15 GEORGE VI.
An Act to amend The United Church of Canada Act.
[Assented to 21st March, 1951.]
WHEREAS The United Church of Canada, a corporation incorporated by chapter
one hundred of the statutes of 1924, has prayed that it be enacted as hereinafter
set forth and it is expedient to grant the prayer of the petition:
Therefore His Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:—
1. Paragraph (c) of section eighteen of The United Church of Canada Act, chapter one hundred of the statutes of 1924, is repealed and the following substituted therefor:—
"(c) To lend money upon the security of real estate; and to invest and re-invest any of its funds and money, including such as are held for The Pension Fund of the said Church, in any debentures of municipal or public school corporations or public school districts in Canada, or in the securities of or guaranteed by the Government of Canada or of any province thereof; or in any securities in which life insurance companies are authorized from time to time by the Parliament of Canada to invest funds subject to the limitation on investments in stocks, bonds and debentures set out in The Canadian and British Insurance Companies Act, 1932, and for all purposes of any loan or investment it shall have all such rights and remedies for the collection, enforcement or repayment thereof as any individual or corporation would have by law in the premises."
OTTAWA: Printed by Edmond Cloutier, C.M.G., O.A.,
Law Printer to the King's Most Excellent Majesty.