Bill 115 (Legislature 11, Session 4)

L11 S4 7026

Alberta — Bills

Bill No. 115 of 1951. A BILL TO AMEND THE ALBERTA NATURAL RESOURCES ACT. NOTE. This Bill amends The Alberta Natural Resources Act, being

chapter 21 of the Statutes of Alberta, 1930. Sections 6 and 7 of that agreement deal with the school lands fund and school lands. The amending agreement approved by this Bill makes an addition to se~tion 7 of the original agreement.

The additional provision enables the investment of moneys in the school lands fund in securities of Canada or of any province, or of a municipal corpora tion, school district or school division in the Province of Alberta, or in securities guaranteed by Canada or by a province. ;:'1; I The amending agreement is subj ect to its being approved by the Parliament of Canada and by the Legislature of Alberta and takes effect from the first day of the calendar month beginning after the approval of the agreement by the Legislature and the Parliament respectively. KENNETH A. McKENZIE,.

Legislative Counsel. (This note does not forrn any part of the Bill but is offered in explanation of its provisions.)

BILL No. 115 of 1951.

An Act to amend The Alberta Natural Resources Act. (A.ssented to , 1951.) HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enaets as follows: 1. This A:et may be cited as "The Alberta Natural Re sources Act Amendment Act, 1951. 2. An agreement dated the thirty-first day of March, A.D. 1951, and made between the Government of Canada, represented herein by the Honourable Douglas Charles Abbott, Minister of Finance, of the First Part, and the Government of the Province of Alberta, represented herein by the Honourable Ernest Charles Manning, Premier of Alberta and Provincial Treasurer, of the Second Part, and s~t forth in the

Schedule to this Act is hereby approved, ratified and confirmed. . 3. This Act shall come into force on the day upon which it is assented to. "SCHEDULE. "MEMORANDUM OF AGREEMENT. "Made this 31st day of March, 1951. BETWEEN "THE GOVERNMENT OF CANADA, represented here in by the Honourable Douglas Charles Abbott, Minister of Finance, Of the ,first part, AND "THE GOVERNMENT OF THE PROVINCE OF ALBERTA, represented herein by the Honou'rable Ernest Charl~s Manning, Premier of Alberta and Provincial Treasurer, Of the s~ond part.

"Whereas the Agreement entered into between the parties hereto on the 14th day of December, A.D. 1929 (hereinafter referred to as the Natural Resources Transfer Agreement) was duly approved by the Parliament of Canada and the Legislature of the Province and upon an address to His Majesty from the Senate and House of Commons of Canada, was confirmed and declared to have the force of law by

an Act of the Parliament of the United Kingdom of Great

2 Britain and Northern Ireland entitled "The British North A merica Act, 1930" being

chapter twenty-six of the Imperial Statutes, 20-21 George V; "And

whereas by paragraph twenty-four of the said Natural Resources Transfer Agreement it was agreed that the provisions of the said Agreement might be varied by an Agreement confirmed by concurrent Statutes o~ the Parliament of Canada and the Legislature of the ProvInce; "And

whereas paragraphs six and seven of the Natural Resources Transfer Agreement provide as follows: "6. Upon the coming into force of this Agreement, Canada will transfer to the Province the money or secur ities constituting that portion of tlJ.e School Lands Fund, created under sections twenty-two and twenty-three of The Act to amend and consolidate the several Acts re specting Public Lands of the Dominion, being

chapter thirty-one of forty-two Victoria, and subsequent statutes, which is derived from the disposition of any school lands within the Province or within that part of the Northwest Territories now included within the boundaries thereof. "7. The School Lands Fund to be transferred to the Province as aforesaid, and such of the s;ehool lands specified in

section thirty-seven of the Dominion Lands Act, being

chapter one hundred and thirteen of the Re vised Statutes of Canada, 1927, as pass to the administra tion of the Province under the terms hereof, shall be set aside and shall continue to be administered by the Pro vince in accordance, mutatis mutandis, with the provis ions of sections thirty-seven to forty· of the Dominion Lands Act, for the support of schools organized and carried on therein in accordance with the law of the Province. . "And

whereas the effect of these provisions is that money obtained from the sale of the school lands specified therein and the said School Lands Fund may be invested only in securities of Canada; "And

whereas it has been agreed that provision should be made for the investment of such money in other secur ities as hereinafter provided: "NOW THEREFORE THIS AGREEMENT WIT NESSETH THAT: "1.

Paragraph seven of the Natural Resources Transfer Agreement is amended by adding thereto the following provision: "The Province will, notwithstanding anything in this Agreement, invest money to which this paragraph applies in securities of Canada, or of a Province, or of a municipal corporation, school district or school division in the Province of Alberta, or in securities guaranteed by Can ada or a Province, to form a school fund, and win apply the interest arising therefrom, after deducting the cost of management, for the support of schools organized and carried on in accordance with the law of the Province.

:3 "2. This Agreement is made subject to its being approved by the Parliament 'Of Canada and by the Legislature of the Province of Alberta, and shall take effect on the first day of the calendar m.onth beginning next after its approval as aforesaid, whichever approval, that of the Parliament of Canada or that of the Legislature 'Of the Province, shall be later in date.

"In witness whereof, the Honourable Douglas Charles Abbott, Minister of Finance, has hereunto set his hand on behalf of Canada; and the Hon'Ourable Ernest Charles Manning, Premier of Alberta and Provincial Treasurer, has hereunto set his hand on behalf of the Province of Alberta "Signed on behalf of the Gov- ernment 'Of Canada by the Honourable Douglas Charles "D. C. ABBOTT" Abbott, Minister 'Of Finance, in the presence of "W. C. CLARK" "Signed on behalf of the Gov ernment .of Alberta by the Hon'Ourable Ernest Char les Manning, Premier of Alberta "EHNEST MANNING" and Provincial Treasurer, in the presence of "D.

HOPE"

FOURTH SESSION ELEVENTH LEGISLATURE 15 GEORGE VI 19,51 BILL

An Act to amend The Alberta Natural Resources Act. Received and read the First time Second time Third time HON. MR. MANNING. Title: 1951 (11th, 4th) Bill 115,

An Act to amend The Alberta Natural Resources Act

Document details

Collection	Alberta — Bills
Citation	L11 S4 7026
Type	bill
Volume / chapter	L11 S4 7026
Language	en
Format	json
Source	PROVINCIAL
Identifier	725e19051149362f4129d0c88db7d525d566ba64

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