Bill 60 — The Alberta Resources Railway Corporation Amendment Actl 1973 (No.2) (Legislature 17, Session 2)

L17 S2 5194

Alberta — Bills

Second Session, 17th Legislature, ~1 Elizabeth II THE LEGISLATIVE ASSEThIBLY OF ALBERTA BILL 60 The Alberta Resources Railway Corporation Amendment Actl 1973 (No.2) THE MINISTER OF INDUSTRY AND COMMERCE First Reading Second Reading Third Reading Printed by QUEEN'S PRINTER for the Province of Alberta, EDMONTON

Bill 60 BILL 60 1973 THE ALBERTA RESOURCES RAILWAY COPOIRATION AMENDMENT ACT, 1973 (No.2) (Assented to , 1973) HER MAJESTY, by and with the adv,ice and consent of the Legislative Assembly of Alberta, enacts as follows: 1. The Alberta Resources Railway Corporation Act is hereby wmended.

Section 4 is amended by striking out subsections (1) and (2) and by substituting the following: 4.

(1) The affairs of the Corporation shaU be oonducted by a board of directors consisting of the following members, namely, (

a) the Minister of Industry and Commerce, who shall be chairman of the Board, (

b) the Provincial Treasurer, who shall be vice-chair man of the Board, (

c) the Deputy Provincial Treasurer, and (

d) six other directors appointed by the Lieutenant Governor in Council to hold office during pleasure, one of whom may be appointed as managing director.

(2) At a meeting of the Board the vice...icJhairman shall preside in the event of the ·chairman's absence or inability to aot or in the event that the office of Minister of Industry and Commerce is vacant.

Section 5 is amended (a) (

b) as to subsection (1) by adding at the end thereof the words "or at the call of the vice-chairman in the event of the chairman's ahs'ence or inabiHty to act or in the event that the offiee of Minister of Industry and Commerce is vacant", as to subsection (2) by striking out the word "Three" and by SUbstituting the word "Six".

Explanatory Notes I. This Bill will amend

chapter 15 of the Revised Statutes of Alberta 1,9'70. 2.

Section 4 (1) and (2) presently read: 4.

(1) The affairs of the Corporation sha;ll be conducted by a board of directors consisting of the following members, namely, ,the Provincial Treasurer and four other directors appointed by the Lieutenant Gover nor in Council .to hold O'ffice during pleasure.

(2) The Lieutenant Governor .in Council shall designate one of the directors as chairman 'of the Board and may des[gnate a director tOo be the acting chairman in the absence of the chairman or in the event of the chairman's inability to' act. 3.

Section 5 (1) and (2) presently read: 5.

(1) The Board shall meet at the call of the chairman.

(2) Three directors of ,the Board constitute a quorum and the affirma tive vo,tes of a majority of .the directo,rs present at any meeting of !he Board at which a quorum ,is present are sufficient to pas's any resolutIon or by-law and to' bind all the directors.

4. Section, 11 1~S amended by adding the following after subsection (5):

(6) V{here an agreement has been entered into under subse,ction (2) then, notwithstanding subsection (5), an amending a1gre:ement Ito al-ber rental rates with respect to spe1cified goods or for a limited Ume m.ay be entered into with the ·approval of the Minister of Industry and Oommerce. 5. This Act carnes into force on the day upon which it is assented to. 2

Section 11 (2) and (5) presently read:

(2) The Corporation ~ay enter an agre.~ment with any corporation empowered to operate railways for the leasing to that other corp'oTatiQn of a railway of the Oorpo'ration or any of the CorporaUon's rights and powers under this Act, upon such terms and condiUons as may be pro vided in the agreement.

(5) No agreement shall be entered into under this

section unless it is approved by the Lieutenant Governor in Council. 2

Document details

Collection	Alberta — Bills
Citation	L17 S2 5194
Type	bill
Volume / chapter	L17 S2 5194
Language	en
Format	json
Source	PROVINCIAL
Identifier	c757c1899e32c5951981eca76c6776719a3458ab

Source file is stored in the law ingest library (json).