1982 BILL 232 Fourth Session, 19th Legislature, 31 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL 232

AN ACT TO AMEND THE ALBERTA HERITAGE SAVINGS TRUST FUND ACT (No.3) MR. R. SPEAKER First Reading ................................................................ . Second Reading ............................................................ . Committee of the Whole .................................................. . Third Reading ............................................................... . Royal Assent ................................................................ .

Bill 232 Mr. R. Speaker BILL 232 1982

AN ACT TO AMEND THE ALBERTA HERITAGE SAVINGS TRUST FUND ACT (No.3) (Assented to , 1982) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1 The Alberta Heritage Savings Trust Fund Act is amended by this Act. 2

Section 6 is amended (

a) in subsection (3) by repealing clauses (

a) and (

b) and substituting (

a) shall be made only pursuant to

an Act appropriating money to the purpose of the loan, (

b) may only be varied as to the loan terms pursuant to a resolution of the Legislative Assembly, (

b) in subsection (4) by repealing clauses (

a) and (

b) and sub­ stituting (

a) shall be made only pursuant to

an Act appropriating money to the purpose of the investment, (

b) may be disposed of only pursuant to a resolution of the Legislative Assembly, (

c) in subsection (5) by repealing clauses (

a) and (

b) and substituting 1

Explanatory Notes 1 This Bill will amend

chapter A-27 of the Revised Statutes of Alberta 1980. 2(a)

Section 6(3)(

a) and (

b) presently read 6(3) Investments referred to in subsection (1)(b) (

a) shall be made or approved by the Investment Committee in accordance with the directions contained in a resolution of the Legislative Assembly, (

b) in the absence of any such directions, shall be made only with the approval of the Investment Committee, (b)

Section 6(4)(

a) and (

b) presently read

(4) Investments referred to in subsection (1)( c) (

a) shall be made or approved by the Investment Committee in accordance with the directions contained in a resolution of the Legislative Assembly, (

b) in the absence of any such directions, shall be made with the approval of the Investment Committee, and (c)

Section 6(5)(

a) and (

b) presently read

(5) Investments referred to in subsection (1)( d) 1

(

a) shall be made only pursuant to

an Act appropriating money to the purpose of the investment, (

b) may be disposed of only pursuant to a resolution of the Legislative Assembly, and (

d) in subsection (6) by repealing clauses (a), (

b) and (

c) and substituting (

a) shall be made only pursuant to

an Act appropriating money to the purpose of the investment, (

b) may be disposed of only pursuant to a resolution of the Legislative Assembly. 3 Sections 8 and 9 are repealed. In accordance with

section 4( 1) of the

Interpretation Act. this Bill comes into force on the date it receives Royal Assent.

(

a) shall be made or approved in accordance with the directions contained in a resolution of the Legislative Assembly, (

b) in the absence of any such directions, shall be made with the approval of the Investment Committee, and (d)

Section 6(6)(a), (

b) and (

c) presently read

(6) Investments referred to in subsection (1)( e) (

a) shall be made or approved by the Investment Committee in accordance with the directions contained in a resolution of the Legislative Assembly, (

b) in the absence of any such directions, shall be made with the approval of the Investment Committee, and (

c) may be made, reinvested and disposed of by the Provincial Treasurer, if authorized to do so by the Investment Committee. 3 Sections 8 and 9 presently read 8(

I) When an investment is made under

section 6 with the approval of the Investment Committee, no disposition shall be made of that invest­ ment except with the approval of the Investment Committee.

(2) When a resolution of the Legislative Assembly directs the making of an investment pursuant to

section 6, no disposition shall be made of that investment except pursuant to a resolution of the Legislative Assembly.

(3) When a resolution of the Legislative Assembly directs the disposition of an investment then, notwithstanding subsection (I), the investment shall be disposed of in accordance with the directions contained in a resolution of the Legislative Assembly. 9 An approval given by the Investment Committee under

section 6 or 8 may be made subject to any terms and conditions the Committee considers necessary. 2 Title: 1982 (19th, 4th) Bill 232,

An Act to Amend the Alberta Heritage Savings Trust Fund Act (No. 3)