Bill 49 (Legislature 4, Session 2)

L4 S2 10191

Alberta — Bills

BILL No. 49 of 1919.

An Act to amend The Bulk Sales Act. (Assented to ' 1919.) HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts a._<; follows: The Bulk Sales Act of Alberta, being

chapter of the Statutes of Alberta, 1913 (First Session), is amended as follows: 1. As to

section thereof, by adding thereto the following subsection: "

(2) If the actual cash consideration paid by the pur chaser at the date of any such sale or purchase, exclusive of all deferred payments, is less than the total indebtedness of the vendor shown by the said written statement the purchaser shall obtain the written consent to such sale or purchase of creditors representing at least sixty per cent. in number and amount of the claims appearing in the statement, and in default the sale shall be absolutely null nnd void as against any of such creditors." 2. As to

section thereof, by striking out all the words in the first paragraph thereof following the word "sale" in the thh~tcenth line, and substituting therefor the words "shall be absolutely null and void as against any creditor of the vendor whose name appears in the written statement abo~re referred to, unless nJl such creditors have been paid in fuH out of the proceeds of such sale."

(2) By striking out subsection thereof. :3. As to

section thereof, by inserting after the word "declaration" in the second line thereof the words "and written consent if required under this Act."

(2) By striking out the words ''three per cent. of the total proceeds of such sale which shall come to his hands'' in the seventeenth and eighteenth lines thereof and substi tuting therefor the words "three per rent. of the amount actu9,lly distributed by him among the creditors as herein provided''. 2 4:. As to

section thereof, by inserting therein after the word "such" in the fifth line thereof the words "sale shall be absolutely null and void as against any creditor of the vendor whose name appears in the written statement above niferred to, unless all ::mch creditors have been paid in full out of the proceeds of such sale, and such". 5. As to

section thereof, by striking out the word ''fifty" where the same occurs in the tenth line thereof and substituting therefor "at least sixty". No. 49. SECOND SESSION FOURTH LEGISLATURE GEORGE V BILL

An Act to amend The Bulk Sales Act Received and read the First time ................. . Second time ............... . Third time ................ . HoN. MR. BoYLE. EDMONTON: J. W. J:&JI"J'EBT, KINo's PRINTIUI A. D. 1919 Title: 1919 (4th, 2nd) Bill 49,

An Act to amend The Bulk Sales Act

Document details

Collection	Alberta — Bills
Citation	L4 S2 10191
Type	bill
Volume / chapter	L4 S2 10191
Language	en
Format	json
Source	PROVINCIAL
Identifier	3ced47fe17b9c13d53ac1455b4929adf3bba0d88

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