Bill 200 — Second Session, 17Th Legislature, 21 Elizabeth Ii the Legislative Assembly of Alberta Bill 200 An Act To Amend the Companies Act (Legislature 17, Session 2)

L17 S2 5232

Alberta — Bills

1973 Bill Second Session, 17th Legislature, 21 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL

An Act to Amend The Companies Act MR. ASHTON First Reading Second Reading . Third Reading ............................ . Printed by QUEEN'S PRINTER for the Province of Alberta, EDMONTON Bill Mr. Ashton BILL

AN ACT TO AMEND THE COMPANIES ACT (Assented to , 1973) HER MAJESTY, by and with theadvi'ce and consent of the Legislative Assembly of Alberta, enacts as follows: 1. The Companies Act is hereby amended.

Section 2, subsection (1) is amended by adding after clause the following clause: 29.1 "resident Canadian" means a Canadian citizen who is ordinarily resident in Canada; 3.

Section is an'Lended by adding after subsection (4) the following subsections:

(5) A maj ority of direetors on the board of directors of every company shall be resident Canadians.

(6) The meetings of directors may be held at any place within or outside Alberta, but in any year a majority of the meetings of directors shall be held 'at a place within Canada.

(7) No business of a -company shall be transacted by its directors except at a meeting 'Of directors at which a quorum 'is present and at which a majority of the directors pres'ent are resident Canadians. 4. This Act comes into force on a day to be fixed by Proclamation.

Document details

Collection	Alberta — Bills
Citation	L17 S2 5232
Type	bill
Volume / chapter	L17 S2 5232
Language	en
Format	json
Source	PROVINCIAL
Identifier	69a293dfdbcda9c5a2e7a45217e3ddfe1707d8b6

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