Bill 82 (Legislature 9, Session 4)

L9 S4 7687

Alberta — Bills

A BILL TO AMEND THE PROVINCIAL LOANS ACT NOTE. This Bill amends The Provincial Loans Act,

chapter 53, R.S.A., 1942.

Section of the Act which is amended by

section of the Bill provides for the issue of Alberta Government stock which shall not be redeemable in less than thirty years from the date of issue. The amendment reduces the time in which it is redeemable to ten years.

Section which is amended by

section of the Bill authorizes the Lieutenant Governor in Council to raise by way of loan the sums neces sary to implement the guarantee of the Province on outstanding obligations such as bonds. The amendment extends this authority to the case of guarantees which have not matured. w. S. GRAY, Acting Legislative Counsel. (This note does not form any part of the Bill but is offered in explanation of its provisions.) B ILL No. 82 of 1944 ~n Act to amend The Provincial Loans Act. (Assented to , 1944.) HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alb~rta, enacts as follows: 1. The Provincial Loans Act, being

chapter of the Revised Statutes of Alberta, 1942, is hereby amended as to

section by striking out the words "thirty years" where the same occur in subsection (3) thereof, and by substituting therefor the words "ten years". 2. The said Act is further amended as to

section 15-- (

a) by adding immediately after the words "under the terms of any guarantee" where the same occur in the seventh line thereof, the words "or becomes desirable"; (

b) by adding immediately after the words "any guarantee or any part thereof" where the same occur in the eleventh line thereof, the words "or to make payment of the whole or any part of any guaranteed bonds or debentures or interest whether or not default has been made in payment of the principal or interest due under the bonds or debentures". 3. This Act shall come into force on the day upon which it is assented to.

FOURTH SESSION NINTH LEGISLATURE GEORGE VI B ILL An Ac t to amend The Provincial Loans Act. =--=--==-=.:=:==-===--~ ==-:::::=::.=::-=--=====--..:= Received and read the First time _____________ _ Second time ____________ _ Third time _________ _ ------------- - ---- ----- HaN. rl1R. LOW. EDMONTON: A. Shnitka, King's Printer Title: 1944 (9th, 4th) Bill 82,

An Act to amend The Provincial Loans Act

Document details

Collection	Alberta — Bills
Citation	L9 S4 7687
Type	bill
Volume / chapter	L9 S4 7687
Language	en
Format	json
Source	PROVINCIAL
Identifier	6daa96836a7cbb5ecb1537350ba936bf74ea3cee

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