Bill 11 (Legislature 28, Session 3)

L28 S3 11574

Alberta — Bills

2014 Bill 11 Third Session, 28th Legislature, 63 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL 11 SAVINGS MANAGEMENT REPEAL ACT THE PRESIDENT OF TREASURY BOARD AND MINISTER OF FINANCE First Reading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Second Reading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Committee of the Whole . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Third Reading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Royal Assent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1 Bill 11 BILL 11 2014 SAVINGS MANAGEMENT REPEAL ACT ( A s s e n t e d t o , 2 0 1 4 ) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: Repeal of SA 2014 cS-2.5 1 The Savings Management Act, SA 2014 cS-2.5, is repealed. Disestablishment of Accounts and Fund 2 The Social Innovation Endowment Account, the Agriculture and Food Innovation Endowment Account and the Alberta Future Fund established under the Savings Management Act are disestablished. Consequential amendments 3(1) The Access to the Future Act is amended by repealing

section 4(4.2) and substituting the following:

(4.2) For the purpose of subsection (4.1)(a), the adjustment is determined in accordance with the following formula: A x B where A is the opening balance of the account in the fiscal year; B is the annual rate of return for the Alberta Heritage Savings Trust Fund as published in the Alberta Heritage

1 Explanatory Notes Explanatory Notes 1 Repeals

chapter S-2.5 of the Statutes of Alberta, 2014. 2 Disestablishment of accounts and fund. 3(1) Amends

chapter cA-1.5 of the Statutes of Alberta, 2005.

Section 4(4.2) presently reads:

(4.2) For the purpose of subsection (4.1)(a), the adjustment is determined in accordance with the following formula: A x B where A is the opening balance of the account in the fiscal year; B is the rate of return for the Heritage Fund, as defined in the Savings Management Act, for that fiscal year.

2 Savings Trust Fund’s audited annual financial statements for that fiscal year.

(2) The Alberta Heritage Scholarship Act is amended by repealing

section 2(2.2).

2 Explanatory Notes

(2) Amends

chapter A-24 of the Statutes of Alberta, 2014.

Section 2(2.2) presently reads:

(2.2) The President of Treasury Board and Minister of Finance may pay into the Fund from the Alberta Heritage Savings Trust Fund the amount referred to in

section 7 of the Savings Management Act, in accordance with that

section and in a manner considered appropriate by the President of Treasury Board and Minister of Finance.

RECORD OF DEBATE Stage Date Member From To Questions and Comments From To Stage Date Member From To Questions and Comments From To Stage Date Member From To Questions and Comments From To Stage Date Member From To Questions and Comments From To Title: 2014 (28th, 3rd) Bill 11, Savings Management Repeal Act

Document details

Collection	Alberta — Bills
Citation	L28 S3 11574
Type	bill
Volume / chapter	L28 S3 11574
Language	en
Format	json
Source	PROVINCIAL
Identifier	8deb30b79c8a28c7d6f77484a9dc9491530eae18

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