Bill 31 (Legislature 13, Session 2)

L13 S2 6390

Alberta — Bills

No. 31 2nd Session, 13th Legislature, Alberta 4 Elizabeth II, 1956 BILL 31 A Bill to amend The Co-operative Marketing Associations Guarantee Act HON. MR. REIERSON EDMONTON, ALBERTA Printed by A... SHNI'l'KA, Printer to the Queen's Most Excellent ~Iajesty 1956

Explanatory Note 2. The new

section will enable the Supervisor of Co-operative Activities to intervene directly in the affairs of a co-operative association that has borrowed public funds or whose borrowing has been guaranteed under this Act by the Province. As a result the Supervisor will be able to facilitate the collection of the moneys owing at the source and expedite the repayment thereof. The

section will only operate in the case of co-operatives that fall behind on their repayments or are likely to do so.

BILL No. 31 of 1956

An Act to amend The Co-operative Marketing Associations Guarantee Act (Assented to , 1.956) HER MAJESTY, by and with the advice and consent of the L€gislative Assembly of the Province of Alberta, enacts as follows:

PART I 1. The Co-ope1'ative Ma1'keting Associations Gua1'antee Act, being

chapter 252 of the Revised Statutes of Alberta, 1942, is hereby amended. 2. The following

section is added immediately after sec tion 7: "8.

(1) In this section, "(a) "co-operative association" means an association within the meaning of The Co-pe'i'ative Associa tions Act, 1946, that has borrowed public moneys under any Act of the Province or that has had any of its borrowings guaranteed by the Government of Alberta or the Provincial Treasurer under or pursuant to this or any other Act of the Legislature; "( b) "Supervisor" means the Supervisor of Co-operative Activities appointed pursuant to The Co-operative Associations Act, 1946. "

(2) Where a co-operative association is in arrears on its repayment of any loan or is, in the opinion of the Pro vincial Treasurer, likely to go into arrears on its repay nlent of any loan, the Lieutenant Governor in Council, upon the recommendation of the Provincial Treasurer, may by order appoint the Supervisor a director of the co-operative association until such time as the association no longer, in the opinion of the Provincial Treasurer, requires the ser vices of the Supervisor, or for any period fixed in the order. "

(3) The Supervisor upon appointment and for the per iod of appointment may exercise all the powers and duties of the directors for the collection and repayment of any loan and interest thereon or any instalnlents or moneys owing by any member to the co-operative association or any instalments or moneys accruing due to the association or to the lender thereto.".

Part II relates the amendment to the revision and consolidation.

PART II 3. The Co-operat'ive Market'ing Associations Guarantee Act, being

chapter 60 of the Revised Statutes of Alberta, 1955, is hereby amended. 4. The following

section is added immediately after sec tion 9: H10.

(1) In this section, "(a) "co-operative association" means an association within the meaning of The Co-operative Associa tions Act that has borrowed public moneys under any Act of the Province or that has had any of its borrowings guaranteed by the Government of Al berta or the Provincial Treasurer under or pursuant to this or any other Act of the Legislature; " (

b) HSupervisor" means the Supervisor of Co-operative Activities appointed pursuant to The Co-operative Associations Act. "

(2) Where a co-operative association is in arrears on its repayment of any loan or is, in the opinion of the Provin cial Treasurer, likely to go into arrears on its repayment of any loan, the Lieutenant Governor in Council, upon the recommendation of the Provincial Treasurer, may by order appoint the Supervisor a director of the co-operative as sociation until such time as the association no longer, in the opinion of the Provincial Treasurer, requires the services of the Supervisor, or for any period fixed in the order. "

(3) The Supervisor upon appointment and for the per iod of appointment may exercise all the powers and duties of the directors for the collection and repayment of any loan and interest thereon or any instalments or moneys owing by any member to the co-operative association or any in stalments or moneys accruing due to the association or to the lender thereto.". 5.

Part I and this

section COlne into force on the day this Act is assented to, and

Part II, except this section, comes into force and

Part I is repealed the day the Revised Sta tutes of Alberta, 1955, conle into force.

SECOND SESSION THIRTEENTH LEGISLATURE 4 ELIZABETH II 1956 BILL

An Act to amend The Co-operative Marketing Associations Guarantee Act Received and read the First time ......................................... . Second time ....................................... . Third time ........................ . HON. MR. REIERSON Title: 1956 (13th, 2nd) Bill 31,

An Act to amend The Co-operative Marketing Associations Guarantee Act

Document details

Collection	Alberta — Bills
Citation	L13 S2 6390
Type	bill
Volume / chapter	L13 S2 6390
Language	en
Format	json
Source	PROVINCIAL
Identifier	5f043cbedcf398b4969ac400bb3338106fe7296e

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