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S.M. 1998, c. 60
THE ST. PAUL'S COLLEGE INCORPORATION AMENDMENT ACT
(Assented to June 29, 1998)
WHEREAS St. Paul's College was incorporated by An Act to incorporate St. Paul's College and St. Paul's High School, S.M. 1966, c. 102;
AND WHEREAS St. Paul's College was continued as a corporation by The St. Paul's College Incorporation Act, R.S.M. 1990, c. 173;
AND WHEREAS St. Paul's College 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:
Section 2 is amended by striking out "the Rector, the Vice-Rector, the Comptroller and the Consultors of the college and their successors in office so long as those persons and their successors hold the respective offices and".
Clause 9(c) is repealed and the following is substituted:
(c) manage and deal with all property entrusted to it, and make all investments, re-investments, conversions, sales or dispositions of that property which may at any time appear necessary or desirable, with power to retain investments in the form received by the college so long as the college thinks it proper, but the college shall not make any new investments or re-investments of such property other than in securities in which a trustee or trust company may invest trust monies under the laws of the Province of Manitoba or in which life insurance companies are permitted to invest their funds under the Insurance Companies Act (Canada).
This Act comes into force on the day it receives royal assent.