|This is an unofficial archived version of The Steinbach Curling Club Ltd. Additional Powers Act|
as enacted by SM 1990-91, c. 1 on November 14, 1990.
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R.S.M. 1990, c. 189
The Steinbach Curling Club Ltd. Additional Powers Act
|Table of Contents|
WHEREAS STEINBACH CURLING CLUB LTD. (hereinafter referred to as "the corporation") was incorporated under the laws of Manitoba by letters patent dated the 24th of April, 1963;
AND WHEREAS the corporation, by its petition, prayed for extraordinary powers for the corporation beyond those powers granted under the laws of Manitoba;
AND WHEREAS its prayer was granted and resulted in the enactment of An Act to grant additional powers to Steinbach Curling Club Ltd., assented to August 18, 1983;
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:
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.
The directors of the corporation may by resolution authorize the assessment or charge to be made in any fiscal year of the corporation under section 1.
Each shareholder on record of the corporation shall be informed of any amount assessed or charged under section 1 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.
Any assessment or charge made against the holder of a common share of the corporation and unpaid by the said holder is 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 any share until all assessments or charges have been paid.
If any 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, 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.
Upon dissolution of the corporation, property remaining after paying all the debts and obligations of the corporation shall be paid to an organization in Manitoba the undertaking of which is similar to the purposes and objects of the corporation as set out in the letters patent or the undertaking of which is charitable.
The directors of the corporation shall serve as directors and officers without remuneration and no director shall directly or indirectly receive any profit from his position as director or officer, provided that a director may be paid reasonable expenses incurred by him in the performance of his duties.
No by-law, resolution, act or thing, passed or done before the coming into force of this Act by the directors of the corporation or by any person acting as a director of the corporation is void or invalid by reason only of the director or any of the directors not being qualified to be elected or appointed as a director of the corporation or of any defect in the election or appointment of the director or of any of the directors and no by-law, resolution, act or thing passed or done before the coming into force of this Act at a meeting of the directors of the corporation is void or invalid by reason only of an omission of a non-essential character in the calling or procedure of the meeting.
Notwithstanding The Corporations Act or any provision thereof, no by-law, resolution, or motion passed before the coming into force of this Act at any meeting of the shareholders is void or invalid by reason only that it did not receive any percentage specified in that Act of the votes of the shareholders of the corporation if the by-law, resolution or motion was passed by a simple majority vote of the shareholders present and voting at the meeting.
NOTE: This Act replaces S.M. 1982-83-84, c. 102.