BILL No. 21 of 1930.

An Act to amend The Trustee Act. (Assented to , 1930.) HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: ~. This Act may be cit.ed as "The Trustee Act Amend­ ment Act, 1930." 2. The Trustee Act, being

chapter of the Revised Statutes of Alberta, 1922, is amended by adding as

section 7a, immediately after

section thereof, the following: "7 a.-

(1) If any conditional or preferential right to subscribe for any securities in any company is offered to trustees in respect of any holding in such company, they may as to all or any of such securities, either exercise such right and apply capital money subject to the trust in payment of the consideration, or renounce such right, or assign for the best consideration that can be reasonably obtained the benefit of such right, or the title thereto, to any person, including any beneficiary under the trust, without being re­ sponsible for any loss occasioned by any act or thing so done by them in good faith: "Provided that the consideration for any such assignment shall be held as capital money of the trust.

"

(2) The powers' conferred by this

section shall be ex­ ercisable subject to the consent of any person whose consent to a change of investment is required by law, or by the in­ strument, if any, creating the trust." 3.

Section of the said Act is amended as to subsection (1) thereof, by striking out the words "having regard to the value of the property in question." Xo.21. FOURTH SESSION SIXTH LEGISLATURE GEORGE V BILL

An Act to amend The Tiust.ees Act. Received and read the First time .................. . Second tini.e .................. . Third time ................... . HON. MR. LYMBURN EDMO~TON: W. D. McLEAX. KING'S PHlNTEI< A.D.IBSO Title: 1930 (6th, 4th) Bill 21,

An Act to amend The Trustee Act