Legislative Assembly of New Brunswick
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An Act to Repeal the Bulk Sales Act

Legislature :
55
Session :
1
Bill No. :
36
Member :
Hon. Mr. Green
First Reading :
2004-3-31
Second Reading :
2004-4-2
Committee of the Whole :
2004-6-10
Amended :
Third Reading :
2004-6-11
Royal Assent :
2004-6-30
Download PDF :
Bill 36

Text of Bill :
Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:



1                           The Bulk Sales Act, chapter B-9 of the Revised Statutes, 1973, is repealed.



2                           New Brunswick Regulation 82-162 under the Bulk Sales Act is repealed.



3                           New Brunswick Regulation 88-77 under the Financial Administration Act is repealed.



Credit Unions Act

4                           Subsection 140(4) of the Credit Unions Act, chapter C-32.2 of the Acts of New Brunswick, 1992, is repealed.



Loan and Trust Companies Act

5                           Paragraph 245(1)(b) of the Loan and Trust Companies Act, chapter L-11.2 of the Acts of New Brunswick, 1987, is repealed and the following is substituted:



(b)               authorizing and directing the sale of the assets of the licensed company in whole or in part,



Commencement

6                           This Act comes into force on August 1, 2004.



EXPLANATORY NOTES



Section 1



Repeal provision.



Section 2



Repeal provision.



Section 3



Repeal provision.



Section 4



The amendment to the Credit Unions Act is consequential on the repeal of the Bulk Sales Act.



Section 5



The amendment to the Loan and Trust Companies Act is consequential on the repeal of the Bulk Sales Act.



Section 6



Commencement provision.

 

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