Bill No. 70 of A BILL TO AMEND THE SEISMOGRAPHIC RECORDING AND DRILLING EQUIPMENT LICENSING ACT NOTE This Bill amends The Seismographic Recording and Drilling Equiprnent Licensing Act which was enacted by

chapter of the Statutes of Alberta, 1953 and brought into force by proclamation.

Section which provides the formula for computing the licence fee for the equipment to which the Act relates is amended.

The purpose of the amendment is to provide a means of allowing for depreciation and to permit a lower percentage to be fixed for the license fee, that is, four per cent on three tenths of the sum determined after deprecia­ tion is allowed rather than five per cent of the amount deter­ mined by adjusting the invoice value on the basis of index figures of the Dominion Bureau of Statistics. ,This Bill comes into force on assent and is retroactive to January 1st, 1954, the commencement of the licensing year. J. W.

RYAN, Acting Legislative Counsel. (This note does not form any part of the Bill but is offered in explanation of its provisions.) BILL No. 70 of

An Act to amend The Seismographic Recording and Drilling Equipment Licensing Act (Assented to , 19.'54) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. The Seismographic Recording and Drilling Equip­ ment Licensing Act, being

chapter of the Statutes of Alberta, 1953, is hereby amended.

Section 2, clause (

e) is amended by adding immedi-

Section ately .after the word "means" the woOrds "a town, a village,". amended 3.

Section is amended, (

a) as toO subsection (1) by striking out clauses (

a) to (

c) and by substituting the following: "(

a) by determining the sale price at which a new unit of similar specifications is quoted at cur­ rent market prices, " (

b) by reducing the amount determined pursuant to clause (

a) by the amount of such depreci­ a tioOn as the Minister deems proper, " (

c) by calculating three tenths of the net amount as determined pursuant to clause (b), and "(

d) by computing four per cent of the amoOunt calculated pursuant to clause (c).", (

b) as to subsection (2) by striking out the letter " (c)" and by substituting therefor the letter" (d) ".

Section fl amended 4. This Act comes into force on the day upon which it Coming into is assented to and upon soo coming into force shall be deemed force to have been in force at all times on and after the first day of January, 1954. No. 70 SECOND SESSION TWELFTH LEGISLATURE ELIZABETH II BILL

An Act to amend The Seismographic Recording and Drilling Equipment Licensing Act Recei ved and read the First time .................... . Second time ......... . Third time HON. MR. GERHART Title: 1954 (12th, 2nd) Bill 70,

An Act to amend The Seismographic Recording and Drilling Equipment Licensing Act