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M-1 - Mortmain Act

Section 3
Disposition versions

Full text
3. No such corporation formed for the purpose of promoting art, science, religion, charity or any other like object, not involving the acquisition of gain by the corporation or by the individual members thereof, shall, without the sanction of the Government, hold more than four hectares and five hundredths of land; but the Government may, after having obtained the opinion of the Inspector General of Financial Institutions, by licence under the hand of the Minister, empower any such corporation to hold lands in such quantity and subject to such conditions as it shall think fit.
R. S. 1964, c. 276, s. 3; 1969, c. 26, s. 115; 1975, c. 76, s. 11; 1977, c. 60, s. 37; 1981, c. 9, s. 24; 1982, c. 52, s. 205.
3. No such corporation formed for the purpose of promoting art, science, religion, charity or any other like object, not involving the acquisition of gain by the corporation or by the individual members thereof, shall, without the sanction of the Government, hold more than four hectares and five hundredths of land; but the Government may, by licence under the hand of the Minister of Financial Institutions and Cooperatives, empower any such corporation to hold lands in such quantity and subject to such conditions as it shall think fit.
R. S. 1964, c. 276, s. 3; 1969, c. 26, s. 115; 1975, c. 76, s. 11; 1977, c. 60, s. 37; 1981, c. 9, s. 24.
3. No such corporation formed for the purpose of promoting art, science, religion, charity or any other like object, not involving the acquisition of gain by the corporation or by the individual members thereof, shall, without the sanction of the Government, hold more than four hectares and five hundredths of land; but the Government may, by licence under the hand of the Minister of Consumer Affairs, Cooperatives and Financial Institutions, empower any such corporation to hold lands in such quantity and subject to such conditions as it shall think fit.
R. S. 1964, c. 276, s. 3; 1969, c. 26, s. 115; 1975, c. 76, s. 11; 1977, c. 60, s. 37.
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