1990 BILL 203 Second Session, 22nd Legislature, 39 EUzabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL 203

AN ACT TO AMEND THE BUSINESS CORPORATIONS ACT MRS. BLACK First Reading Second Reading Committee of the Whole Third Reading Royal Assent

Bill 203 Mrs. Black BILL 203 1990

AN ACT TO AMEND THE BUSINESS CORPORATIONS ACT (Assented to , 1990) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as foUows: 1 The Business Corporations Act is amended by this Act. 2 The following is added after

section 96: 96.1 At any time after the appointment of a receiver manager under this Part or under

section 234, the Registrar or any official appointed by him for the purpose, may (

a) require the receiver to report to the Registrar on the receivership and to provide any accounts, records or papers respecting the receivership, or (

b) apply to the court for an order (

i) requiring the receiver to do anything which the Registrar believes to be in the best interests of the parties affected by the receivership or to refrain from doing anything which the Registrar beUeves to be against the interests of those involved in the receivership, or (ii) to have the appointment of the receiver terminated and another receiver appointed in his place, or to have the accounts of the receiver for his services as receiver reviewed by the court, (iii) and on such application the court may make such

Explanatory Notes 1 This Bill will amend

chapter B-15 of the Statutes of Alberta 1981. 2 This new

section will give an official of the Registrar of Companies the power to demand an accounting from receivers and to apply to the court to have the receivership expedited in the interests of those affected.

order as it sees fit. Title: 1990 (22nd 2nd) Bill 203,

An Act to Amend the Business Corporations Act