Bill 21 (Legislature 12, Session 2)

L12 S2 6567

Alberta — Bills

Bill No. 21 of 1954 A BILL TO AMEND THE RURAL ELECTRIFICATION REVOLVING FUND ACT NOTE This Bill amends The Rural Electrification Revolving Fund Act, being

chapter 101 of the Statutes of Alberta, 1953. Subsection (4) of

section 7, subclauses (ii) and (iii) of clause (

d) of subsection (1) of

section 9, clause (

c) of sub section (3) of

section 14, subsections (2) and (3) of

section 15,

section 16, subsections (2) and (4) of

section 19,

section 20 and Form A of the

Schedule are amended for the purpose of providing for annual payments under a lien note by pay ments of interest accrued on the unpaid principal and by payments of equal annual instalments of principal. Previ ously the word "instalment" contemplated an equal annual payment of both principal and interest. With this amend ment the word "instalment" where it occurs will refer only to the payments of principal, and the word "interest" will refer only to the payments of interest accrued on the unpaid principal.

Section 9 is amended by adding a new clause (

e) in sub section (1) for the purpose of extending the effect of a lien note to the interest of the member in the land to which electricity is to be conveyed. Previously the lien note only affected the land of the member to which electricity is to be conveyed. A new subsection (la) is added to permit the Supervisor of Co-operative Activities to approve a lien note against the land of a member or the interest of a mem ber in the land whether or not it is land to which electricity is to be conveyed. A new subsection (3) is added which pro vides that a lien note is to affect only the interest of the member in the surface rights of land.

Section 11 is amended to correct a typographical error.

Section 15 is amended by providing for the payments of interest into the General Revenue Fund as required by

section 5. Subsection (2) of

section 17 is amended to clarify the meaning of the subsection. A new subsection (3) is added to permit the P'Ostponement of a lien by the Supervisor of Co-operative Activities where deemed necessary. A new subsecti'On (4) is added to provide for the continuation of the lien even after tax recovery proceedings have been taken.

Section 18 is amended by striking 'Out subsection (1) and substituting a new subsection (1) for the purpose of bring ing the provisions of this subsection into conformity with the amendments made to

section 9. This Bill c'Omes into force upon assent. J. W. RYAN, Acting Legislative Counsel. (This note does not form any part of the Bill but is offered in explanation of its provisions.)

BILL No. 21 of 1954

An Act to amend The Rural Electrification Revolving Fund Act (Assented to , 1954) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. The Rural Electrification Revolving Fund Act, being

chapter 101 of the Statutes of Alberta, 1953, is hereby amended.

Section 7, subsection (4) is amended by striking out

Section 7 the words "and interest". amended

Section 9 is amended (

a) as to subclause (ii) of clause (

d) of subsection

Section 9 (1) by striking out the words "and interest"; amended (

b) by striking out subclause (iii) of clause (

d) of subsection (1) and by substituting the following: "(iii) the date when "(

A) each instalment of principal, and "(

B) the accrued interest on the unpaid prin cipal, is to be paid," ; (

c) by adding immediately after clause (

d) of subsec tion (1) the following new clause: " (

e) against "(

i) the land of the member, or "(ii) the interest of the member in the land, to which the electricity is to be conveyed."; (d)' by adding immediately after subsection (1) the following new subsection: "(la) Where the Supervisor of Co-operative Ac- Approval of tivities deems it expedient to do so he may lien note approve a lien note against " (

a) any land of the member whether or not electricity is to be conveyed to that land, or " (

b) any interest of the member in land whether or not it is an interest in land to which electricity is to be conveyed."; (

e) by adding immediately after subsection (2) the following new subsection:

Surface rights

Section 11 amended

Section 14 amended

Section 15 amended Moneys due and payable when member In default Enforce ment of payment Default 2 "

(3) The lien note shall affect only the interest of the member in the surface rights of land.".

Section 11, subsection (1), clause (

c) is amended by striking out the word "is" and by substituting the word "are" .

Section 14, subsection (3) is amended by striking out clause (

c) and by substituting the following: " (

c) the duties of theassocia tion with respect to the collection "(

i) of instalments of the principal, and "(ii) of the accrued interest on the unpaid principal, from the members,".

Section 15 is amended (

a) as to subsection (1) by adding immediately at the end thereof the words "or to the General Revenue Fund of the Province, as provided for in

section 5" ; (

b) by striking out subsection (2) and by substituting the following: "

(2) If default is made by a member in the due payment of " (

a) instalments of the principal, "(

b) accrued interest on the unpaid principal, in respect of any lien note made by him under sec tion 9, all moneys payable by the member under his lien note become due and payable. "

(3) If a member defaults under subsection (2) in due payment of the moneys payable the associ ation "(

a) shall instruct the power company to discon tinue electric service to the member in question, and " (

b) then in its discretion at any time may take such action as is necessary to enforce payment of the lien note."; (

c) by striking out subsection (3) and by substituting the following: "

(4) Notwithstanding subsection (2) and sub section (3) if a member who is in default of pay ment of instalments of principal or of payments of accrued interest on unpaid principal in respect of a lien note later pays the arrears of accrued interest on the unpaid principal and of instalments on the principal, the association in its discretion "(

a) may cancel its instructions to the power com pany and the power company may thereafter resume electric service to the member upon payment of reconnection fees and other charges as are required of him,

