Bill ID 9292 (Legislature 27, Session 4)

L27 S4 9292

Alberta — Bills

2011 Bill Pr2 Fourth Session, 27th Legislature, 60 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL Pr2 GALT SCHOLARSHIP FUND TRANSFER ACT MS PASTOOR First Reading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Second Reading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Committee of the Whole . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. Third Reading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Royal Assent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1 Bill Pr2 Ms Pastoor BILL Pr2 2011 GALT SCHOLARSHIP FUND TRANSFER ACT (Assented to , 2011)

WHEREAS Galt Scholarship Fund Continuance Act,

chapter 44 of the Statutes of Alberta, 1995, determined the purpose for which certain trust funds were to be used;

WHEREAS it is no longer practicable to use the trust funds for the purposes set forth in that Act due to a reduction in the number of eligible applications for scholarships;

WHEREAS the Galt School of Nursing Alumnae Society of Alberta has presented a petition requesting that the terms of the trust be modified, that the trust fund be transferred to the University of Lethbridge and that the Galt Scholarship Fund be continued under this Act; and

WHEREAS it is desirable to grant the said petition; THEREFORE HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows:

Definitions 1 (a) “accumulated income” means income from the trust funds which have been paid to the University by the Society, but which have not been distributed by the University prior to the date of the transfer of the trust funds to the University pursuant to this Act; In this Act, (b) “Society” means Galt School of Nursing Alumnae Society of Alberta;

2 (c) “trust funds” means the funds which are being held in trust by the Society pursuant to

section 4 of the Galt Scholarship Fund Continuance Act; (d) “University” means the Board of Governors of the University of Lethbridge. Continuance 2 The Galt Scholarship Fund, established by the Galt Scholarship Fund Continuance Act, is continued by this Act. Galt Scholarship Fund 3(1) The Society shall, as soon as practicable after this Act comes into force, transfer the trust funds to the University.

(2) The trust funds shall be held by the University in trust, in a fund to be known as the Galt Scholarship Fund.

(3) The corpus of the Galt Scholarship Fund shall be maintained intact, and shall be invested by the University in any investment permitted under the Post-secondary Learning Act in order to provide an income for the purposes set forth in

section 4. Scholarships 4 The University shall use the accumulated income and the income from the Galt Scholarship Fund to provide scholarships to students enrolled at the University of Lethbridge. Administration 5 (

a) fixing the maximum amount of money that may be paid as a scholarship; The University may make rules (

b) respecting the qualifications of applicants for the scholarship; and (

c) respecting the terms and conditions on which the scholarship may be provided. Repeal 6 The Galt Scholarship Fund Continuance Act is repealed.

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: 2011 (27th, 4th) Bill Pr2, Galt Scholarship Fund Transfer Act

Document details

Collection	Alberta — Bills
Citation	L27 S4 9292
Type	bill
Volume / chapter	L27 S4 9292
Language	en
Format	json
Source	PROVINCIAL
Identifier	add5e6ec48f106191e9bfff911bcbae9037348d3

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