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CHAPTER 32

An Act to amend The Trustee Act.

[Assented to February 9, 1922.]

IS Majesty, by and with the advice and consent of

as follows:

1. The Trustee Act is amended by inserting after Rev. Stat. c. 75 section 63 the following:

New section

63а

creditors to

"63a. Where a trustee or assignee acting under the Notice to trusts of a deed or assignment for the benefit of a par- send in claims ticular class or classes of creditors where the creditors are not designated by name therein or an executor or an administrator has given such or the like notices as in the opinion of the court in which such trustee, assignee, executor or administrator is sought to be charged, would have been given by the Court of King's Bench in an action for the execution of the trusts of such deed or assignment or an administration suit, as the case may be, for creditors and others to send in to such trustee, assignee, executor or administrator their claims against the person for the benefit of the creditors of whom such deed or assignment is made or the estate of the testator or intestate, as the case may be, the trustee, assignee, executor or administrator shall at the expiration of the time named in the said notices or the last of the said notices for sending in such claims be at liberty to distribute the proceeds of the trust estate or the assets of the testator or intestate, as the case may be, or any part thereof amongst the parties entitled thereto having regard to the claims of which the trustee, assignee, executor or administrator has then notice and shall not be liable for the proceeds of the trust estate or assets, as the case may be, or any part thereof so distributed to any person of whose claim the trustee, assignee, executor or administrator had not notice at the time of the distribution thereof or a part thereof, as the case may be; but nothing in this Act contained shall prejudice the right of any creditor or claimant to follow the proceeds of the trust estate or assets, as the case may be, or any part thereof into the hands of the person or persons who may have received the same respectively."

2. The said section 63a shall be deemed to have been in Retrospective force on, from and after the tenth day of November, 1920.

Rev. Stat. c. 76

Section 3 amended

"Company"

"Dominion company"

"Extra

provincial company"

"Provincia! company"

Section 5 amended

HIS

CHAPTER 33

An Act to amend The Companies Act.

[Assented to February 9, 1922.]

IS Majesty, by and with the advice and consent of the
Legislative Assembly of Saskatchewan, enacts as

follows:

1. The Companies Act is amended in the manner hereinafter set forth.

2.-(1) Paragraph 3 of section 3 is repealed and the following substituted therefor:

"3. 'Company' means, in Parts I, III and IV, a company incorporated by or under the authority of an Act of the Legislature of Saskatchewan; in Part II it means any company, howsoever or wheresoever incorporated; but it does not in any part include a mutual insurance company unless expressly mentioned.”

(2) The said section 3 is further amended by inserting after paragraph 4 the following:

"4a. "Dominion company' means a company incorporated by or under the authority of an Act of the Parliament of Canada."

(3) Paragraph 5 of the said section is repealed and the following substituted therefor:

"5. 'Extraprovincial company' means a company incorporated otherwise than by or under the authority of an Act of the Legislature of Saskatchewan."

(4) The said section 3 is further amended by inserting after paragraph 7 the following:

"7a. 'Provincial company' means a company incorporated by or under the authority of an Act of the Legislature of Saskatchewan."

3. Section 5 is amended by inserting at the beginning of the first line the words "Subject to the provisions hereinafter contained" and by changing the word "or" in the third line to "and."

amended

4. Subsection (3) of section 10 is repealed and the Section 10 following substituted therefor:

"(3) Upon the change of name of a company the registrar shall issue a certificate to that effect, enter the new name in the register in place of the former name, and publish a notice. of the change in The Saskatchewan Gazette."

amended

5. Subsection (1) of section 20 is amended by adding Section 20 after the word "limited" in the third line the words "Provided that the registrar may refer the matter to the Lieutenant Governor in Council who may refuse incorporation at his discretion, and in case of refusal the company shall not be incorporated."

amended

6.-(1) Subsection (2) of section 24 is amended by Section 24 altering "section 23" in the fifth and sixth lines to "subsection (1).”

(2) The following is inserted after subsection (2): "(2a) An extraprovincial company which makes default. in filing with the registrar any document required to be filed under subsection (1) shall be liable, on summary conviction, to a fine not exceeding $20 for every day during which the default continues."

amended

7.-(1) Subsection (1) of section 25 is repealed and the Section 25 following substituted therefor:

"(1) Every company, whether incorporated under the provisions of this Act or otherwise, having gain for its object or part of its object and carrying on business in Saskatchewan, shall be registered under this Act, provincial companies forthwith upon incorporation and extraprovincial companies within thirty days after commencing business in the province."

