Bill 42 — Third Session, 17Th Legislature, 23 Elizabeth Ii the Legislative Assembly of Alberta Bill 42 the Wage Assignments Act (Legislature 17, Session 3)

L17 S3 5308

Alberta — Bills

1974 Bill Third Session, 17th Legislature, 23 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL The Wage Assignments Act MR. LEE First Reading .............................. . Second Reading ............................ . Third Reading Printed by L. $. WALL, Queen's Printer for the Province of Alberta, EDMONTON Bill Mr. Lee BILL THE WAGE ASSIGNMENTS ACT ( Assented to ,1974) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1.

In this Act (a) "lending institution" means a person who lends money in the ordinary course of his business or his operations; (b) "wages" includes salary. 2. Any assignment made after the commencement of this Act by any person of all or any part of his wages to secure the payment of an existing or future indebtedness (

a) is against public policy and void, if it is made in favour of a lending institution, or (

b) is unenforceable by a lending institution, if it is originally made in favour of a person 'Other than a lending institution and is subsequently acquired by a lending institution. 3. This Act comes into force on the day upon which it is assented to. Expla natory Notes I.

Definitions. 2. Assignments in favour of or in the hands of a lending institu tion, are void. Title: 1974 (17th, 3rd) Bill 42, The Wage Assignments Act

Document details

Collection	Alberta — Bills
Citation	L17 S3 5308
Type	bill
Volume / chapter	L17 S3 5308
Language	en
Format	json
Source	PROVINCIAL
Identifier	85ddf87c071f01c97043ba37b8bb579cdc014e37

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