Bill 58 (Legislature 7, Session 2)

L7 S2 8797

Alberta — Bills

Bill No. 58 of 1932. A BILL TO PROVIDE FOR THE LIQUIDATION OF THE PENSION FUND OF THE ALBERTA PROVINCIAL POLICE. NOTE. This Bill provides for the distribution of the surplus of the Pension Fund of the Alberta Provincial Police Force after providing for all claims against the fund in existence immediately before the first day of April, 1932.

The surplus is vested in a Commission consisting of a Judge of the Su preme Court and two other persons to be appointed by the Lieutenant Governor in Council, and that Commission is charged with the duty of distributing the surplus amongst those persons who are under engagement as members or special employees of the Alberta Provincial Police Force as at the time of its disbandment.

The distribution is to be made in such manner as the Commission may think fit and having regard to the circum stances of each case .and to the extent to which any such member or employee has been detrimentally affected by the disbandment of the Force. R. ANDREW SMITH, Legislative Counsel. (This note does not form any part of the Bill and is offered merely as n lJCL/'tial e:~plallation of sonw of its lJTovisions.) BILL No. 58 of 1932.

An Act to provide for the Liquidation of the Pension Fund of the Alberta Provincial Police. (Assented to ,1932.) HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta. enacts as follows: :to This Act may be cited as "The Albertc& Provincial Police P.ension Fund Liquidation Act." 2.

The Lieutenant Governor in Council may appoint a Commission consisting of three persons, of whom one shall be a Judge of the Supreme Court and the Chairman of the Commisso in, who shall hold office during pleasure, and shall receive such remuneration as may be pI'Q,;cribed from time to time by the Lieutenant Governor in Council. 3.

The Commission is hereby charged with the duty of distributing amongst the persons under engagement im mediately before the first day of April, 1932, as members of the Alberta Provincial Police Force or as special em ployees for the purposes of the force, any surplus moneys of the Pension Fund established pursuant to The P.olice Pen sion Act, 1921, which shall remain after provision has been made for the satisfaction of all claims against the said fund, pursuant to the said Act, which were existing immediately before the first day of April, 1932, and all such surplus moneys and the investments representing the same shall be vested in the said Coinmission. 4.

The Commission sh'all not be bound by any of the pro visions of The Police Pension Act which purport to limit or define the interest of any member or ex-member of the Al berta Provincial Police Force in the said fund. 5.

The Commission shall distribute the said surplus amongst the persons who were under engagement as mem bers or special employees of the Alberta Provincial Police Force immediately before the first day of April, 1932, in such manner as the Commission shall deem fair and equit able and with a view to relieving against any case of hard ship having regard to the circumstances of each case and the extent to which any such person has been detrimentally affected by the disbandment of the Alberta Provincial Police Force. 2 6.

The Commission shall keep a record of all its trans actions and an account of all its receipts and expenditures, and deal with all moneys and investments by this Act vested in the Commission in such manner and form as may be from time to time prescribed by the Treasury Board, and shall, whenever required so to do, produce all its records, accounts and vouchers tOI the Provincial Auditor. 7. The Commission may prescribe regulations not incon sistent with this Act for the transaction of its business. 8.

The chairman shall be the executive officer of the Com mission. 9. lVIeetings of the Commission shall be held at the call of the chairman, and at such other times as may be re quired by the two other commissioners, and at least twenty four hours' notice shall be given of all such meetings. 10. Any two commissioners shall constitute a quorum. 11.-

(1) All the moneys vested in the Commission pur suant to this Act shall be kept on deposit with a chartered bank and all disbursements thereof shall be by cheque signed by the chairman and countersigned by the Provincial Auditor.

(2) Any bonds, debentures, debenture stocks and other securities vested in the Commission pursuant to this Act shall be disposed of only upon the written authority of the chairman and one other commissioner. No. 58, SECOND SESSION SEVENTH LEGISLATURE 22 GEORGE V 1932 BILL

An Act to provide for the Liquidation of the Pension Fund of the Alberta Provincial Police. Received and read the First time .................... . Second time ................... . Third time .................. , .. HON. MR. LYMBURN. EDMONTON: W. D. McLEAN, KING'S PRINTER 1932 Title: 1932 (7th, 2nd) Bill 58,

An Act to provide for the Liquidation of the Pension Fund of the Alberta Provincial Police

Document details

Collection	Alberta — Bills
Citation	L7 S2 8797
Type	bill
Volume / chapter	L7 S2 8797
Language	en
Format	json
Source	PROVINCIAL
Identifier	b0013324656ff9721c946a7a5e12ca67db46a31b

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