This Act creates the Acadian Purchase Trust, identifies the trust lands, appoints trustees through the Lieutenant Governor in Council, and gives the trustees powers over land description, management, revenues, and title claims.
c t ACADIAN PURCHASE TRUST ACT PLEASE NOTE This document, prepared by the Legislative Counsel Office, is an office consolidation of this Act, current to June 1, 2010. It is intended for information and reference purposes only. This document is not the official version of the Act. The Act and the amendments as printed under the authority of the King’s Printer for the province should be consulted to determine the authoritative statement of the law. For more information concerning the history of this Act, please see the Table of Public Acts on the Prince Edward Island Government web site (www.princeedwardisland.ca). If you find any errors or omissions in this consolidation, please contact: Legislative Counsel Office Tel: (902) 368-4291 Email: legislation@gov.pe.ca Acadian Purchase Trust Act Table of Contents c ACADIAN PURCHASE TRUST ACT Table of Contents Section Page 1. Establishment of trust ............................................................................................................................... 5 2. Lands subject to the trust ......................................................................................................................... 5 3. Escheat of trust lands ............................................................................................................................... 5 4. Beneficiaries of the trust .......................................................................................................................... 5 5. Appointment of trustees ........................................................................................................................... 5 6. Powers ...................................................................................................................................................... 5 7. Title claims............................................................................................................................................... 6 8. Regulations .............................................................................................................................................. 6 c t Current to: June 1, 2010 Page 3 Acadian Purchase Trust Act Section 1 c ACADIAN PURCHASE TRUST ACT CHAPTER A-1 1. Establishment of trust There is established a trust to be known as the Acadian Purchase Trust. 1988,c.5,s.1. 2. Lands subject to the trust The lands subject to the trust (in this Act referred to as the “trust lands”) are those lands comprising approximately 2000 acres in Prince County which were granted to members of the Acadian families in 1816. 1988,c.5,s.2. 3. Escheat of trust lands The trust lands are hereby deemed to have been escheated to the Crown in right of the province. 1988,c.5,s.3. 4. Beneficiaries of the trust The trust lands shall be held by the trustees in trust for the benefit of the residents and community of Miscouche. 1988,c.5,s.4. 5. Appointment of trustees (1) The trustees of the trust shall be appointed by the Lieutenant Governor in Council and shall hold office during pleasure. Remuneration (2) The trustees are entitled to such remuneration and expenses as the Lieutenant Governor in Council may determine. 1988,c.5,s.5. 6. Powers (1) The trustees have the following powers: (a) to develop an adequate legal description of the trust lands and define the boundaries thereof; (b) to establish and implement a management plan for the trust lands in order to develop commercial potential of the forestry, peat and other resources thereof; (c) to apply any revenues obtained from the development or use of the trust lands for any of the following purposes: (i) the improvement of the trust lands and the commercial development of the resources thereof, c t Current to: June 1, 2010 Page 5 Section 7 Acadian Purchase Trust Act (ii) the payment of the remuneration of the trustees referred to in subsection 5(2), and such other powers as may be prescribed in the regulations. Consultation and approval of boundaries (2) In the exercise of the powers under subsection (1), the trustees shall act after consultation with representatives of the community of Miscouche and any definition of the boundaries of the trust lands shall be submitted for approval at a public meeting in the community and shall not become the official boundaries of the trust lands unless such approval is given by a majority of the persons in attendance at the meeting. 1988,c.5,s.6. 7. Title claims The trustees shall have authority to grant any part of the trust lands, or any interest therein, to any person for the purpose of transferring or restoring the same to a person who claims the same and satisfies the trustees that he has sufficient legal or moral claim to the title thereof or an interest therein. 1988,c.5,s.7. 8. Regulations The Lieutenant Governor in Council may make regulations. 1988,c.5,s.8. Page 6 Current to: June 1, 2010 t c