BILL NO. 85
1st Session, 60th General Assembly
55 Elizabeth II, 2006
Masonic Foundation of Nova Scotia
The Honourable Jamie Muir
Truro - Bible Hill
First Reading: November 6, 2006
Second Reading: November 9, 2006
Third Reading: November 23, 2006 (WITH COMMITTEE AMENDMENTS) (LINK TO BILL AS PASSED)
An Act Respecting the Transfer of
Assets and Liabilities of the
Nova Scotia Freemasons' Home to
The Masonic Foundation of Nova Scotia
Be it enacted by the Governor and Assembly as follows:
(a) "corporation" means the Board of Trustees of the Nova Scotia Freemasons' Home incorporated by Chapter 129 of the Acts of 1943, An Act to Incorporate the Board of Trustees of the Nova Scotia Freemasons' Home;
2 Notwithstanding clause 4(b) of Chapter 129 of the Acts of 1948, the corporation shall take all measures necessary to transfer all the assets of the corporation to the foundation as a "specified gift" within the meaning of subsection 149.1(1) of the Income Tax Act (Canada) effective January 1, 2007.
(b) a reference in any enactment or document, including any conveyance, contract or will, to the corporation shall, as regards any subsequent matter, transaction or thing, be held and construed to be a reference to the foundation; and
4 (1) The officers of the corporation have the power to execute any documents necessary to effect the transfer referred to in Section 2 and, upon the transfer having been completed in accordance with the Income Tax Act (Canada), shall advise the Minister of Justice that the transaction is complete and that Chapter 129 of the Acts of 1948 may be repealed.
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