Bill 241 — Third Session, 18Th Legislature, 26 Elizabeth Ii the Legislative Assembly of Alberta Bill 241 An Act To Amend the Alberta Heritage Savings Trust Fund Act (Legislature 18, Session 3)

L18 S3 5846

Alberta — Bills

1977 Bill 241 Third Session, 18th Legislature, 26 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL 241

AN ACT TO AMEND THE ALBERTA HERITAGE SAVINGS TRUST FUND ACT MR. CLARK First Reading ........................... . Second Reading ............................ . Third Reading .......................... . Printed by the Queen's Printer for the Province of Alberta, EDMONTON

Bill 241 Mr. Clark BILL 241 1977

AN ACT TO AMEND THE ALBERTA HERITAGE SAVINGS TRUST FUN'D ACT ( Assented to , 1977) HER MAJESTY, by and with the advice and c'Onsent 'Of the LegisJ,ative Assembly 'Of Alberta, enacts as follows: 1. The Alberta Heritage Savings Trust Fund Act is hereby amended.

Section 1 is amended by striking out clause (a).

Section 3 is struck out.

Section 4, is amended by striking out subsections (2), (3) and(4).

Section 6 is amended (

a) as to subsection (1), clause (

c) by striking out the words in the 'Opini'On 'Of the Investment Committee 'Or, (

b) by striking out subsection (3) and substituting the following

(3) Investments referred t'O in subsection (1), clause (b) (

a) shall be made by the Pr'Ovincial Treasurer in c'Ompliance with the directi'Ons c'On tained in any res'Olution 'Of the Legislative Assembly, (

b) shall n'Ot exceed 15 per cent 'Of the assets 'Of the Trust Fund, and (

c) shall form the Canada Investment Division 'Of the Trust Fund. (

c) by striking out section (4) and by substituting the following

(4) Investments referred t'O in subsection (1), clause (c) (

a) shall be made by the Provincial Treasurer in c'Ompliance with ,the directions c'On tained in any resoluti'On 'Of the Legislative Assembly, and (

b) shall f'Orm the Alberta Investment Divisi'On 'Of the Fund.

Explanatory Notes I. Amends c. 2, 1976. 2. Amends s. 1. 3. s. 3 struck out. 4. Amends s. 4. s. Amends s. 5.

Section 'i is struck out and the following is substituted therefor 7. Where any investm'ent is made under

section 6 no disposition shall be made of that investment except pursuant to a resolution of the Legislative Assembly.

Section 8 is struck out.

Section 13 is amended (

a) as to subsection (1) by adding at the end thereof the following of which ten shall be selected from amongst those members who are not members of ,the Executive Council, 'and which shall include at least ,two mem bers nomina ted thereto by the Leader of the Opposition, and shall be chaired by a member who shall be nominated by the Leader of the Opposition. (

b) by adding after subsection (5) the following sub

section ( 6) All proc'eedings orf the Select Standing Committee on the Alberta Heritage Savings Trust Fund Act shall be open to the public, and notice thereof shall be given by eausing to be inserted in at least two newspapers circulating throughout the P~ovince a notice specifying the date, time and place of each meeting, such notice to be published 'at least seven days prior to the meeting. 9. This Act comes into force on the day upon which it is assented to. 2 Title: 1977 (18th, 3rd) Bill 241,

An Act to Amend The Alberta Heritage Savings Trust Fund Act

Document details

Collection	Alberta — Bills
Citation	L18 S3 5846
Type	bill
Volume / chapter	L18 S3 5846
Language	en
Format	json
Source	PROVINCIAL
Identifier	75f7b4318434fb20ea0d7603b463272537532048

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