Bill 32 — An Act To Amend the Rural Electrification Long Term Financing Act (Legislature 16, Session 1)

L16 S1 4483

Alberta — Bills

19tH BIli ~! First Session, 16th Leg~Iatu11'ro PJ Elititbeth II 1 •. 3iIi: f }] , 7l .. , THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL

An Act to amend The Rural Electrification Long Term Financing Act THE MINISTER OF INDUSTRY AND DEVELOPMENT First Reading ............................................................. . Second Reading ......................................................... . Third Reading ........................................................... . Printed by L. S. Wall, Queen's Printer, Edmonton BILL

An Act to amend The Rural Electrification Long Term Financing Act (Assented to ,1968) HER MAJEST,Y, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. The Rural Electrification Long Term Financing Act is hereby amended. 2.

Section is amended by striking out subsection (5) and by substituting the following:

(5) Notwithstanding anything in any other Act, a lien filed pursuant to this Act in respect of land or an interest in land continues to be an encumbrance against that land registered in the name of a subsequent owner until the total indebtedness, including interest, in respect of which the lien was registered, has been repaid in full. 3. This Act comes into force on the day upon which it is assented to. Explanatory Notes I. This Bill amends

chapter of the Statutes of Alberta, 1956.

Section 16, subsection (5) presently reads:

(5) Notwithstanding the provisions of The Tax Re<:overy Act, a lien filed in respect of land or an interest in land under this Act continues to be an encumbrance against that land registered in the name of a subsequent owned or IOlWners to the same extent as if proceedings had not been taken under The Tax Recovery Act. This amendment makes it dear that land encumbered pursuant to this Act remains so even in the hands of subsequent owners, until the debt is discharged. Title: 1968 (16th, 1st) Bill 32,

An Act to amend The Rural Electrification Long Term Financing Act

Document details

Collection	Alberta — Bills
Citation	L16 S1 4483
Type	bill
Volume / chapter	L16 S1 4483
Language	en
Format	json
Source	PROVINCIAL
Identifier	cf5cc31a0ada6a5d2b2972807330fd3b869bcbde

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