1988 BILL Third Session, 21st Legislature, 37 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL

AN ACT TO AMEND THE LAW OF PROPERTY ACT MR. CHUMIR First Reading Second Reading Committee of the Whole Third Reading Royal Assent Title: 1988 (21st, 3rd) Bill 270,

An Act to Amend the Law of Property Act Bill Mr. Chumir BILL

AN ACT TO AMEND THE LAW OF PROPERTY ACT (Assented to , 1988) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1 The Law of Property Act is amended by this Act. 2 The following is added after

section 57: 5 7.1(1) The right to receive a share of minerals, or the proceeds of sale of minerals, produced from or under land is hereby declared to be and always to have been an interest in land. ( 2) Any caveat registered by the Registrar in respect of a right referred to in subsection (1), whether filed by the owner thereof or by a trustee, is hereby declared to be and always to have been filed in respect of an interest in land and, if other­ wise in proper form, to be a valid and subsisting caveat. 1 Explanatory Notes This Bill will amend

chapter L-8 of the Revised Statutes of Alberta 1980. 2 This

section will protect the rights of holders of royalty trusts and other royalty interests. 1 Title: 1988 (21st, 3rd) Bill 270,

An Act to Amend the Law of Property Act