Bill 20 (Legislature 11, Session 4)

L11 S4 6931

Alberta — Bills

Bill No. 20 of 1951. A BILL TO AMEND THE CO-OPE,RATIVE ABSOCIATIONS AOT, 1946. NOTE. This Bill amends The Co-operative Associations Act, 1946, being

chapter of the Statutes of Alberta,

Section 12, clause (

q) is amended to make it clear that a co-operative association in selling or disposing of its under taking or any part thereof may accept as part of the con sideration shares, debentures or securities in any associa tion having objects similar to those of the co-operative making the sale or disposition. This amendment is retro active to the 1st day of October, 1950.

Section is amended by the addition of a new subsection (Ia) immediately after subsection (1).

Section deals with the power of a liquidator in the winding-up of any co operative association. The new subsection requires the liquidator to pay, in priority to all other debts, the wages or salary of any person employed by the association during the three months immediately preceding the appointment of the liquidator to an amount not exceeding two hundred and fifty dollars. This is similar to a provision in The Companies Act applicable to the winding-up of a company. This Bill comes into force on the 1st day of July, 1951, except for the amendment to

section 12. KENNETH A. McKENZIE, Legislative Counsel. (This note does not form any part of the Bill but is offered in explanation of its p'f'ovi.~lons.) BILL No. 20 of 1951.

An Act to amend The Co-operative Associations Act, 1946. (Assented to , 19.'51.) HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. The Co-operative Associations Act, 1946, being

chapter of the Statutes of Alberta, 1946, is hereby amended.

Section 12, clause (

q) is anlended by adding immedi-

Section U ately at the end the words "and in particular f'Or shares, amended debentures, securities or some other interest in any asso- ciation having objects altogether or in part similar to those of the association". 3.

Section iR amended by .adding immediately after

Section subsection (1) the following new subsection: amended "(1a) The liquidator shall pay, in priority to all other Priority of debts, the wages or salary of any person employed by the :.t~:; 0'1' association in respect of services rendered during the three months immediately preceding the appointment of the liquidator to an amount not exceeding two hundred and fifty dollars.". 4. This Act shall conle into force on the first day of July, s:~mi~lg 1951, excep.t for

section which shaH be deemed to have m 0' orce been in force at all times on and after the first day of October, 1950. J.:"IO. :.:::u. FOURTH SESSION ELEVENTH LEGISLATURE GEORGE VI BILL An A~t to amend The Co-operative Ass9ciations Act, 1946. Received and read the First time ......................................... . Second time .: ................................... . Third time ........................ . HON. DR. ROBINSON. Title: 1951 (11th, 4th) Bill 20,

An Act to amend The Co-operative Associations Act, 1946

Document details

Collection	Alberta — Bills
Citation	L11 S4 6931
Type	bill
Volume / chapter	L11 S4 6931
Language	en
Format	json
Source	PROVINCIAL
Identifier	2edd0530635a3c54d13e5a85e70e0a1a4c422e83

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