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The Manitoba Oil and Gas Corporation Continuance Act

S.M. 1988-89, c. 31

Bill 53, 1st Session, 34th Legislature

The Manitoba Oil and Gas Corporation Continuance Act

(Assented to December 20, 1988)

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

Definitions

1           In this Act

"corporation" means The Manitoba Oil and Gas Corporation continued pursuant to The Manitoba Oil and Gas Corporation Act; («Société»)

"Director" means the Director appointed under The Corporations Act. («directeur»)

Continuance under The Corporations Act

2(1)        Notwithstanding any other Act, the corporation may apply for a certificate of continuance pursuant to subsection 181(2) of The Corporations Act, upon a resolution of the board of directors of the corporation authorizing such application, by filing articles of continuance with the Director.

Director to issue certificate

2(2)        On the filing of articles of continuance pursuant to subsection (1) together with a fee in the amount of $250, the Director shall issue to the corporation a certificate of continuance.

Effect of certificate

3           On the issuance of the certificate of continuance pursuant to subsection 2(2) by the Director

(a)The Corporations Act applies to the corporation as if it had been incorporated under that Act;

(b)The Manitoba Oil and Gas Corporation Act no longer forms part of the articles of the corporation; and

(c)The Manitoba Oil and Gas Corporation Act no longer applies to the corporation.

C.C.S.M. c. 034 repealed

4            The Manitoba Oil and Gas Corporation Act is repealed.

Coming into force

5(1)        Subject to subsection (2), this Act comes into force on the day it receives the royal assent.

Section 4, proclamation

5(2)        Section 4 of this Act comes into force on a day fixed by proclamation.