Bill 24 (Legislature 14, Session 4)

L14 S4 1856

Alberta — Bills

No. 24 4th Session, 14th Legislature, Alberta 10 Elizabeth II BILL 24 A Bill to amend The Alberta Gas Trunk Line Company Act HON. MR. MANNING Prlnwd by L. S. WALL, PrInter to the Queen's Most Excellent Majeaty, Ednlonton, Alberta, 1962

Explanatory Note

Section 2, clauses (

e) and (

f) presently read: "(e) "gas processor" means a company, firm, association, group or individual owning and operating a gas processing plant within the Province; "(f) "gas producer" means a company, firm, association, group or individual having a property interest in a properly completed well capable of producing gas or ot! within the Province and having the right to dispose of the production of the weH;". Under The

Interpretation Act, 1958, the word "person" includes corporations and can also mean more than one person.

Section 8 presently reads: "s. Subject to

section 9, the Class "B" common shares of the com pany are non-transferable except where otherwise provided by a by-law of the company made pursuant to subsection (2) of

section 27.".

Section 9, subsection (2), clause (

a) reads: "

(2) Except where otherwise provided by a by-law of the company made pursuant to subsection (2) of

section 27, when the right to vote a Class "B" common share is lost (

a) the ownership of the share and run rights thereunder shall revert to the company, and". s.

Section 10 presently reads: "10. Nothing in tbis Act shall be construed so as to permit any company, firm, association, group or individual to hold or control Class "B" common shares of more than one Group.".

Section 11, subsections (3) and (4) presently read: "

(3) In determining the number of Class "B" common shares of Groups I, II or III which may be allotted to an applicant, the Board shave have regard, inter alia, to the fallowing considerations (

a) if the applicant is a utility company the Board shall have regard to (1) the amount of capital vested in the utility company, (il) the extent of the gas pipe Une sYStem operated by the utility company in the Province, (iii) the size and number of the communlUes tn the Province served with gas by the utility company, a.nd

BILL No. 24 of 1962

An Act to amend The Alberta Gas Trunk Line Company Act (Assented to , 1962) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta., enacts as follows: 1. The Alberta Gas Trunk Line Company Act, being

chapter 37 of the Statutes of Alberta, 1954, is hereby amended.

Section 2 is amended (

a) as to clause (

e) by striking out the words "com pany, firm, association, group or individual" and by substituting the word "person", (

b) as to clause (

f) by striking out the words "com pany, firm, association, group or individual" and by substiuting the word "person".

Section 8 is amended by striking out the words "a by-law of the company ma.de" and by substituting the words "the Board".

Section 9, subsection (2) is amended by striking out the words "a by-law of the company made" and by sub stituting the words "the Board".

Section 10 is struck out and the following

section is substituted: 10. No person may hold or control and nothing in this Act shall be construed so as to permit any person to hold or control Class liB" common shares of more than one Group.

Section 11 is amended (

a) by striking out subsection (3) and by substituting the following:

(3) In determining the number of Class liB" common shares of Groups I, II or III which may be allotted to an applicant, the Board shall have regard, inter alia, to the following considerations:

2 (iv) the quantity of gas annually sold in the Province by the utility company, (

v) the use to be made of the company's facilities by the utLlity company, (

b) if the applicant is a gas export company, the Board shal[ have regard to (

i) the amount of capital invested in the gas export company, (ii) the extent of the gas pipe line system operated by the gas export company, (iii) the quantity of gas to be taken from the Province by the gas export company, and (iv) the use to be made of the company's facilities by the gas export company, and (

c) if the applicant is a gas producer or a gas processor, the Board shall have regard to (

i) the amount of capital invested in the business of producing or processing gas within the Province by the gas ~oducer or processor, (ii) the quantity of Alberta gas that the producer or processor is capable of producing or processing annually, (iii) the gas reserves of a producer within the Province, (iv) the total acreage within the Province held by the producer in known gas fields, and (

v) the amount of development work done or undertaken by the producer within the Province.

(4) As a condition of allotment of Class "B" common shares, the Board may require that the applicant purchase (

a) such number of Glass "A" common shares of the company, and (

b) at suc!]. price, not being more than the market value at the time of the subscription or less than the par value, as the Board by by-law may determine ....

