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Third Session, Thirty-Seventh Legislature

This version is based on the printed bill that was distributed in the Legislature after First Reading.
It is not the official version.   If accuracy is critical, you can obtain a copy of the printed bill from Statutory Publications.

Bill 304

THE WINNIPEG REAL ESTATE BOARD INCORPORATION AMENDMENT ACT


Explanatory Note

(Assented to                                         )

WHEREAS the persons hereinafter named, by their petition, prayed that The Winnipeg Real Estate Exchange should be incorporated: George Montague Black, J. Hugo Ross, Mark Fortune, Charles Henry Enderton, William Hicks Gardner, William Bevans Fairbank, James Scott, James Brown Pepler, Arthur Stewart, George Frederick Carruthers, William J. Christie and Henry S. Crotty, all of the City of Winnipeg, in the Province of Manitoba, real estate and financial agents;

AND WHEREAS their prayer was granted, and resulted in the enactment of An Act to Incorporate "The Winnipeg Real Estate Exchange", assented to March 18, 1903;

AND WHEREAS the Act was subsequently amended and the name of the corporation changed to The Winnipeg Real Estate Board;

AND WHEREAS the Winnipeg Real Estate Board has by its petition prayed that it be enacted as hereinafter set forth, and it is expedient to grant the prayer of the petition;

THEREFORE HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:

R.S.M. 1990, c. 226 amended

1           The Winnipeg Real Estate Board Incorporation Act is amended by this Act.

2           Section 4 is replaced with the following:

Board of directors

4           The affairs and business of the corporation shall be managed by the board of directors, the number and composition of which shall be fixed in the by-laws of the corporation.

3           Section 5 is amended by striking out "officers" and substituting "directors".

4           Section 6 of the English version is amended by striking out "indorse" and substituting "endorse".

5(1)        Subsection 8(1) is amended by striking out "during November or December" and substituting "at a time to be fixed in the by-laws of the corporation".

5(2)        Subsection 8(2) is repealed.

5(3)        Subsection 8(3) is replaced with the following:

Directors:  term of office

8(3)        The directors shall be elected at the election meeting and shall take and hold office in accordance with the by-laws of the corporation.

5(4)        Subsection 8(4) is amended by striking out "officers" and substituting "directors".

5(5)        Subsection 8(5) is amended by striking out "officers and".

6           Section 12 is amended by striking out "set out in Schedule A" wherever it occurs and substituting "established by by-law of the corporation".

7           Subsection 13(3) is amended by striking out "the terms of submission of the arbitration in the form set out in Schedule A" and substituting "a request for arbitration, in the form established by by-law of the corporation,".

8           Section 14 is amended by striking out "in Schedule B" and substituting "established by by-law of the corporation".

9           Section 15 is amended by striking out "in Schedule C to this Act" and substituting "established by by-law of the corporation".

10          Schedules A, B and C are repealed.

Coming into force

11          This Act comes into force on the day it receives royal assent.

Explanatory Note

This Bill enables The Winnipeg Real Estate Board to determine by by-law the size and composition of its board of directors, the terms of office of directors and when within the year elections to the board are held.  It also enables forms to be prescribed by by-law, rather than having them prescribed in the Act.