Bill 35 (Legislature 12, Session 3)

L12 S3 6480

Alberta — Bills

Bill No. 35 of A BILL TO AMEND THE PUBLIC TRUSTEE ACT NOTE This Bill amends The Public Trustee Act, being

chapter of the Statutes of Alberta, 1949. A new

section 32a is added. The purpose of this

section is to permit an earlier winding up of the estates where beneficiaries thereunder are residing in countries under communistic governments. In such cases long delays ensue in corresponding with the local authorities and the where abouts of beneficiaries cannot always be ascertained. The provision enables an estate to be wound up by transferring the assets of such beneficiaries to the Public Trustee who can then continue the search for such beneficiaries while beneficiaries elsewhere are not deprived of a final account ing and distribution of the estate. This Bill comes into force upon assent. J. W.

RYAN, Acting Legislative Counsel. (This note does not form any part of the Bill but is offered in explanation of its provisions.) BILL No. 35 of

An Act to amend The Public Trustee Act ( Assented to ,1955) HER MAJEST.Y, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. The PUPlic Trustee Act, being

chapter of the Statutes of Alberta, 1949, is hereby amended. 2. The following new

section is added immediately after New

section 32:

section 32a "32a.

(1) Any property to which a person who is Estates in ·d t· t d . t· t . communist resl en In a coun ry un er communIS, IC governmen IS en- countries titled under an intestacy or a will, may be transferred by the administrator or executor to the Public Trustee, who in such case shall act as trustee of the property for such person. "

(2) The receipt in writing of the Public Trustee for the property acts as a sufficient discharge to the adminis trator or executor, who is thereby exonerated from seeing to the application thereof. "

(3) The Public Trustee may "(

a) payout of the capital or income of the property such moneys as are required to ensure its effectual transfer and proper maintenance and administra tion, U (

b) on the order of a judge of the Supreme Court, mortgage, lease, sell or otherwise dispose of the property.". 3. This Act comes into force on the day upon which Coming into it is assented to. force THIRD SESSION TWEL~ LEGISLA lVRE ELIZABETH II BILL

An Act to amend The Public Trustee Act Received and read the- First time ............. ~ ... , .... , ................... . Second time .................................. ~ ... " Third time ............ . HON. MR. MAYNARD Title: 1955 (12th, 3rd) Bill 35,

An Act to amend The Public Trustee Act

Document details

Collection	Alberta — Bills
Citation	L12 S3 6480
Type	bill
Volume / chapter	L12 S3 6480
Language	en
Format	json
Source	PROVINCIAL
Identifier	3026a76634693f06f1eadd3ca65cc6b9c679a624

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