(2) Subsection (2) of section 25 is repealed and the following substituted therefor:

"(2) Any company carrying on business in Saskatchewan which fails to become registered in accordance with the provisions of this Act shall be guilty of an offence and liable, on summary conviction, to a penalty not exceeding $20 for every day during which the default continues, and proof of compliance with this section shall be at all times upon the accused."

amended

8. (1) Subsection (2) of section 26 is amended by Section 26 striking out the words "(other than those incorporated by or under the authority of the Parliament of Canada) or proposed companies" in the first, second and third lines and substituting therefor the words "other than Dominion companies," and by striking out the words "or proposed company" in the last line.

Section 27 amended

New section 30

New sections 33a and 336 Application of sections 31, 32 and 33

(2) Subsection (3) of the said section is amended by striking out the words "other than one incorporated by or under the authority of the Parliament of Canada" in the second and third lines and substituting the words "other than a Dominion company."

9.-(1) Subsection (6) of section 27 is repealed and the following substituted therefor:

"(6) Application for registration or for registration and license may be made by an extraprovincial company in form B."

(2) Section 27 is further amended by adding thereto the following subsections:

"(7) The first five subsections of this section shall not apply to a Dominion company but every such company carrying on business in Saskatchewan shall, not later than the first day of January in each year, file with the registrar a statement in writing (form E) signed by the president, vice president, secretary or manager of the company, certifying that the company is so carrying on business, accompanied by a fee of $5, and the registrar shall thereupon issue to a company a certificate of renewal of registration (form F.)

"(8) Any Dominion company carrying on business in Saskatchewan which fails to comply with the provisions of subsection (7) shall be liable to a penalty of $20 for every day during which the default continues."

10. Section 30 is repealed and the following substituted therefor:

"30.-(1) The Lieutenant Governor in Council may make regulations for the registration of provincial companies and may fix the fees payable and other payments to be made by all companies under this Act:

"Provided that the fees payable by extraprovincial companies upon registration or otherwise shall not exceed those payable by provincial companies.

"(2) Where an extraprovincial company having a nominal capital exceeding $2,000,000 proves to the satisfaction of the registrar that it is actually carrying on an established business beyond Saskatchewan in which at least fifty per cent. of its subscribed capital is invested, the fee payable on registration shall not execed $540.

"(3) All regulations under this Act shall be published in The Saskatchewan Gazette."

11. The following sections are inserted after section 33: "33a. Sections 31, 32 and 33 shall not apply to Dominion companies.

struck off

business

"336. Any company, whose name has been removed from Company the register and which while unregistered carries on business carrying on in Saskatchewan, and any company, firm, broker or other person carrying on business as a representative or on behalf of such unregistered company, shall be liable, on summary conviction, to a penalty not exceeding $50 for every day on which such business is carried on, and proof that the company is registered shall be at all times upon the accused."

amended

12. Form B in the second schedule is amended by striking Form B out all that portion of the form following paragraph (1) and substituting the following:

"(2) The company is desirous of obtaining registration (and license) under and pursuant to the provisions of The Companies Act;

"(3) Your petitioner therefore prays that it may be duly registered (and licensed) under the authority of the said Act.

"And your petitioner will ever pray.

"Dated at

19 .

this

day of

"Note. Where the petitioner is a Dominion company, omit the words in brackets."

13. Form C in the second schedule is amended by striking Form C out paragraph (4) and substituting the following:

"(4) That hereto attached and marked 'C' is a statement containing the particulars required to be given in the annual statement under the provisions of section 37 of The Companies Act;"

amended

14. The second schedule is further amended by adding New forms thereto the following forms:

"FORM E.

E and F

"(Section 27 (7))

"Canada:

Province of Saskatchewan.

"To the Registrar of Joint Stock Companies, Regina, Sask.:

[blocks in formation]

Company, Limited,

do hereby certify that the said company is still in existence and carrying on business in Saskatchewan.

"Dated at

19 .

this

(Signature).

day of

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