Bill 46 (Legislature 7, Session 4)

L7 S4 8634

Alberta — Bills

Bill No. 46 of 1934. A BILL TO AMEND THE TRUSTEE ACT. NOTE. By 'this Bill the Official Guardian and the Administrator of Estates of the Mentally Incompetent is authorized to invest in a common fund moneys in his hands for invest ment which are not subject to an express trust or direction as to their investment. R. ANDREW SMITH, Legislative Counsel. (This note does not form any part of the Bill and is off·ered merely as a partial explanation of some of its provisions.) BILL No. 46 of 1934.

An Act to amend The Trustee Act. (Assented to , 1934.) HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: ~. This Act may be cited as "The Trustee Act Amendment Act, 1934." 2. The Trustee Act, being

chapter of the Revised Statutes of Alberta, 1922, is hereby amended by adding at the end thereof the following new section: "56.-

(1) With the approval of the Lieutenant Governor in Council any moneys for the time being in the hands of the Official Guardian and the Administrator of Estates of the Mentally Incompetent, not being money which is subject to any express trust or direction for the investment thereof, may be invested in a common fund or in anyone of several common funds, and the investments so made shall not be made on account of or belong to any particular estate, and the interest of any person entitled to any share or interest in a common fund shall be in common with all other persons so entifled. "

(2) The Lieutenant Governor in Council may from time to time make rules and regulations for the management of any common fund and may prescribe the fees which may be charged against the fund and the persons entitled thereto for the management thereof." 3. This Act shall come into force on the day upon which it is assented to. No. 46. FOURTH SESSION SEVENTH LEGISLATURE GEORGE V BILL

An Act to amend The Trustee Act. Received and read the First time ......................................................... . Second time ..................................................... . Third time ................................................... . HON. MR. LYMBURN EDMONTON: W. D. MCLEAN. KING'S PRINTER Title: 1934 (7th, 4th) Bill 46,

An Act to amend The Trustee Act

Document details

Collection	Alberta — Bills
Citation	L7 S4 8634
Type	bill
Volume / chapter	L7 S4 8634
Language	en
Format	json
Source	PROVINCIAL
Identifier	ceb2b15f04716de59e79ac89d36dbe16baf0bffd

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