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S.M. 2013, c. 20
Bill 302, 2nd Session, 40th Legislature
Les Franciscaines Missionnaires de Marie Incorporation Amendment Act
(Assented to September 13, 2013)
WHEREAS Les Franciscaines Missionnaires de Marie was incorporated by An Act to Incorporate "Les Franciscaines Missionnaires de Marie", S.M. 1901, c. 59, and continued as a corporation by Les Franciscaines Missionnaires de Marie Incorporation Act, R.S.M. 1990, c. 57;
AND WHEREAS Les Franciscaines Missionnaires de Marie has presented a petition requesting the following amendments to Les Franciscaines Missionnaires de Marie Incorporation Act, and it is appropriate to grant the petition;
THEREFORE HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:
Les Franciscaines Missionnaires de Marie Incorporation Act is amended by this Act.
Subsections 1(2) and (3) are replaced with the following:
The corporation has the capacity, rights and powers of a natural person for carrying out its objects and purposes.
A council consisting of the directors appointed in accordance with the by-laws shall govern the affairs of the corporation.
The council may make by-laws respecting
(a) the administration, management and control of the property, undertakings, business and other temporal affairs of the corporation;
(b) the appointment, term of office, functions, duties and remuneration of all members, directors, officers, agents and servants of the corporation and their successors;
(c) the admission of members to, and their dismissal from, the corporation;
(d) any other matter the council considers necessary or advisable for managing and administering the temporal affairs of the corporation or carrying out its objects and purposes.
Without limiting subsection (2), the corporation may, for its purposes
(a) borrow money upon the credit of the corporation;
(b) limit or increase the amount to be borrowed;
(c) make, draw, accept, endorse or become party to promissory notes or bills of exchange; and
(d) mortgage or pledge the property of the corporation to secure any debt of the corporation.
Section 2 is repealed.
This Act comes into force on the day it receives royal assent.