No. 27 2nd Session, 14th Legislature, Alberta 9 Elizabeth II BILL 27 A Bill to amend The Trust Companies Act, 1960 HON. MR. PATRICK PrInted by L. B. WALL, Printer to the Queen's Most Excellent Majesty, Eclmonton, Alberta., 1111

Explanatory Note

Section 120, subsection (4) presently reads: "

(4) Where a pvovincial company is an approved corporation for trustee investments under The Trustee Act, it may invest any of its paId-up capital in excess of the paid-up capital required for an approved corporation under The Trustee Act in such investments not authorized by this Act as may be approved by general or particular order of the LIeutenant Governor in Council, if the reserve fund and the paid-up capital required by The Trustee Act will not be prejudicially affected by that investment of the paid-up excess capital .... 3. Commencement.

BILL No. 27 of 1961

An Act to amend The Trust Companies Act, 1960 (Assented to , 1961) 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 120 is amended by striking out subsection (4) and by substituting the following:

(4) Where a provincial company is an approved cor­ poration for trustee investments under The Trustee Act it may invest (

a) any of its paid-up capital in excess of the paid-up capital required for an approved corporation, and (

b) any moneys in excess of the reserve fund required for an approved corporation, in such investments as the board of directors of the com­ pany may determine. 3. This Act comes into force on the day upon which it is assented to.

No. 27 SECOND SESSION FOURTEENTH LEGISLATURE 9 ELIZABETH II 1961 BILL

An Act to amend The Trust Companies Act, 1960 Received and read the First time. Second time ....................................... . Third time. HON. MR. PATRICK Title: 1961 (14th, 2nd) Bill 27,

An Act to amend the Trust Companies Act, 1960