Bill 33 (Legislature 10, Session 3)

L10 S3 7466

Alberta — Bills

BILL No. 33 of 194'6.

An Act to amend The Alberta Wheat Pool Act, 1929 (Assented to , 1946.) HIS MAJE~TY! by and with the advice and CDnsent of the LegIslatIve Assembly of the PrDvince of Alberta, enacts as follows: 1.. This Act may be cited as "The Alberta Wheat Pool Act 1929, Amendment Act, 1946." , 2. The Alberta Wheat Poll Act, 1929, being

chapter of the Statutes of Alberta, 1929, is hereby amended as to se,ction the'reof by striking out

section and adding in lieu thereof the following: "35. The interest of the members in the assets of the Pool shall be in proportion to their ownership of the reserves whether accumulated by deductions under the marketing agreements, First and Second Series, or by the operation of

section 35 (

b) hereof or acquired by the provisions of

section hereof." 3. The said Act is' further amended as to

section thereof by striking 'Out the proviso thereto and adding in lieu thereof the following: "Provided that no payment shall be made to any member holding re!serves ·of a nominal value of $5.00 or less at the time of any such purchase until the reserve holdings of all members who were signers of the marketing agreement, First and Se·cond Series, has been reduced by purchase here under to the nominal value of five dollars." 4. The said Act is further amended as to

section thereof by striking out the said

section and substituting therefor: "41. The amounts of commercial and elevator reserves so purchased pursuant to the provisions of

section sh.all be held by the Pool in trust for the members of the PO,ol In the proportions in which the members from time to tIme own reserves whether accumulated by deductions under the marketing agreements, First and Second S,eries, and the operation of

section 35 (

b) hereof or acqUIred under the provisions of

section 42, hereof." 5. The said Act is further amended by inserting in ~lause 42 (

c) after the word "cash", wherever it 'Occurs thereIn, the words "or its equivalent". 2 6. The said Act is further amended hy striking out of

section the words "and the proviso thereto" where they occur at the end thereof. 7. The said Act is further amended by adding thereto immediately following

section thereof the following: "46. No reserves issued under the provisions of

section 42 (

c) hereof shall be pur'chased under

section hereof until all of the reserves accumulated by members through deductions under their several marketing agreements, First and ·Second Series, and the operations of

section 35 (

b) hereof have been purchased under se'ction hereof." 8. The said Act is furthe'r amended by adding thereto as

section the following: "47. The Board of Directors may by resolution cancel the membership of any signer of the marketing agreement, First.or Second Series, who did not deliver 'any wheat pur suant thereto and has not otherwise acquired reserves, unless such member does acquire reserves. to the value of five dollars or more wi thin sixty days after notice mailed to him by the Pool requiring him so to. do." 9. This Act shall c.ome into force on the day upon which it is assented to. . THIRD SESSION TENTH LEGISLATURE GEORGE VI BILL

An Act to. amend The Alberta Wheat Pool Act, 1929. Recei ved and read the First time ............................... . Second time ..................................... . Third time ....................................... . MR. ANDERSON. EDMONTON: A. Shnitka, King's Printer Title: 1946 (10th, 3rd) Bill 33,

An Act to amend The Alberta Wheat Pool Act, 1929

Document details

Collection	Alberta — Bills
Citation	L10 S3 7466
Type	bill
Volume / chapter	L10 S3 7466
Language	en
Format	json
Source	PROVINCIAL
Identifier	83ec3afd027e27bab8a578ad1192d5596d7b40b4

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