Bill 1 (Legislature 14, Session 1)

L14 S1 5891

Alberta — Bills

No.1 1st Session, 14th Legislature, Alberta 8 Elizabeth II BILL 1 A Bill to amend The Alberta Wheat Pool Act, 1929 MR. SAYERS Printed by L. S. WALL, Printer to the Queen's Most Excellent Ma.je8ty. J!ldmonton. Alberta.. lU60

Explanatory Note

Section 42 presently reads as follows: "42. Notwithstanding the provisions of this Act and of the Marketing Agreements, the Directors of the Pool may, when authorized by resolution of the delegates (

a) cancel or write off the whole or any part of the commercial and elevator reserves or either of them purchased pursuant to

section 40 hereof; (

b) sell to applicants for membership under seotion 6 hereof the minimum interest from time to time required under

section 6 (

d) and reissue to patrons who are members the whole or any part of the elevator and commercial reserves or either of them pur chased pursuant to

section 40 hereof that have not been can celled under the next preceding

section hereof; (

c) refund a portion of the earnings made by the operation of the faoilities of the Pool in any year in cash or its equivalent or in elevator and commercial reserves or either of them purchased under

section 40 and not cancelled under

section 42 (

a) hereof, or partly in cash or its equivalent and partly in the said reserves or either of them, to patrons who are members under date to be fixed by resolution of the directors before such distribution. Such refund shall be made on a basis of the bushels or pounds, as the case may be, contributed by the respective patrons to the handling facilities of the Pool in any fiscal year or years preceding such distribution in a manner to be determined by the directors, who may take into account in fixing the amounts to be dis tributed the earnings made by any particular kind of grain or seed and the extent of the use of Pool facilities made by any member."

BILL No.1 of 1960

An Act to amend The Alberta Wheat Pool Act, 1929 (Assented to , 1960) HER 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 Alberta Wheat Pool Act, 1929, Amendment Act 1960". 2. The Alberta Wheat Pool Act, 1929, being

Chapter

Section 42 73 of the Statutes of Alberta, 1929, is hereby amended as amended follows: By striking out

section 42 and substituting there- for the following: (42.

(1) Notwithstanding the provisions of this Act and ~owers of of the Marketing Agreements, the Directors of the Pool irectors may, when authorized by resolution of the delegates: (

a) cancel or write off the whole or any part of the commercial and elevator reserves or either of them purchased pursuant to

section 40 of this Act; (

b) sell to applicants for membership under

section 6 of this Act the minimum interest from time to time required under paragraph (

d) of

section 6 of this Act and re-issue to patrons who are members the whole or any part of the elevator and com mercial reserves of either of them purchased pur suant to

section 40 of this Act that have not been cancelled under paragraph (

a) of this subsection; (

c) refund a portion of the earnings made by the oper ation of the facilities of the Pool in any year to patrons who are members on a date to be fixed by resolution of the Directors before distribution of any such refund; (

d) make allocations in proportion to patronage to customers who are members on a date to be fixed by resolution of the Directors prior to allocation, who purchased in any year fertilizers and other com modities or any of them handled by the Pool.

(2) Refunds and allocations in proportion to patronage which may be made under paragraphs (0) and (

d) of sub section (1) hereof may be made in cash or its equivalent or in elevator and commercial reserves or either of them purchased under

section 40 of this Act and not cancelled

2 under paragraph (

a) of subsection (1) hereof, or partly in cash or its equivalent and partly in the said reserves or either of them.

(3) Any refunds of earnings made under the provisions of paragraph (

c) of subsection (1) hereof and any allo cations in proportion to patronage made under paragraph (

d) of subsection (1) hereof shall be made, in the case of grain and seed, on the basis of the contribution of grain or seed made by the respective patrons to the facilities of the Pool and, in the case of fertilizers or other commodities sold by the Pool, on the basis of the amount or amounts thereof purchased from the Pool, in any fiscal year or years preceding such refund or allocation in a manner to be determined by the Directors, who may take into account in fixing the amounts to be distributed or allocated: (

a) in the case of grain the volume of grain delivered; (

b) in the case of seed either the volume or the dollar value of the amount delivered; (

c) in the case of fertilizers or other commodities sold by the Pool, the dollar value of the amounts purchased; (

d) in all cases, the earnings made by any particular grain, seed or commodity; (

e) the extent of the use of the Pool facilities by any member.) 3. This Act comes into force on the day upon which 90ming it is assented to and upon so coming into force shall be mto force deemed to have been in force at all times on and after the first day of January, 1960.

FIRST SESSION FOURTEENTH LEGISLATURE 8 ELIZABETH II 1960 BILL

An Act to amend The Alberta Wheat Pool Act, 1929 Received and read the First time ......................................... . Second time ....... . Third time ......................................... . MR. SAYERS Title: 1960 (14th, 1st) Bill 1,

An Act to amend The Alberta Wheat Pool Act, 1929

Document details

Collection	Alberta — Bills
Citation	L14 S1 5891
Type	bill
Volume / chapter	L14 S1 5891
Language	en
Format	json
Source	PROVINCIAL
Identifier	db30cdd9c163aa1eadc9be81b88034b8b2c11653

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