|This is an unofficial archived version of The Royal Trust Company Mortgage Corporation Act|
as enacted by SM 1990-91, c. 1 on November 14, 1990.
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R.S.M. 1990, c. 159
The Royal Trust Company Mortgage Corporation Act
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WHEREAS The Royal Trust Company Mortgage Corporation (hereinafter referred to as "the company") is a corporation incorporated by letters patent issued under the laws of the Province of Quebec dated March 21, 1912, as varied and amended by supplementary letters patent;
AND WHEREAS the company was a loan company within the meaning of The Companies Act;
AND WHEREAS An Act respecting the Royal Trust Company Mortgage Corporation was assented to March 30, 1961;
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 authority of Royal Trust Company Mortgage Corporation to carry on business in the Province of Manitoba is continued.
The company is subject to, and shall be governed by, The Corporations Act in the same manner, and to the same extent, as loan companies incorporated under the authority of an Act of the Legislature of Manitoba and, without limiting the generality of the foregoing, is hereby authorized (subject to the provisions of its charter) to acquire, hold, mortgage, alienate, and otherwise dispose of, or lend money on the security of, real estate in the province and any interest therein to the same extent, and for the same purposes, and subject to the same conditions and limitations, as if the company had been incorporated under The Corporations Act.
NOTE: This Act replaces S.M. 1961 (1st sess.), c. 104.