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It has been in effect since November 14, 1990, when this Act came into force.
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R.S.M. 1990, c. 144
The Prowse Prize Fund Act
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WHEREAS in or about the year 1924, in recognition of the notable work of Dr. Samuel Willis Prowse, then Dean of The Faculty of Medicine of The University of Manitoba, in the interests of medical education in the province of Manitoba, an endowment fund was established for the purpose of providing from the income thereof a prize to be known as "The Prowse Prize" in order to perpetuate the memory of the said Dr. Samuel Willis Prowse;
AND WHEREAS on September 17, 1924, The Board of Governors of the University of Manitoba passed the following resolution:
"Announcement was received of the establishment of a special endowment fund by contributions from the Manitoba Medical Alumni Association, the College of Physicians and Surgeons of Manitoba, the members of the Faculty of Medicine of the University, and from members of the 'Old Faculty' of Manitoba Medical College, the revenue from this endowment to be known as the Prowse Prize, to consist of a bronze medal, and two hundred and fifty dollars in cash, and to be awarded for such purpose and under such conditions as the present Dean of the Faculty may decide. It was decided to approve the establishment of such a prize, and to refer the conditions of award to the Medical Faculty, and the University Council";
AND WHEREAS the said Dr. Samuel Willis Prowse died on or about August 1, 1931, without having decided for what objects and under what conditions The Prowse Prize should be awarded, and doubts exist as to the legal right of anyone else to determine for what objects and under what conditions the said prize shall be awarded, and it was considered desirable that terms of the said trust be authoritatively declared;
AND WHEREAS The Faculty of Medicine of The University of Manitoba retained the custody of the said fund, and invested and administered the same, and awarded the said prize and determined the conditions governing the award thereof, but desired to be relieved of the custody and administration of the said fund and to transfer the said fund to the University;
AND WHEREAS a report of the Comptroller-General of the province of Manitoba on the audit of the accounts of The University of Manitoba for the fiscal year ending April 30, 1937, showed the total assets of the said endowment fund and particulars of the accumulated income and the principal as at that date;
AND WHEREAS certain persons, by their petition, prayed that an enactment should be made;
AND WHEREAS their prayer was granted, and resulted in the enactment of An Act respecting the Prowse Prize Fund, assented to March 15, 1938;
AND WHEREAS the Minister of Justice has caused the 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:
The said endowment fund shall be known as The Prowse Prize Fund.
The said endowment fund is vested in The University of Manitoba, subject to the trusts herein declared.
The income of the said endowment fund, or such portion thereof as may be required for that purpose, shall be used to provide annually a prize to be known as "The Prowse Prize", but the said prize may be withheld in any year in which none of the work submitted is considered to be of sufficient merit to justify its award, or for any other reason permitted by the regulations governing the award.
If the income of the said endowment fund exceeds the amount required to provide The Prowse Prize, The Board of Governors of the University of Manitoba, in its absolute discretion, may from time to time add to the corpus of the said endowment fund the whole or any portion of the unexpended income.
The Prowse Prize shall be awarded at such times, for such objects and under such conditions as may be prescribed by regulations in that behalf recommended by The Faculty Council of Medicine of The University of Manitoba and approved by The Senate of the University of Manitoba.
The regulations governing the said award shall not have any force until approved by The Board of Governors of the University of Manitoba, but may be changed from time to time by The Faculty Council of Medicine and the Senate with the approval of the Board.
Any disputes arising as to the regulations governing the award of The Prowse Prize, or as to the interpretation of the said regulations, or the variation thereof, and all questions relating to the investment or administration of the said endowment fund shall be settled and determined by The Board of Governors of the University of Manitoba, whose decision shall be final.
All acts done prior to March 15, 1938 by The Faculty of Medicine of The University of Manitoba, or by The Faculty Council of Medicine, or done by or in the name of The University of Manitoba, in connection with the investment or administration of the said endowment fund, or in connection with the award of The Prowse Prize, or in any way relating to the said trust, are hereby validate.
NOTE: This Act replaces S.M. 1937-38, c. 78.