Bill 83 (Legislature 14, Session 4)

L14 S4 1915

Alberta — Bills

No. 83 4th Session, 14th Legislature, Alberta 10 Elizabeth II BILL 83 A Bill to amend The Trust Companies Act, 1960 HON. MR. PATRICK PrInted by L. S, WALL, PrInter to the Queen's Most Excellent )laJesty, Edmonton, Alberta, 1963

Explanatory Note

Section 3, subsection (3) presently reads: "

(3) With respe<!t to every provincia<l company f.ormed or incorporated before the commencement of this Act, the provisions of this Act supersede and prevail over any prov~sion of its memorandum and articles of association, if any, and any provisions of its special Act or other Act of the Legislature, or ordinance of the Nort1;lwest Territories, under which or pursuant to which it was incorporated, that is inconsistent or in confllict with this Act.".

Section 14, subsection (3) presently reads: "

(3) This

section applies to every trust company incorporated at any time within the two years immediately preceding the commence ment of this Act and not registered under The Trust Companies Act and to every trust company incorporated after tl}e commencement of this Act.". 4. Authority for a company to issue different classes of shares is set out in the Act.

Section 19 provides that each share must have an equal vote with every other share and

section 111 pro hibits the issue of shares subject to redemption or purchase for cancellation.

Section 104, subsection (4) reads: "

(4) The Registrar shall issue under his hand and seal of office to every registered company a certificate of registry, setting forth that the company is entitled to registry as a trust company under th1s Act, and that the company is accordingly registered.". 6. Commencement of Act.

BILL No. 83 of 1962

An Act to amend The Trust Companies Act, 1960 (Assented to , 1962) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. The Trust Companies Act, 1960, being

chapter 110 of the Statutes of Alberta, 1960, is hereby amended.

Section 3, subsection (3) is amended by adding im mediately after the words "provisions of this Act" the words and figures ", except sections 6 to 12,".

Section 14 is amended by striking out subsection (3) and by substituting the following:

(3) This

section applies to every trust company incor porated prior to the commencement of this Act and not registered under The Trust C01npanies Act, being

chapter 345 of the Revised Statutes, but entitled to registration under this Act and to every trust company incorporated after the commencement of this Act. 4. The following new

section is added immediately after

section 45: 45a. A company may, subject to sections 19 and 111, issue shares of one or more classes.

Section 104 is amended by adding the following new subsection:

(5) The Registrar's certificate is admissible in evidence as conclusive proof of all matters therein certified or declared, and of the due performance of all matters pre cedent or preliminary to the granting thereof. G. This Act comes into force on the day upon which it is assented to.

No. 83 FOURTH SESSION fOURTEENTH l:EGISLATURE 10 ELIZABETH II 1962 BILL

An Act to amend The Trust Companies Act, 1960 Received and read the First time ......................................... . Second time ...................... . Third time .................... . HON. MR. PATRICK Title: 1962 (14th, 4th) Bill 83,

An Act to amend The Trust Companies Act, 1960

Document details

Collection	Alberta — Bills
Citation	L14 S4 1915
Type	bill
Volume / chapter	L14 S4 1915
Language	en
Format	json
Source	PROVINCIAL
Identifier	b1a9888c688e851e4a2ca7c407b690ed8d139c93

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