S4 1917
Type	bill
Volume / chapter	L14 S4 1917
Language	en
Format	json
Source	PROVINCIAL
Identifier	180ab0f91078fc7f5e38eaaca98e329c86bfb56e

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