Bill 68 (Legislature 7, Session 4)

L7 S4 8656

Alberta — Bills

Bill No. 68 of 1934. A BILL TO SUPPLEMENT LEGISLATION OF THE PARLIAMENT OF CANADA RELATING TO COM PROMISES OF DEBTS OWING BY AND CREDITS FOR PERSONS ENGAGED IN AGRICULTURE. NOTE. This Bill makes provision for supplementing legislation of the Parliament of Canada relating to the extension of credits to agriculture, and the effecting of compromises of debts of persons engaged in agriculture. By

section 3 of the Bill a fiduciary is empowered to make a compromise with a debtor for a sum less than the amount of the debt, whether secured or unsecured.

Section 4 of the Bill provides for agreements for com promising and consolidating tax indebtedness of persons engaged in agriculture. R. ANDREW SMITH, Legislative Counsel. (This note does not form any part of the Bill and is ojje1'ed merely as a partial explanation of some of its provisions.)

BILL No. 68 of 1934.

An Act to Supplement Legislation of the Parliament of Canada Relating to Compromises of Debts Owing by and Credits for Persons Engaged in Agriculture. (Assented to , 1934.) HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. This Act may be cited as "The Provincial Agricultural Debts and Credits Act." 2.

The Lieutenant Governor in Council is empowered to proclaim any legislation enacted by the Parliament of Canada to be in force in the Province which has for any of its objects the extension of credit to persons enga.ged in Agriculture and the effecting of compromises between such persons and their creditors or either of those objects, to the extent that the legislation so proclaimed is not within the legislative competence of the Parliament of Canada and is within that of the Legislative Assembly of the Province, and upon being so proclaimed, that legislation shall to the extent aforesaid have force in the Province as if it had been expressly enacted as a statute of the Province. 3.

For the purpose of effecting any compromise to any person engaged in agriculture and his creditors effected pursuant to any statute of the Parliament of Canada or any statute of the Province, it shall be lawful for any creditor whose right to receive a debt is in the character of a trustee or fiduciary to accept by way of compromise any lesser amount than the amount due and owing in respect of the debt, whether that debt be secured or unsecured. 4.

For the purpose of implementing any compromise of debts under any legislation of Canada so proclaimed to be in force, the Lieutenant Governor in Council may from time to time make regulations authorizing any city, town, village, municipal district or improvement district to enter into agreements for the purpose of compromising or con solidating, or compromising and consolidating any tax arrears owing to it by any person engaged in agriculture and to waive, either wholly or in part, interest and penal ties on arrears of taxes, and may prescribe the conditions and terms of any such agreements and as to the procedure to be followed in respect therewith, and may suspend all or

2 any of the provisions of any Act relating to the recovery of taxes in the application to any land in respect of which an agreement has been entered into during the subsistence thereof. 5.

For the purpose of securing the repayment of any money which may be advanced under the provisions of any legislation of Canada so proclaimed to be in force, any per son designated by that statute as the official charged with the duty of administration thereof may, within sixty days after the making of any such advance, file or cause to be filed a notice signed by him or by some person on his behalf in the office of the Registration Clerk of the Registration District in which the person to whom the advance is made resides at the time of the advance, and thereupon all the goods and chattels of that person shall be subject to a first charge for the purpose of securing the amount of the ad vance and all interest thereon, and none of the provisions of The Bills of Sale Act shall have any application thereto. 6.

In case a conflict arises between the provisions of any legislation of Canada proclaimed to be in force pursuant to this Act and any other statute of the Province, the pro visions of the statute so proclaimed to be in force shall prevail. 7. This Act shall come into force upon a date to be fixed by Proclamation of the Lieutenant Governor in Council.

No. 68. FOURTH SESSION SEVENTH LEGISLATURE 24 GEORGE V 1934 BILL

An Act to Supplement Legislation of the Parliament of Canada Relating to Oompromises of Debts Owing by and Credits for Persons Engaged in Agriculture. Received and read the First time ............................ . ........................ . Second time ........................................................... . Third time .............................................................. . HON. MR. BROWNLEE EDMONTON: W. D. McLEAN, KING'S PRINTBR 1984 Title: 1934 (7th, 4th) Bill 68,

An Act to Supplement Legislation of the Parliament of Canada Relating to Compromises of Debts Owing by and Credits for Persons Engaged in Agriculture

Document details

Collection	Alberta — Bills
Citation	L7 S4 8656
Type	bill
Volume / chapter	L7 S4 8656
Language	en
Format	json
Source	PROVINCIAL
Identifier	94175cf3b02fa6fdeef4715c21cd0665b9bad11d

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