Bill No. 75 'Of 1948. A BILL TO AMEND THE CREDIT UNION ACT NOTE. This Bill amends The Credit Union Act. Sections and of the Act are amended to provide for the change of name of the Department from the Department of Trade and Industry to the Department of Industries and Labour.

Section is amended for the purpose of uniformity so that the p'Owers given under it correspond with

section pf The Co-op'erative Associations Act, 1946. The effect of the amendment is that it gives the Minister power to cancel the incorporation of any credit union which is being operated on an unsound basis or being mismanaged. The amendment also provides that the Minister, upon the report of the Superintendent, after attending a meeting of the members may direct the credit union to be wound-up and may appoint the Supervisor of Co-operative Activities as the liquidator. W. S. GRAY, Legislative Counsel. (This note does not form any part of the Bill but is offered in explanation of its provisions.) BILL No. 75 of 1948.

An Act to amend The Credit Union Act. (Assented to ,1948.) HIS MAJESTY, by and with the advice and consent of the Legislative Assembly '0f the Province of Alberta, enacts as foll'0ws: 1. The Credit Union Act, being

chapter 2'57 of the Re­ vised Statutes .of Alberta, 1942, is hereby amended as to

section by striking out the w'0rds "of Trade and Industry", where the same '0ccur in paragraph (

b) thereof, and by sub­ stituting therefor the words "of Industries and Labour". 2. The said Act is further amended as t'0

section by striking I'0ut the words "of Trade of Industry", where the same occur therein, and by substituting therefor the words "'0f Industries and Lab'0ur". 3. The said Act is further amended as to

section by striking out the w'0rds "The Public Service Efficiency Act", where the same '0ccur therein, and by substituting theref'0r the words "The Public Service Act, 1947." 4. The said Act is further amended as to secti'0n 57,- (

a) by adding immediately after the w'0rds "he may in his discreti'0n", where the same occur therein, the w'0rds "cancel the incorporation of the credit uni'0n, '0r may"; (

b) by adding immediately after paragraph (

b) thereof the f'0llowing: " (

c) f'0llowing the meeting submit a rep'0rt thereon to the Minister; and after receiving the rep'0rt the Minister may, if in his opini'0n it is advisable S'0 t'0 do, direct that ~he affairs of the credit union be W'0und-up and appOInt the Supervisor the liquidator f'0r that purpose.". 2. This Act shall C'0me int'0 force .on the day UP'0n which it is assented t'0. .No. 75 FIFTH SESSION TENTH LEGISLATURE GEORGE VI BILL An A'ct to amend The Credit Union Act. Recei ved and read the First time Second time . .. .............................. . Third time ..................................... . RON. MR. GERHART. EDMONTON: A. Shnitka, King's Printt"r Title: 1948 (10th, 5th) Bill 75,

An Act to amend The Credit Union Act