BILL 64

An Act to Incorporate Les Religieux de Sainte-Croix d'Acadie

WHEREAS The Acadian Province of the Congregation of Holy Cross established a religious order at Saint-Joseph, in the County of Westmorland and Province of New Brunswick;

AND WHEREAS it is desirable to continue The Acadian Province of the Congregation of Holy Cross as a body corporate under the name "Les Religieux de Sainte-Croix d'Acadie" with the corporate seat at the City of Moncton, in the County of Westmorland and Province of New Brunswick;

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

1 The Acadian Province of the Congregation of Holy Cross, incorporated by An Act to incorporate Congregation Sainte Croix, Provinces Maritimes, chapter 95 of 9 George VI, 1945, and amended by AN ACT TO AMEND AN ACT TO INCORPORATE CONGREGATION SAINTE CROIX, PROVINCES MARITIMES, chapter 153 of 9 Elizabeth II, 1960, whose members were Reverend Dismas J. LeBlanc, President; Reverend Hector Leger, Vice-President; Reverend Clément Cormier, Assistant Superior; Gilbert Morin, in religion, Brother Viateur, Secretary; Joseph L. Gauvin, in religion, Brother Normand, their associates and successors, is hereby continued as a body corporate under the name "Les Religieux de Sainte-Croix d'Acadie" with all the general powers and privileges incident to corporations, and hereinafter referred to as the "Corporation".

2 The said Corporation shall have power to construct, conduct, control and maintain educational and charitable institutions according to the rules and by-laws of the Corporation.

3 The Corporation hereby constituted shall have perpetual succession, a common seal and may sue and be sued, may purchase, receive or otherwise acquire lands or buildings, may erect on such land acquired, as aforesaid, or any of them, educational institutions, vocational schools, seminaries or other institutions for training scholars or mission work, and may use, convert, adopt and maintain all or any of such land, buildings and premises to and for the purposes aforesaid and incidental thereto for the maintenance of the said institutions, may generally enjoy real and personal estate and may mortgage, lease, convey and sell or otherwise dispose of such real and personal estate for the furtherance of the objects of said Corporation.

4 The said Corporation shall have power by by-law to regulate the number of its officers and to give to each officer the name which the said Corporation may see fit to give and also to make, amend or repeal such by-laws, rules and regulations, not contrary to law nor inconsistent with the provisions of this Act, for the guidance of its officers and members, for the proper management, regulation and control of the affairs and business of its establishments or institutions and generally for the attainment of all its objects and purposes.

5 The Corporation may, by a simple delegation of the powers thereof appoint an agent or attorney, and may remove him or her at pleasure and appoint another in his or her stead, to represent the said Corporation and to take charge of and defend its interest before any courts of justice.

6 All debts and liabilities owing and incurred by the incorporators preliminary to their incorporation and incidental to the institutions which they propose to conduct and prior to the passage of this Act, shall be paid and discharged by the Corporation hereby constituted and all property, moneys and debts belonging to and due to the incorporators, at the time of the passage of this Act, shall vest in and may be sued for and collected in the name of the said Corporation.

7 The Corporation may receive real and personal property, by deed, gift, will or any other manner recognized by law, and no such deed, gift, will or other conveyance or transfer shall be or be held void in whole or in part on account of any errors in the name of the Corporation so long as the intention of the grantor, donor or testator is expressed beyond reasonable doubt, and no grant, deed, lease or any other conveyance or instrument, purporting to be made by the Corporation, shall be held to be void on account of any such errors, if the intent be expressed beyond reasonable doubt.

8 The said Corporation is hereby empowered to construct any or all of the buildings hereinbefore mentioned and for the raising of monies to enable the said Corporation to construct said institutions, to issue and dispose of bonds, debentures and other securities of the corporation, whether such bonds or debentures are secured by mortgage of part or all of the lands and premises of the Corporation or not, and to make and negotiate promises to pay; call in such bonds and debentures which by the terms were callable and redeem them by payment and generally to pledge the credit and property of the Corporation for the purpose of the Corporation provided that no such issue shall exceed the sum of one million dollars, and the rate of interest shall not exceed seven per centum per annum.

9 The said debentures shall be issued subject to and under the provisions of the Municipal Debentures Act, insofar as it can apply to the Corporation, and when so issued the said debentures shall be a first charge or lien on the property and assets of the Corporation as provided in any trust deed or mortgage given to secure the said debentures.

10 The said debentures when issued in accordance with the provisions of this Act, being secured by a first charge on land held in fee simple, shall be an investment in which executors and trustees are authorized to invest in like manner as authorized by section 2 of the Trustees Act.

11 The said debentures may be issued in serial form or for a fixed term or partly in serial form and partly for a fixed term and when required, the Corporation shall provide a sinking fund in accordance with the provisions of subsection 7(1) of the Municipal Debentures Act.

12 All monies received by the said Corporation from the sale of any debentures issued under this Act shall be expended for the purposes contemplated by this Act and for no other purpose.

13 The corporate seat of the Corporation shall be at the City of Moncton, in the County of Westmorland and Province of New Brunswick or any such other place as may be determined by the by-laws of the Corporation.

14 An Act to incorporate La Province Acadienne des Pères de Sainte Croix, chapter 95 of 9 George VI, 1945, formally known as An Act to incorporate Congregation Sainte Croix, Provinces Maritimes is repealed.