This is an unofficial archived version of The Victoria Curling Club Limited Additional Powers Act
as enacted by SM 1990-91, c. 1 on November 14, 1990.
 

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R.S.M. 1990, c. 205

The Victoria Curling Club Limited Additional Powers Act

Table of contents

WHEREAS Canadian Pacific Curling Club Limited was incorporated under The Companies Act by letters patent dated May 1, 1929;

AND WHEREAS supplementary letters patent were issued to Canadian Pacific Curling Club Limited on March 30, 1967 thereby changing its name to Victoria Curling Club Limited (hereinafter referred to as the "corporation");

AND WHEREAS the corporation, by its petition, prayed for extraordinary powers for the corporation beyond those powers as granted by or under any other Act of the Legislature;

AND WHEREAS its prayer was granted and resulted in the enactment of An Act to grant additional powers to Victoria Curling Club Limited, assented to August 18, 1983;

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 ordinary common shares in the capital stock 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.

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 an ordinary 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, 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.

One year extension

6

Any shareholder whose share is cancelled may apply to the corporation within one year of the date of cancellation for the reissue of the share and if the assessment or charge is paid and the board of directors is satisfied that the shareholder had title to the share at the time it was cancelled, the board shall reissue the share.

NOTE:  This Act replaces S.M. 1982-83-84, c. 103.