Bill PR25 2014

An Act respecting The Loretto Ladies' Colleges and Schools

Preamble

The board of directors of The Loretto Ladies' Colleges and Schools has applied for special legislation to permit The Loretto Ladies' Colleges and Schools to acquire, hold and deal with property anywhere in or outside Canada. The Loretto Ladies' Colleges and Schools was incorporated by An Act to incorporate the Sisters of our Lady of Loretto, in the Diocese of Toronto, being chapter 187 of the Statutes of the Province of Canada, 1857 under the name The Sisters of our Lady of Loretto, for the Diocese of Toronto, in Upper Canada and the name of the corporation was changed to The Loretto Ladies' Colleges and Schools by An Act to amend the Act incorporating the Sisters of Our Lady of Loretto, 20 Victoria, Chapter 187, being chapter 75 of the Statutes of Ontario, 1898.  The applicant represents that the 1857 Act limited The Loretto Ladies' Colleges and Schools to acquiring, holding and dealing with property in the City of Toronto and elsewhere in Ontario.  The applicant represents that The Loretto Ladies' Colleges and Schools operates schools and colleges for girls and young women throughout Ontario on land it owns and that it is a registered charity within the meaning of the Income Tax Act (Canada).

It is appropriate to grant the application.

Therefore, Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

Power to hold, etc., property anywhere

   1.  Despite section 1 of An Act to incorporate the Sisters of our Lady of Loretto, in the Diocese of Toronto, being chapter 187 of the Statutes of the Province of Canada, 1857, The Loretto Ladies' Colleges and Schools may acquire, hold, sell and otherwise dispose of real or personal property anywhere in Canada or outside Canada.

Saving re prior dealings

   2.  Nothing in this Act invalidates any acquisition, sale or other act taken by The Loretto Ladies' Colleges and Schools in respect of real or personal property before this Act receives Royal Assent.

Commencement

   3.  This Act comes into force on the day it receives Royal Assent.

Short title

   4.  The short title of this Act is the Loretto Ladies' Colleges and Schools Act, 2014.

EXPLANATORY NOTE

The purpose of the Bill is set out in the Preamble.