Bill 44 (Legislature 13, Session 2)

L13 S2 6403

Alberta — Bills

No. 44 2nd Session, 13th Legislature, Alberta 4 Elizabeth II, 1956 BILL 44 A Bill respecting the Burns Memorial Trust MR. DIXON (Private Bill) EDMONTON, ALBERTA Printed by A. SHNITKA, Printer to the Queen's Most Excellent Majesty 19&1

Prcnmble BILL No. 44 of 1956

An Act respecting the Burns Memorial Trust (Assented to ' 1956)

WHEREAS pursuant to the last Will of the late Honour- able Patrick Burns, who died in the City of Calgary in the Province of Alberta, on the 24th day of February' 1937, 60% of the annual income of the Estate of the late Hon: ourable Patrick Burns, after deducting therefrom certain an nuities, was directed to be paid to the nieces and nephews of the testator or their issue until the death of the last of the designated annuitants and the widow of the said testator's san, and the remaining 40% of the said income was directed to be invested and added to the capital of the said Estate during the said period, and upon the death of the last of the designated annuitants and the widow of the said testator's son, the cap_ital was directed to be distributed as to 67% among designated nieces and nephews of the said testator and as to 33% to the Royal Trust Company for the creation and establishment of a trust to be known as the Burns Memorial Trust; and

Whereas the net annual income of the Burns Memorial Trust commencing after the expiration of one year from the date of payment to the Royal Trust Company of the said 33% of the capital of the said Estate was directed to be distributed annually in equal shares among the five charit able organizations hereinafter set forth; and

Whereas pursuant to an Order of the Trial Division of the Supreme Court of Alberta, dated the 7th day of February, A.D. 1953, the Trustees of the Estate of the said late Honourable Patrick Burns were authorized and directed to enter into an Agreement whereby the said 40 o/o of the net annual income of the said Estate was to be dis tributed annually among the persons entitled to the capital of the said Estate; and

Whereas pursuant to the said Agreement, Royal Trust Company has been receiving 33% of the said 40 o/o of the said annual income and is accumulating the same in trust for the said charitable organizations as part of the capital of the said Burns Memorial Trust; and

Whereas it is expedient and in the best interests of the said five charitable organizations to authorize and direct the distribution among them annually of the annual income of the Burns Memorial Trust;

Now therefore Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows : 1. This Act may be cited as "The Bu1·ns Mem01·ial T1·ust

Short title Act". 2. Royal Trust Company is hereby authorized and Royal Trust directed to distribute annually any moneys received by it ~~~~~t!~d as Trustee of the Burns Memorial Trust from and after the to dtstrtbut•' • Income to 15th day of March, A.D. 1955, after deductmg therefrom namert its reasonable fees and expenses, equally among the follow- Cl)nrtttes ing charitable organizations: (

a) Les Soeurs de Charite de la Providence des Territoires du Nord Ouest; (

b) The Governing Council of the Salvation Army, Canada West; (

c) The Trustees for the Poor, Indigent and Neglected Children of the City of Calgary; (

d) The Trustees for the Widows and Orphans of Members of the Police Force of the City of Calgary; (

e) The Trustees for the Widows and Orphans of Members of the Fire Brigade of the City of Calgary. 3. The first distribution to be so made shall be made ntstrthutton within thirty days after this Act comes into force and sub- rlnte sequent distributions shall be made at the expiration of each three month period thereafter. 4. Reasonable administrative fees and expenses incurred Admtnt .. trn by Royal Trust Company may be charged against the ttvc ""!!tfl income of the Burns Memorial Trust and deducted from the amounts distributable under this Act. 5. This Act comes into force on the day upon which it Date or ' t d t coming IS assen e 0. Into force

No. 44 SECOND SESSION THIRTEENTH LEGISLA 11JRE 4 ELIZABETH II 1956 BILL

An Act respecting the Burns Memorial Trust Received and read the First time ................................... ..... . Second time ....................................... . Third time .......... . MR. DIXON Title: 1956 (13th, 2nd) Bill 44,

An Act respecting the Burns Memorial Trust

Document details

Collection	Alberta — Bills
Citation	L13 S2 6403
Type	bill
Volume / chapter	L13 S2 6403
Language	en
Format	json
Source	PROVINCIAL
Identifier	3cdd07d01574504053a13186e19369e5569b468b

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