1972 Bill First Session, 17th Legislature, 21 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL The Corporate Farming Act MR. NOTLEY First Reading . . . . . . . . . . . . . . . . . . . .. . ....... . Second Reading ... Third Reading .............................. . Printed by L. S.

Wall, Queen's Printer, Edmonton BILL 208 THE CORPORATE FARMING ACT (Assented to , 1972) WHgREAS the people of Alberta desire to maintain the family farm as a living, vibrant part of the Alberta society; AND WHEREAS large corporations through their finan­ cial power may threaten the existence of the family farm in Alberta; AND WHEREAS it is the duty of the government of the Province of Alberta to ensure that the family farm is pro­ tected from such a threat; THEREFORE HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1.

Thi:: Act may be cited as The COTporate Farming A.ct. 2. In this Act, (a) "corporation" means any company, domestic or foreign, incorporated in or out of Alberta; (b) "farmer" means a person (

i) who is in poss'ession of a farm as an owner or purchaser, (ii) whose principal occupation is farming, and (iii) who meets the requirements prescribed by this Act; (c) "farming" includes the production of crops from the soil, llivestock raising, poultry raising, dairying, and beekeeping. 3. All corporations, except as otherwise provided in this Act, are hereby prohibited from engaging in the business of farming or agriculture. 4.

All corporations, which now hold or own rural real estate, which was acquired prior to the commencement of this Act, and which is now used for farming or agriculture, or which is suitable for farming or agriculture, shall dis­ pose of the same on or before January 1, 1975. 5. In the event that any corporation violates the provi­ sions of this Act, or fails to dispose of any real estate re­ ferred to in

section 4, to which it has title, then title to such real estate shall escheat to the Province of Alberta, which shall dispos'e of the land within one year at public auction to the highest bidder, and the proceeds of such sale shall be pa'id into the General Revenue Fund. 6. Family farm corporations, 80 per cent or more of whose income is derived directly from their agri'cultural activities, and which have been incorporated for taxation purposes, are specifically 'exempted from the provis,ions of this Act. 7.

Co-operative 'corpora.tions, 80 per cent or more of whose members are actual farmers residing on farms, or depending ,principally on farming for their livelihood, are s:pecifieally exempted from the v,rovisions of this Act. 8. This Act comes into force on the day upon which it is assented to. 2 Title: 1972 (17th, 1st) Bill 208, The Corporate Farming Act