Bill 220 — Fourth Session, 18Th Legislature, 18I1Iutieth Hi the Legislative Assembuy of Alberta Bill 220 An Act To Amend the Alberta Heritage Savings Trust Fund Act (Legislature 18, Session 4)

L18 S4 4405

Alberta — Bills

1978 BILL 220 Fourth Session, 18th Legislature, 18I1iUtieth HI THE LEGISLATIVE ASSEMBUY OF ALBERTA BILL 220

AN ACT TO AMEND THE ALBERTA HERITAGE SAVINGS TRUST FUND ACT MR. CLARK First Reading _______________________________________ _ Second Reading ______________________________________ _ Committee of the Whole ________________________________ _ Third Reading _______________________________________ _ Royal Assent _________ . ___ . ____________________________ _ Printed by the Queen's Printer for the Province of Alberta, EDMONTON

Bill 220 Mr. Clark BILL 220 1978

AN ACT TO AMEND THE ALBERTA HERITAGE SAVINGS TRUST FUND ACT (Assented to , 1978) HER ,MAJESTY, by and with the ,adwce 'and Icons'ent of the Legislative Assembly of Alberta, -enacts -as follows: 1. The Alberta Heritage Savings Trust Fund Act is amended by this Act.

Section 1 (

a) is repealed.

Section 3 is repealed. 4.

Section 4(2), (3) and (4) are repealed.

Section 6 is amended (

a) in subsection (1) (

c) by striking out in the opinion of the Investment Committee or, (

b) by repealing subsection (3) and substituting:

(3) Investments referred to in subsection (1) (b) (

a) shall be made by the Provincial Treasurer in com pliance with the directions contained in any resolu tion of the Legislative Assembly, (

b) shall not exceed 15 % of the assets of the Trust Fund, and (

c) shall form the Canada ,Investment Division of the Trust Fund. and (

c) by repealing subsection (4) and substituting: ( 4) Investments referred to in subsection (1) (c) (

a) shall be made by the Provincial Treasurer in com pliance with the directions contained in any resolu tion of the Legis'1ative Assembly, 'and

Explanatory Notes 1. This Bill will amend

chapter 2 of the Statutes of Alberta, 1976. 2. Amends s. 1. 3. Repeals s. 3. 4. Repeals s. 4 (2), (3) and (4). 5. Amends s. 5.

(

h) shallf'Orm the Alberta Investment Division of the Fund.

Section 7 is repealed and the following is substituted: 7. Where any investment is made under

section 6 no dispositi'On shall be made of that investment except pur suant to a resolution of the Legi'slative Assembly.

Section 8 is repealed.

Section 13 is amended (

a) by adding the following at the end of subsection (1): of which 10 shall be selected from amongst those mem bers who are not members of the Executive Council, and which shall include at least 2 members nominated by the Lea:der 'Of the Opposition, and shall be chaired by a member who shall be nominated by the Leader of ,the Opposition. (

b) by adding the following after subsection (5): ( 6) All proceedings of ,the Select Standing Committee 'On the Mberta Heritage Savings Trust Fund Act shall be open to the public, and notice thereof shall be given by ,causing rto be inserted in at least two newspapers, circu lating throughout the Province, ra notice specifying the date, time and place of each meeting, to be published at least seven days prior to the meeting. 9. This Act comes into force on the day upon which it is assented to. 2

6. Replaces s. 7. 7. Repeals s. 8. 8. Amends s. 13. 2 Title: 1978 (18th, 4th) Bill 220,

An Act to Amend the Alberta Heritage Savings Trust Fund Act

Document details

Collection	Alberta — Bills
Citation	L18 S4 4405
Type	bill
Volume / chapter	L18 S4 4405
Language	en
Format	json
Source	PROVINCIAL
Identifier	ea08295f980fe3f1f5b73d3fd0d0ad23a6d40218

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