Section 12b reads in part: "12b. The Board by by-law may authorize the payment of a com- mission to any person in consideration of his ........ .

Section 24, subsection (3) presently reads: "

(3) The Board may elect one or more vice-presidents from the members of the Board ....

Section 25, subsection (2) presently reads: "

(2) Special elections shall be held in such manner and at such time and place as may be provided by a by-law o,f toe company ....

2 (

a) if the applicant is a utility company the Board shall have regard to (

i) the amount of capital invested in the utility company, (ii) the extent of the gas pipe line system operated by the utility company in the Province, (iii) the size and number of the communities in the Province served with gas by the utility company, (iv) the quantity of gas annually sold in the Province by the utility company, and (

v) the extent of the use of the company's facilities then being made or contracted for by the utility company, (

b) if the applicant is a gas export company, the Board shall have regard to (

i) the quantity of gas then authorized to be taken from the Province by the gas export company, and (ii) the extent of the use of the company's facilities then being made or contracted for by the gas export company, and (

c) if the applicant is a gas producer or a gas pro cessor, the Board shall have regard to (

i) the amount of capital invested in the busi ness of producing or processing gas within the Province by the gas producer or pro cessor, (ii) the quantity of Alberta gas that the pro ducer or processor is capable of producing or processing annually, (iii) the gas reserves of a producer within the Province, and (iv) the total acreage within the Province held by the producer in known gas fields. (

b) as to subsection (4) by striking out the words "by by-law".

Section 12b is amended by striking out the words "by by-law".

Section 24, subsection (3) is amended by striking out the words "from the" and by substituting the words "who need not be".

Section 25, subsection (2) is amended by striking out the words "a by-law of the company" and by SUbstituting the words "the Board".

Section 27, subsection (1), clauses (

h) and (

i) read: "ZT.

(1) The Board may make by-laws relating to such matters or things as are requisite or proper or as appear to the Board to be requisite or proper for the conduct or regulation of any of the business or affairs of the company and, without limiting the generality of the foregoing may make by-laws relating to (

h) the investments of the company, and (

i) the remuneration to be paid the directors and provisional directors of tbe company.". II. Minutes of proceedings to be kept. 12. Commencement of Act.

Section 27 is amended (

a) as to subsection (1) (

i) by striking out all the words preceding clause (

a) and by substituting the following: 27.

(1) The Board may do all things re quisite or proper or that appear to the Board to be requisite or proper for the conduct or regulation of the business or affairs of the company, and without limiting the generality of the foregoing, the Board may provide for (ii) by striking out the word "and" at the end of clause (

h) and by adding immediately after clause (

i) the following new clauses: (

j) the circumstances or conditions under which the office of a director, other than a director appointed by the Lieutenant Governor in Council, shall be vacated, and (

k) general by-laws for the conduct of the affairs of the company. (

b) as to subsection (2) by striking out the words "by by-law". 11. The following new

section is added immediately after

section 31 : 31a.

(1) The company shall cause minutes of all pro ceedings of general meetings and directors' meetings to be entered in books kept for that purpose.

(2) Any such minutes, if purporting to be signed by the chairman of the meeting at which the proceedings were had, or by the chairman of a subsequent meeting which approved such minutes, are admissible in evidence as proof of the proceedings.

(3) Until the contrary is proved, every general meeting of the company or meeting of directors in respect of the proceedings of which Ininutes have been so nlade, shall be deemed to have been duly held and convened, and all pro ceedings had thereat to have been duly had, and all appoint ments of directors or officers made thereat shall be deemed to be valid. 12. This Act comes into force on the da.y upon which it is assented to.

No. 24 FOURTH SESSION FOURTEENTH LEGISLATURE 10 ELIZABETH II 1962 BILL

An Act to amend The Alberta Gas Trunk Line Company Act Received and read the First time Second time Third time HON. MR. MANNING Title: 1962 (14th, 4th) Bill 24,

An Act to amend The Alberta Gas Trunk Line Company Act

Document details

Collection	Alberta — Bills
Citation	L14 S4 1856
Type	bill
Volume / chapter	L14 S4 1856
Language	en
Format	json
Source	PROVINCIAL
Identifier	3f7377c556684b43056a943edfcf1c17fc12969c

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