Columbus Club of Sault Ste — Private Bill PR8 (36th Parliament, 3rd Session)

Bill PR8, 36-3

Ontario — Bills

3RD SESSION, 36TH LEGISLATURE, ONTARIO ELIZABETH II, 1999 Bill Pr8

An Act respecting the Columbus Club of Sault Ste. Marie Ltd. Mr. Martin Private Bill 1st Reading April 27, 1999 2nd Reading 3rd Reading Royal Assent Printed by the Legislative Assembly of Ontario EXPLANATORY NOTE The purpose of the Bill is set out in the

Preamble. Bill Pr8

An Act respecting the Columbus Club of Sault Ste. Marie Ltd.

Preamble Authorization Columbus Club of Sault Ste. Marie Ltd. (“the Club”) has applied for special legislation to enable it to become a corporation without share capital. The Club represents that it was incorporated under the laws of Ontario by let- ters patent dated May 7, 1915 as a corporation with share capital. It is appropriate to grant the application. Therefore, Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows: 1.

(1) An application by the Club under sub- section 131 (1) (

f) of the Corporations Act for conversion into a corporation without share capital shall be authorized by resolution of the board of directors. (2) Subsection 131 (3) of the Corporations Act does not apply with respect to an applica- tion described in subsection (1). 2. The Club shall establish a reserve fund for the redemption of shares issued before the conversion of the Club into a corporation with- out share capital. 3. This Act comes into force on the day it receives Royal Assent. 4. The

short title of this Act is the Columbus Club of Sault Ste. Marie Act, 1999. Same Reserve fund Commence- ment

Short title ___________________ EXPLANATORY NOTE The purpose of the Bill is set out in the

Preamble.

Document details

Collection	Ontario — Bills
Citation	Bill PR8, 36-3
Type	bill
Volume / chapter	p36 s3 bill pr8 bill text 36 3 en PR008.pdf
Language	en
Format	pdf
Source	PROVINCIAL
Identifier	65c346a471381fc2bf790a116da7a1e2f7c30919

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