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B1 020 mssn M . , _ Vote Tonight _ M=<" * ope : Securities Act | 9 @ Read Third Time _ in Legislature in Ledisat May Tell Story n egls a ure \| Defeat of the Drew Government By SIDNEY NORMAN by a combination of Opposition f The Securitiese Act of 1945 was jvoles is seen ES z}lsttrong possibil-- read for the third time in the legis-- |:'h3; 'gh::fl:hf';ome!:':pa,l'};:o:'":jdi mid lature yesterday and now awaits |toni }?t " The " 'beliet hase i?"e proclamation before becomi}:\gdla:'. A strofige.r in recent days thagt oth'e' o $ # few important changes ha een s C LE made previously in Legal Bills Com-- '%g:e'gt:?o:;:;(}gg&"]& v&te 'é"th WI" Reorganlze mittee, to which it had bgen re-- 'ernme-nt. 'motion e uov-- ferred following the second read-- A guigd ing, following a great deal of 'dis-- | Wlth"I:remler (I'l)re\:\;halreaiy clear« Farm D cussion between Attorney General y on the record with a challenge L. E. Blackwell, Mrs. Viola Mac-- ho other sternsiive thanihe dara millan, presdient of Prospectors o ratl? procvses tof sah celection d?;"'l" Reorganization of the Ontario & Developers Association, and a Was re'fuse('l. co--operation on ltht Department of Agriculture into four phalanx of legal advisers, including ciment . of »'may ructive main divisions with a qualified spe-- Thomas J. Day, Samuel Ciglen and eaisighion" it 'is belleved "that lan cialist at the head of each will be Samuel Mann, s ladgverse vote would be accept:d :': undertaken by the Government to One of the most important [X non--confidence motion and that meet postwar needs, Agriculture changes, so far as the unlisted Ithe Premicr would--seck dissol t'a Minister T. L. Kennedy said yester-- brokerage business is concerned, is [of th * Sent Lecigiat ssgu ion day. that delivery of prospectus before or the Liperal mempers are rergs. Addressing the agriculture com-- trades can be legally closed has i:' r 't' g e':zi ?tl:tm ers arel reluc» mittee of the Legisisture, Col. Ken been made to apply only to primary fearing the resuit cat The bresom nedy listed the four divisions as issuers, instead of covering a}1 timme. "~ e present Trimar.v products, dairy products, issues offered by brokers,. An ef-- * 4 ive--stock products and marketing. fort to substitute a clause to the MLaIlJ):r(-lP.rogresswz Leader A. A. With reorganizatior of the depart-- effect that every advertisement, of-- A a(ci 0d 1s reportde prepared to in« ment along these linss, greater ser-- fering or solicitation to the public t.ro uce an arlr}%n ment to the mo-- vice would be rendered the farmers to subscribe for or purchase a .londpnce the 1§ral subamendment than ever before, the Minister said. security should state where a copy tig. 3t 3y Sein would: be rarerrsrenmt "It seems to me that the biggest of the material mentioned in Sec-- this, it is saf}d, would be a straight jJob that lies ahead of the depart-- tion 55 could be obtained, seems to ;')vant-of-con idence motion. Mem« ment is that of doing everything have failed of adoption, though ersldage uncdertam }:vh_at the C.C.F. possible to ensure adequate markets strongly advocated by the mining leader E. E. dolifie being HidgK for our agricultural products in the interests. l nte C ie years after the war," said Col. Ken-- Another change refers to the pro-- posestob vote the Government out hedy. "That involves more than a vision in the original drafts, under ""One Teport bouy nient age . job of marketing. It goes right back Section 15, automatically denying § e rfepto; gqc Fmg t was that to the point of production, because broker's, salesman's or investment i)om'i' C el' .CF. group would the securing of markets depends on counsel's license to anyone who had hA pa'rty ines and vote for t_h'e what we produce, how we produ« not been a resident of Ontario for Liberal subamendment which criti-- it and at what cost. at least one year with the intention cizes religious education in the "With this in mind, it is my in-- of becoming a permanent resident schools and the Governmient's post« tention to reorganize the depart-- of the Province. By the change,| was, immisriion platis, ment so that all its branches will registration is left in the absolute} The CCF. am?"dm'{'}t charged fit into one of the four main divi-- discretion of the commission, but| the Government with failing to plan sions, three of them having to do may be refused in any such cases and organize Ontario's resources to with production and the fourth as the latter sees fit. guarantee productive employment with marketing," said Col. Kernedy. ¥et another change has been in the postwar; with omitting \to made in original Section 56 by limit-- forecast basic farm legislation; with ing to 60 days the period in which failing to implement its promises any party may bring action against Wlth_ respect to educa.txon. health a broker for failure to deliver a services and other major matters, | prospectus before closing a sale. and with failure to help create con-- Telephone Ruling Stands ditions of national uz't, Section No. 60, the telephone and calling inhibition, which was the subject of much heated discussion, i k i \has also been amended, so that the | In 'addition to these chariges in \right to call or telephone has been |the Securities Act, the represehma.x- extended to a close personal friend, | tives of the mining mdl}StI'YL 8:\;3 a business associate, or a customer |bersuaded Minister of Mines L. i. with whom the caller has been in |Frost to agree to an-enlargement_ of the habit of trading in securitiee the old act by which prospecting not exempt from registration, and, syndicates with capital of notbmore this is the important concession, "of, |than $10,000 could be formed | 3}'] a"t a person who has requested in writ-- |actual prospector or Stake!". wit ouf ing that information respecting any |compliance .w1th the prb\'ISll(')nSt. o security be furnished him by the |the Securities Act. Capxtzlalzadxor; person so calling or telephonin~ ;in the new act is to be placed aA ; but in such case the person so ca':l. |not more than $35,000, but'fortr:'xatlon ing or telephoning shall call or "of such syndicates will still be con-- telephone only in reference to such fined to actual prospectors or security." \ stakers. o