C.C.S.M. c. S60
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| PART 1
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| INTERPRETATION AND GENERAL PROVISIONS
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| 1
| (1)
| Definitions
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| (2)
| Interpretation — financial asset
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| (3)
| Interpretation limited to this Act
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| 2
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| Meaning of valid security
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| 3
| (1)
| Notice
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| (2)
| Giving a notice
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| (3)
| Receiving a notice
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| (4)
| When notice is effective for a transaction
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| (5)
| What constitutes due diligence: organization
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| (6)
| What constitutes due diligence: individual
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| 4
| (1)
| Obligation of good faith
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| (2)
| Definition of "good faith"
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| 5
| (1)
| Variation of Act by agreement
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| (2)
| Variation of obligations of good faith, diligence, reasonableness and care
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| 6
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| Principles of law and equity apply
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| 7
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| Clearing agency rules prevail
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| 8
| (1)
| Application to Crown
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| (2)
| Application of Proceedings Against the Crown Act
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| 9
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| Existing proceedings
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| PART 2
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| GENERAL MATTERS CONCERNING SECURITIES AND OTHER FINANCIAL ASSETS
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| DIVISION 1
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| CLASSIFICATION OF OBLIGATIONS AND INTERESTS
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| 10
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| Equity interest
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| 11
| (1)
| Mutual fund security
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| (2)
| Definitions
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| 12
| (1)
| Interest in partnership, limited liability company: security
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| (2)
| Interest in partnership, limited liability company: financial asset
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| (3)
| Definition
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| 13
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| Bill of exchange, promissory note
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| 14
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| Depository bill, depository note
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| 15
| (1)
| Clearing house option
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| (2)
| Definition
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| 16
| (1)
| Futures contract
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| (2)
| Definition
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| DIVISION 2
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| ACQUISITION OF FINANCIAL ASSETS OR INTERESTS IN THEM
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| 17
| (1)
| Acquisition of financial assets
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| (2)
| Acquiring other financial assets
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| (3)
| Rights on acquisition of security entitlement
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| (4)
| Operation of Act re other laws
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| DIVISION 3
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| NOTICE OF ADVERSE CLAIMS
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| 18
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| What constitutes notice of adverse claim
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| 19
| (1)
| Notice of transfer
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| (2)
| Exception
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| 20
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| Delay
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| 21
| (1)
| Statement on security certificate
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| (2)
| Name on security certificate
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| 22
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| Registration of financing statement
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| DIVISION 4
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| CONTROL OF FINANCIAL ASSETS
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| 23
| (1)
| Purchaser's control of certificated security in bearer form
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| (2)
| Purchaser's control of certificated security in registered form
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| 24
| (1)
| Purchaser's control of uncertificated security
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| (2)
| Purchaser's control where registered owner retains certain rights
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| 25
| (1)
| Purchaser's control of security entitlement
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| (2)
| Purchaser's control where entitlement holder retains certain rights
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| 26
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| Securities intermediary's control of security entitlement
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| 27
| (1)
| Agreement re control of uncertificated security
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| (2)
| Confirmation of agreement by issuer
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| (3)
| Issuer not required to enter into agreement
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| 28
| (1)
| Agreement re control of security entitlement
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| (2)
| Confirmation of agreement by securities intermediary
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| (3)
| Securities intermediary not required to enter into agreement
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| DIVISION 5
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| ENDORSEMENTS, INSTRUCTIONS AND ENTITLEMENT ORDERS
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| 29
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| Effectiveness of endorsement instruction or entitlement order
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| 30
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| Effectiveness of endorsement, instruction or entitlement order made by representative
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| 31
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| Endorsement, instruction or entitlement order remains effective
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| 32
| (1)
| Date when effectiveness is determined
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| (2)
| Not made ineffective by change of circumstances
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| DIVISION 6
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| WARRANTIES APPLICABLE TO DIRECT HOLDINGS
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| 33
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| Warranties on transfer of certificated security
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| 34
| (1)
| Warranties on transfer of uncertificated security
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| (2)
| Warranties on transfer of uncertificated security where no instruction originated for transfer
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| 35
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| Warranties on endorsement of security certificate
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| 36
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| Warranties on instruction re uncertificated security
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| 37
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| Warranty on presentation of security certificate
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| 38
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| Warranties by agent delivering certificated security
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| 39
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| Warranties on redelivery of security certificate
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| 40
| (1)
| Broker's warranties to issuer and purchaser
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| (2)
| Broker's warranties to customer on delivery of security certificate
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| (3)
| Broker's warranties to registered owner of uncertificated security
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| (4)
| Additional warranties
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| DIVISION 7
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| WARRANTIES APPLICABLE TO INDIRECT HOLDINGS
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| 41
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| Warranties on entitlement order
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| 42
| (1)
| Warranties on security credited to securities account
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| (2)
| Warranties on uncertificated security credited to securities account
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| 43
| (1)
| Securities intermediary's warranties re security certificate
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| (2)
| Securities intermediary's warranties re uncertificated security
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| DIVISION 8
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| CONFLICT OF LAWS
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| 44
| (1)
| Law governing validity of security
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| (2)
| Law governing other matters re securities
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| (3)
| Issuer may specify law of another jurisdiction
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| (4)
| Law governing enforceability of security
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| (5)
| Definition
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| 45
| (1)
| Matters governed by law of securities intermediary's jurisdiction
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| (2)
| Definition
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| (3)
| Matters not to be taken into account
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| 46
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| Adverse claim governed by law of jurisdiction of security certificate
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| DIVISION 9
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| SEIZURE
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| 47
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| Seizure governed by laws re civil enforcement of judgments
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| 48
| (1)
| Seizure of interest in certificated security
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| (2)
| Exception
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| 49
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| Seizure of interest in uncertificated security
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| 50
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| Seizure of interest in security entitlement
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| 51
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| Notice of seizure to secured party
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| DIVISION 10
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| ENFORCEABILITY OF CONTRACTS AND RULES OF EVIDENCE
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| 52
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| Enforceability of contracts
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| 53
| (1)
| Rules of evidence re certificated security
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| (2)
| Admission of signatures
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| (3)
| Burden of establishing signature
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| (4)
| Recovery on certificate
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| (5)
| Establishing that defence or defect cannot be asserted
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| (6)
| Definitions
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| DIVISION 11
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| SECURITIES INTERMEDIARIES — LIABILITY AND STATUS AS PURCHASERS FOR VALUE
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| 54
| (1)
| Securities intermediary's liability to adverse claimant
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| (2)
| Broker, agent or bailee's liability to adverse claimant
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| (3)
| Exception
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| 55
| (1)
| Securities intermediary as purchaser for value
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| (2)
| Acquiring security entitlement for value
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| PART 3
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| ISSUE AND ISSUER
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| 56
| (1)
| Terms of a security: certificated security
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| (2)
| Reference to another instrument, etc.
