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HAVING FORCE OF LAW
ERRATA OF 1915
An omitted section of "The Sale of Shares Act."
WINNIPEG, MANITOBA :
PRINTED BY JAMES HOOPER, KING'S PRINTER FOR THE
PROVINCE OF MANITOBA.
Public notice is hereby given that chapter 69 of the Statutes of Manitoba, 5 George v, intituled "An Act to further amend 'The Sale of Shares Act,' as printed in the volume issued for 1915, is seriously defective, by the omission of section 3, as enacted by the Legislature. The section omitted is as follows:
3. (1) For the purpose of facilitating commercial, industrial and mining undertakings in Manitoba, it is declared that whenever it shall appear that a company whose undertaking, being of the nature aforesaid, has not been developed and that it is therefore not known that a fair return is promised upon its shares, stocks, bonds or securities so as to justify a certificate under section 10 of "The Sale of Shares Act," the commissioner may, in his discretion, grant a special certificate in respect of the shares, stocks, bonds or securities of any such company, permitting the offer by the company to the public for purchase of shares, stocks, bonds or securities to be issued by the company, and the commissioner may, by the certificate, or subsequently, impose conditions and restrictions which shall be observed by the company or other persons in acting under such special certificate.
(2) Such special certificate may include a condition that the moneys to be paid for any such shares, stocks, bonds or securities shall, without impairment, be directly transmitted by the company or person receiving the same to a trustee, to ensure the application thereof towards the undertaking of the company, less such reasonable expenses incident to the sale and trusteeship as are defined in such special certificate.
(3) Any such company or person who fails to observe the conditions. imposed by this Act or by such special certificate shall be guilty of an offence punishable under section 15 of the said Act.
(4) Any stipulation, condition or restriction imposed by any such special certificate or made the basis of the grant thereof may be invoked by any person who purchased shares, stocks, bonds or securities of the nature described therein, as if such stipulation, condition or restriction were assumed by contracts made with him by the company or persons upon whom such stipulation, condition or restriction has been imposed.
(5) Such special certificate shall not authorize the offer of such shares, stocks, bonds or securities comprised in such special certificate by any person other than the company issuing the same, and such offers shall not be made by any other persons, until a certificate shall have been granted in respect of the shares, stocks, bonds or securities of the company under section 10.
(6) In case of violation of or failure to observe any such stipulations, conditions or restrictions, or for any cause for which any certificate under this Act may be revoked, the Commissioner may revoke any special certificate granted under this section, and the same shall thereupon be of no avail. The fact of such revocation shall be published in such manner as the commissioner may direct.
4. This Act shall come into force on the day it is assented to.
Dated at the office of the Provincial Secretary, this twenty-eighth day of October, A.D. 1915.
[Manitoba Gazette, October 30th, 1915.]
J. W. ARMSTRONG,
1. Bringing into force, in the Town of Swan River, the provisions of "An Act respecting the Taxation of Personal Property in Incorporated Towns and Villages," being chapter 137 of the Revised Statutes of Manitoba, 1913.
D. C. CAMERON,
CANADA-PROVINCE OF MANITOBA.
GEORGE THE FIFTH, by the Grace of God, of the United Kingdom of Great Britain and Ireland, and of the British Dominions beyond the Seas, King, Defender of the Faith, Emperor of India.
To all to whom these presents shall come-GREETING.
Revised Statutes of Manitoba, 1913, intituled
WHEREAS, by section 2 of chapter 137 of the
"An Act respecting the Taxation of Personal Property in Towns and Villages," it is provided that the provisions of the said Act shall come into force, as to any particular incorporated town or village in the Province of Manitoba, upon proclamation to that effect; and whereas the council of the Town of Swan River has requested that the provisions of the said Act be brought into force in that municipality; and whereas it is deemed expedient to grant the request of the said council,
Now know ye that, by and with the advice and consent of the Executive Council of our Province of Manitoba, and under and by virtue of the authority of said Act and of any other power whatsoever in us vested in that behalf, we have ordered and declared, and do hereby proclaim, that on, from and after the twenty-second day of March, A.D. 1915, the provisions of the Act above mentioned shall come into force in the Town of Swan River.
In testimony whereof we have caused these our letters to be made patent and the great seal of the Province of Manitoba to be hereunto affixed. Witness His Honour Sir Douglas Colin Cameron, Knight Commander of our most distinguished Order of Saint Michael and Saint George, Lieutenant-Governor of our said Province of Manitoba, at our