Rev. Stat. c. 76.

Section 52 amended

New section 76a

Power of executor, etc., to vote

1927

CHAPTER 18

An Act to amend The Companies Act.

[Assented to March 3, 1927.]

HIS 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. Clause (e) of subsection (1) and subsection (4) of section 52 are repealed.

3. The following section is inserted after section 76:

“76a.—(1) An executor, administrator, guardian, trustee or committee of a lunatic, and where a corporation is such executor, administrator, guardian, trustee or committee, of a testator, intestate, infant, cestui que trust or lunatic, any officer or employee of such corporation or any shareholder of the company duly appointed a proxy for such corporation, shall represent the shares in his hands at all meetings of the company and may vote accordingly as a shareholder, and every person who mortgages or hypothecates his shares may nevertheless represent the same at all such meetings, and may vote accordingly as a shareholder unless, in the instrument creating the mortgage or hypothecation, he has expressly empowered the holder of such mortgage or hypothecation to vote thereon, in which case only such holder or his proxy may vote in respect of such shares.

"(2) Subject to the articles of association, if shares are held jointly by two or more persons any one of them present at a meeting may, in the absence of the other or others, vote thereon, but if more than one of them are present, or represented by proxy, they shall vote together on the shares jointly held.

"(3) Where a corporation is executor, administrator, guardian, trustee or committee of a testator, intestate, infant, cestui que trust or lunatic, such corporation may appoint any of its officers, or employees, or a shareholder

of the company, as proxy to represent the shares at any such meeting and to vote accordingly as a shareholder."

4. The following section is inserted after section 90: New section

90a

qualified to

"90a.-(1) Any person holding shares, not in arrear Executors, etc., in respect of any call, in trust as executor, administrator, act as directors guardian, trustee or committee of a testator, intestate, infant, cestui que trust or lunatic, may be elected a director, and where any such director ceases to hold shares in trust he shall thereupon cease to be a director, and when a corporation holds such shares in trust as aforesaid any officer or officers of such corporation may be elected as a director or directors and when such corporation ceases to hold such shares in trust any officer so elected shall thereupon cease to be a director.

"(2) A director elected under the provisions of subsection (1) shall not be personally liable under the provisions of section 108, but the estate or other beneficial owner of the shares held in trust by such director, or by the corporation of which such director is an officer, shall be subject to all the liabilities imposed upon directors by the said section 108."

force

5. This Act shall come into force on the first day of Coming into May, 1927.

Rev. Stat. c. 77

Powers re

disposal of grain

H

1927

CHAPTER 19 ·

An Act to amend The Trust Companies Act.

[Assented to March 1, 1927.]

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

1. The Trust Companies Act is amended by inserting the following section after section 61:

"61a. The company may enter into a contract with a company or association established for the purpose of buying, selling and marketing grain on the non-profit co-operative plan. Such contract may provide for marketing grain, grown upon the land of any trust estate vested in the company, through such co-operative company or association, notwithstanding that the contract may provide for the retention from the purchase price of the grain of a certain sum or percentage to provide a reserve fund or facilities for handling the commodities in which the co-operative company or association deals."

1927

CHAPTER 20

An Act to amend The Companies Winding Up Act.

H1

[Assented to March 1, 1927.]

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

1. The Companies Winding Up Act is amended in the Rev. Stat. manner hereinafter set forth.

c. 82

2. Subsection (2) of section 34 is amended by adding Section 34 thereto the words "and the registrar shall strike the name amended of the company off the register."

3. Section 35 is amended by adding thereto the words Section 35 "who shall strike the name of the company off the reg- amended

ister in accordance with the order."

Short title

Power to become incorporated

Proceedings to obtain

1927

CHAPTER 21

An Act respecting Benevolent and Other Societies.

[Assented to March 1, 1927.]

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

follows:

SHORT TITLE.

1. This Act may be cited as The Benevolent Societies Act, 1927.

INCORPORATION OF SOCIETY.

2.-(1) Any five or more persons of full age may become incorporated under this Act for any benevolent or provident purpose or for any other purpose not illegal save and except for the purpose of trade or business.

(2) Where any Act other than The Companies Act provides for the incorporation of persons for a special purpose, no society shall be incorporated for that purpose under the provisions of this Act. R.S.S. 1920, c. 83, s. 2, amended.

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3. (1) The proceedings to obtain incorporation shall incorporation be as follows:

1. Such persons shall make and sign a declaration in writing setting forth the intended corporate name of the society, the purpose of the society, the place where the operations of the society are to be chiefly carried on in the province, the names of those who are to be the first trustees or managing officers, the mode in which their successors are to be appointed, an address in the province to which communications and notices may be sent and at which process may be served, and such other particulars and provisions as the corporators think fit provided that such particulars and provisions are not contrary to law;

2. The declaration may be made and signed in duplicate or in as many parts as are required; it shall be dated and signed in the presence of a witness with the full names of the declarants, giving their addresses and occupations; and the witness shall sign his full name, adding his occupation and address;