BILL No. 39 of 1927.

An Act to amend The Bills of Sale Act. (Assented to , 1927.) HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta. enacts as follows: . 1. This Act may be cited as "The Bills of Sale Act Amendment Act, 1927." 2. The Bills of Sale Act, being

chapter of the Revised Statutes of Alberta, 1922, is amended as to

section there­ of, by adding as subsection (4) thereof the following: " ( 4) Where a document has been executed by a corpora­ tion under the provisions of this Act. no affidavit of execu­ tion shall be required to accompany such document for the purpose of registration." 3.

Section of the said Act is hereby struck out. 4.

Section of the said Act is amended by striking out subsection (2) thereof. 5.

Section of the said Act is amended- (

a) as to subsection (1) by striking out the words in brackets" (hereinafter collectively called 'necessar­ ies')" and inserting in lieu thereof the words "(which commodities and borrowings are herein­ after collectively called 'necessaries')"; (

b) by adding as subsection (7a) immediately after subsection (7), the following: "(7a) Where it is arranged between the mortgagor and mortgagee, that necessaries are to be supplied from time to tirne, then security may be given at the time of such arrange­ ment for any sum of money, which is otherwise permissible under the provisions of this Act, notwithstanding that some or all of the necessaries are to be supplied in future: "Provided, however, that no such security shall be valid for a greater sum of money than the price of the necessaries actually supplied or the money actually borrowed within one year from the date of its execution.

Any such security shall be subject to the provisions of

section of this Act, as if it were an agreement in writing for future advances within the meaning of that section." 2 6.

Section of the said Act is hereby struck out and the following substituted therefor: "22. If any mortgagee, bargainee or assignee be a cor­ poration, the affidavit of bona fides required by sections 6, 8, 9 and 10, and the affidavit required by

section of this Act, may be made by any employee of the corporation, and such affidavits shall state that the deponent is aware of the circumstances, has a personal knowledge of the facts de­ poned to, and is duly authorized to make such affidavits." 7.

Section of the said Act is amended- (

a) by inserting after the word "registered" the words "and of all renewals thereof"; (

b) by adding as subsection (2) thereof, the following: "

(2) All subsequent renewals of any such mortgage shall be filed in the office of the said registration clerk, and the period of two years mentioned in

section 18, an.d of one year mentioned in

Section shall be reckoned from the date of the filing of such certified copy." 8. This Act shall come into force on .................. . No. 39. FIRST SESSION SIXTH LEGISLATURE GEORGE V BILL

An Act to amend The Bills of Sale Act. Received and read the First time ................... . Second time .................. . Third time ................... . HON. MR. LYMBURN EDMONTON: W. D. MeLEc.N. ACTING KING'S PIUNTER A.D. 1927 Title: 1927 (6th, 1st) Bill 39,

An Act to amend The Bills of Sale Act