Bill 15 — An Act To Amend the Financial Administration Act the Provincial Treasurer (Legislature 16, Session 2)

L16 S2 4582

Alberta — Bills

, , i • SecoM Session. 16th Le!rislalUre. 18 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL

An Act to amend The Financial Administration Act THE PROVINCIAL TREASURER First Reading Second Reading Third Reading Printed by L. S. Wall, ·lueen'51 Printer. Edmonton BILL 15 :969 ... ~n ~-\.ct to amend The Financial Aaministration Act (Assented to , 1969) HER :YIAJESTY by and ,vith the advice and consent of the Legislativ~ Assembly of the Province of Albert~. enacts as follows: 1. The Financial Administration Act is hereby amended. 2.

Section is amended by striking out subsection (1) and by substituting the following: 72.

(1) Any securities may be sold at such price or prices ,vhether at par value thereof or less or more ~han the p~r value thereof, and upon such terms and conditions as are considered expedient by (Cl) the Lieutenant Governor in Council, or (lJ) the Treasurer, agent or other person appointed. by :he Lieutenant Governor in Council for the purpose ur negotiating the loan. 3.

Section is anlended by striking out the word~ "may be" and by substituting the words "shall be". 4. The following

section is added after

section 87: 87a. Any money invested in securities and treasury bills of the Government of Alberta and any interest thereon is not free from any Provincial taxation, succession duty, charges or impositions, unless the Lieutenant Governor in Council so directs with respect to any specified issue of :securities or treasury bills. 5. This Act comes into force on the day upon which it is assented to. explanatory Notes I. This Bill amends

chapter of the Statutes of Alberta, 1968. 2. SectIOn 72 (1) presently reads: 72. (1) _\.ny securiti ... " lnay be suld at such price or prices, whether at the }Jar yalue thereof or Ie"" or rnore than the par value thereof. and on :such terms and eonditiol1s, as tht' Lieutenant Governor in Coundl ur the 'l'reasurer or other person or agent appointed for the purpose of negotiating any loan con:::;iders expedient. 3. Sectlon presently reads: 80. _\'11 moue~r l'elluired to pruvide a sinking fund or otherwise re llUired to Secure ~

a) the repaYluent of SeCUrltle,.;. (

b) the remuneratiun and l'UInlJensatlon of registrars and iIscal agents, and (

C) the payulent uf all costs, expen:::;es and charg'es incurred in the negotiation ur raising of loans or in tht' issue, redemption, servieing, payment and rnanagelnent of any loans and any :::;ecurities issued in respect thereof, may be paid out of the lielleral HeYellUe Fund, .... Liability to taxation. Title: 1969 (16th, 2nd) Bill 15,

An Act to amend The Financial Administration Act

Document details

Collection	Alberta — Bills
Citation	L16 S2 4582
Type	bill
Volume / chapter	L16 S2 4582
Language	en
Format	json
Source	PROVINCIAL
Identifier	832db6f04c89a5d29a5524d0fd539fda43be6fe6

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