Bill 72 (Legislature 14, Session 1)

L14 S1 5962

Alberta — Bills

No. 72 1st Session, 14th Legislature, Alberta 8 Elizabeth II BILL 72 A Bill to amend The Farm Purchase Credit Act HON. MR. HALMRAST Printed by L. S. WALL, Printer to the Queen's Most Excellent Majesty, Edmonton, Alberta, 1960

Explanatory Note

Section 4, subsection (3) presently reads: "

(3) The amount of advances to the Fund and outstanding at any one time shall not exceed three million dollars.". 3.

Section 211(1) presently reads: "21.

(1) The board shall enter into an agreement for sale with the purchaser, which shall provide that the purchase price under the agreement shaH be paid in equal annual instalments of principal and interest sufficient to pay the purchase price at the end of such period as may be agreed upon, but no period sha,ll be in excess of the period prescribed under

section 19.".

BILL No. 72 of 1960

An Act to amend The Farm Purchase Credit Act (Assented to , 1960) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. The Farm Purchase Credit Act, being

chapter 23 of the Statutes of Alberta, 1957, is hereby amended.

Section 4, subsection (3) is amended by striking out the word "three" and by substituting the word "five".

Section 21 is ,amended by adding immediately after subsection (3) the following new subsection:

(4) An agreement for sale may provide that the first instalment shan be due less than one year from the date of execution of the agr,eement, in which case the agree ment may, notwithstanding subsection (1), provide that the first instalment is to be of a specified lesser amount than the remainder of the instalments payable under the agreement. 4. This Act comes into force on the day upon which it is assented to.

No. 72 FmST SESSION FOURTEENTH LEGISLA lURE 8 ELIZABETH II 1960 BILL

An Act to amend The Farm Purchase Credit Act Received and read the First time ......................................... . Second time. Third time .... HON. MR. HALMRAST Title: 1960 (14th, 1st) Bill 72,

An Act to amend The Farm Purchase Credit Act

Document details

Collection	Alberta — Bills
Citation	L14 S1 5962
Type	bill
Volume / chapter	L14 S1 5962
Language	en
Format	json
Source	PROVINCIAL
Identifier	29fded6422ba351d6000f5895c428044ebadc43b

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