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Second Session, Thirty-Eighth 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 3

THE HELEN BETTY OSBORNE MEMORIAL FOUNDATION AMENDMENT ACT


Explanatory Note

(Assented to                                         )

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

C.C.S.M. c. H38.1 amended

1           The Helen Betty Osborne Memorial Foundation Act is amended by this Act.

2           Clause 6(e) is amended by striking out "distribute such portion of the income earned from the fund" and substituting "subject to the regulations, distribute from the fund such amounts".

Coming into force

3           This Act comes into force on a day to be fixed by proclamation.

Explanatory Note

This Bill amends The Helen Betty Osborne Memorial Foundation Act to allow scholarships, bursaries and grants to be paid from money in the foundation's fund, subject to conditions that will be set by regulation.  Presently, only income earned from the management and investment of the fund can be used for those purposes.