3 " (

b) may reinstate the lien note of the member and thereafter the member "(

i) shall pay the instalments of principal, and "(ii) shall pay the accrued interest on the unpaid principal, in accordance with the terms of his lien note.",

Section 16 is amended by striking out the words "pay-

Section 16 ment of instalments is to be made to the association upon amended the due dates thereof" and by substituting the following: "(

a) payment of instalments of principal, and " (

b) payment of accrued interest on the unpaid prin cipal, is to be made to the association upon the due dates thereof." ,

Section 17 is amended (

a) as to subsection (2) (

i) by adding immediately after the word and letter "Form B" the word "and", (ii) by adding immediately after the words "regis tration district" the word "and"; (

b) by adding immediately after subsection (3) the following new subsections:

Section 17 amended "( 4) A lien may be postponed at the discretion Pos.tpone of the Supervisor of Co-operative Activities in ac- ~~~;tr~~ion cordance with subsection (3) of

section 107 of The of lien Land Titles Act. "

(5) Notwithstanding the provisions of The Tax Continuing Recovery Act, a lien filed in respect of land or an lien interest in land under this Act continues to be an encumbrance against that land registered in the name of a subsequent owner or owners to the same extent as if proceedings had not been taken under The Tax Recovery Act.".

Section 18 is amended

Section 18 (1) d b b t 't t' amended (

a) by striking out subsection an y su s 1 u Ing the following: "18.

(1) When a notice in Form B is filed the ~otice of association has a lien hen " (

a) upon the land of a member to which electricity is to be conveyed, " (

b) upon the interest of a member in the land to which electricity is to be conveyed, " (

c) upon the land or the interest in the land of a member in respect of which the association holds a lien as provided by subsection (2) of

section 9, to the amount of the lien note of the member held by the association, and the lien has the same priority

Section 20 amended

Schedule amended 4 as if it were a mortgage under The Land Titles Act to secure the total amount of the note of the member registered in the proper Land Titles Office at the time at which the notice referred to in sec tion 17 was filed in such Land Titles Office."; (

b) by striking out the words "to which electricity is conveyed or to be conveyed by an association and" where they occur in subsection (2).

Section 20 is amended by adding immediately after the word "instalments" wherever it occurs the words "of princi pal" . 11. The

Schedule is amended by striking out Form A and by substituting the following: "FORM A " (Section 9) "MEMBER'S LIEN NOTE "I, ............................ , of ............................ , in the Province of Alberta, Farmer, a member of the ........................ Rural Electrification Association, Limited, hereby promise to pay to the ................................ Rural Electrification Association, Limited, within .................... years from the .................... day of ............................

A.D. 19 .......... , being the day from which interest shall be computed, the following sum, that is .......... .. dollars, (hereinafter called the principal), with interest at the rate of three and one-half per cent per annum, the principal to be repayable in instalments as follows: 1st instalment .......... dollars on the .......... day of .......... 19 ... . 2nd instalment .......... dollars on the .......... day of .......... 19 .. .. 3rd instalment .......... dollars on the .......... day of .......... 19 .. .. 4th instalment ......... dollars on the .......... day of .......... 19 .. .. 5th instalment .......... dollars on the .......... day of .......... 19 .. .. 6th instalment ......... dollars on the .......... day of .......... 19 .. .. 7th instalment ........ dollars on the .......... day of .......... 19 .. .. 8th instalment .......... dollars on the .......... day of ........ 19 ... . 9th instalment .......... dollars on the .......... day of .......... 19 .. .. 10th instalment ........ dollars on the ......... day of .......... 19 .. .. together with accrued interest on the unpaid principal on eai!h of the above dates.

"Until otherwis·e advised in writing by the Secretary of the said Association, I shall pay the above instalments when due to the Secretary-Treasurer of the ....................... . Rural Electrification Association, Limited, at ...................... .. in the Province of Alberta. Description of land: .......................... ,

section .......................... , Township .......... , Rang·e .......... , West of the .......... Meridian.

5 "Dated at '" .... , in the Province of Alberta, this ............................ d'ay of ........................... , 19 ........ . "The above was made and signed in my presence by the said ....... . .................... this .................. day of ........................ 19 ........ . "Signature of Member "Signature of Officer "Rural Electrification Association, Limited." 12. Form B in the

Schedule is amended by adding im-

Schedule mediately after the words "has a lien upon the interest amended of the said member in" the words "the land described as follows:" . 13. This Act comes into force on the day upon which it fOming into is assented to. orce

No. 21 SECOND SESSION TWELFfH LEGISLATURE 3 ELIZABETH II 1954 BILL

An Act to amend The Rural Electri fication Revolving Fund Act Received and read the First time ..... Second time . Third time. HON. MR. WILLMORE Title: 1954 (12th, 2nd) Bill 21,

An Act to amend The Rural Electrification Revolving Fund Act

Document details

Collection	Alberta — Bills
Citation	L12 S2 6567
Type	bill
Volume / chapter	L12 S2 6567
Language	en
Format	json
Source	PROVINCIAL
Identifier	92cbe112f108f944ffc1a7fe064ec684d09555d5

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