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The Rossmere Golf and Country Club Limited Additional Powers Act
This is an unofficial version.
If you need an official copy, use the bilingual (PDF) version.

This version is current as of June 22, 2017.
It has been in effect since November 14, 1990, when this Act came into force.
 

RSM 1990, c. 154

The Rossmere Golf and Country Club Limited Additional Powers Act

WHEREAS Rossmere Golf and Country Club Limited (hereinafter referred to as "the corporation") was incorporated under the laws of Manitoba by letters patent dated September 15, 1954;

AND WHEREAS the shareholders of the corporation at a special general meeting called for the purpose authorized and instructed the directors thereof to apply to the Legislature to obtain extraordinary powers for the corporation beyond those powers as granted under the laws of Manitoba, and the corporation, by its petition, prayed that those powers should be granted;

AND WHEREAS its prayer was granted, and resulted in the enactment of An Act to Grant Additional Powers to Rossmere Golf and Country Club Limited, assented to June 15, 1979;

AND WHEREAS the Minister of Justice has caused this Act to be prepared in English and French for re-enactment in accordance with a judgment dated June 13, 1985 and an order dated November 4, 1985 of the Supreme Court of Canada;

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

Authority for annual assessment

1           The corporation, in addition to the powers vested in it by or under any other Act of the Legislature, may assess or charge the holders of the common shares of the corporation an annual amount of money for each share which amount shall form part of the general revenues of the corporation.

Resolution authorizing assessment

2           The directors of the corporation may by resolution authorize the assessment or charge to be made in any fiscal year of the corporation pursuant to the provisions of section 1 hereof.

Notice of assessment

3           Each shareholder on record of the corporation shall be informed of any such assessment or charge by a written notice mailed postage prepaid to the latest address of the shareholder as shown on the records of the corporation, which notice shall specify the date by which the assessment or charge must be paid.

Lien on share

4           Any such assessment or charge made against the holder of a common share and unpaid by the said holder shall be a debt due to the corporation, and the corporation has a lien on each share so assessed in the amount of the unpaid assessment, and the corporation may refuse to approve the sale or assignment of such share until the assessment or charge has been paid.

Cancellation of share

5           If any such assessment or charge made under this Act remains unpaid after the date for payment specified in the notice sent to each shareholder in accordance with section 3 hereof, the board of directors may cancel the share and return it to the corporation, and the corporation may reissue the share to a new shareholder.

NOTE:  This Act replaces S.M. 1979, c. 57.