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| (3)
| Terms of a security: uncertificated security
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| 57
| (1)
| Enforcement of security: unauthorized signature
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| (2)
| Defect going to validity
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| (3)
| Exception
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| 58
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| Lack of genuineness of certificated security
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| 59
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| Other defences
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| 60
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| Right to cancel contract
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| 61
| (1)
| Staleness as notice of defect or defence
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| (2)
| Exception
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| 62
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| Effect of issuer's restriction on transfer
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| 63
| (1)
| Completion of security certificate
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| (2)
| Enforceability of improperly altered complete security certificate
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| 64
| (1)
| Rights and duties of issuer re registered owners
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| (2)
| Liability of registered owner
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| 65
| (1)
| Warranties by person signing security certificate
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| (2)
| Limitation
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| 66
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| Issuer's lien
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| 67
| (1)
| Overissue
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| (2)
| Identical security reasonably available for purchase
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| (3)
| Identical security not reasonably available for purchase
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| (4)
| Overissue deemed not to have occurred
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| PART 4
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| TRANSFER OF CERTIFICATED AND UNCERTIFICATED SECURITIES
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| DIVISION 1
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| DELIVERY AND RIGHTS OF PURCHASER
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| 68
| (1)
| Delivery of certificated security
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| (2)
| Delivery of uncertificated security
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| 69
| (1)
| Rights of purchaser
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| (2)
| Purchaser of limited interest
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| (3)
| Previous holder with notice of adverse claim
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| 70
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| Protected purchaser
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| DIVISION 2
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| ENDORSEMENTS AND INSTRUCTIONS
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| 71
| (1)
| Form of endorsement
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| (2)
| Endorsement in blank
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| (3)
| Special endorsement
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| (4)
| Conversion from blank to special
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| 72
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| Endorsement of part of a security certificate
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| 73
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| When endorsement constitutes transfer of security
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| 74
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| Endorsement missing
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| 75
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| Notice of adverse claim on endorsement
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| 76
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| Obligations of endorser
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| 77
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| Completion of instruction
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| 78
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| Obligations of person originating an instruction
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| DIVISION 3
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| SIGNATURE GUARANTEES AND OTHER REQUISITES FOR REGISTRATION OF TRANSFER
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| 79
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| Warranties by guarantor of endorser's signature
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| 80
| (1)
| Warranties by guarantor of signature of originator of instruction
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| (2)
| Limitation
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| 81
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| Warranties by special guarantor of signature of originator of instruction
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| 82
| (1)
| Warranty re rightfulness of transfer by guarantor
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| (2)
| Warranties by guarantor of endorsement of security certificate
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| (3)
| Warranties by guarantor of instruction re transfer of uncertificated security
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| 83
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| Guarantee may not be condition to registration of transfer
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| 84
| (1)
| Liability of guarantor
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| (2)
| Liability of endorser or originator
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| 85
| (1)
| Purchaser's right to requisites for registration of transfer
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| (2)
| Exception
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| (3)
| Transferor's failure to comply
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| PART 5
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| REGISTRATION
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| 86
| (1)
| Duty of issuer to register transfer
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| (2)
| Liability of issuer
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| 87
| (1)
| Assurances re endorsement or instruction
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| (2)
| Reasonable assurance beyond requirements
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| (3)
| Definitions
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| (4)
| Standards re responsibility
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| 88
| (1)
| Demand that issuer not register transfer
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| (2)
| Effectiveness of demand
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| 89
| (1)
| Duty of issuer re demand to not register transfer
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| (2)
| Substance of notice
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| (3)
| Time limit for withholding registration of transfer
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| 90
| (1)
| Liability of issuer re demand to not register transfer
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| (2)
| No relief from liability
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| 91
| (1)
| Wrongful registration of transfer
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| (2)
| Liability
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| (3)
| Overissue
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| (4)
| Limitation
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| 92
| (1)
| Replacement of lost, destroyed or wrongfully taken security certificate
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| (2)
| Protected purchaser presents certificate after replacement issued
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| 93
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| Obligation to notify issuer of lost, destroyed or wrongfully taken security certificate
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| 94
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| Obligation of authenticating trustee, registrar, transfer agent or other agent
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| PART 6
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| SECURITY ENTITLEMENTS
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| 95
| (1)
| Acquisition of security entitlement
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| (2)
| Acquisition where securities intermediary does not hold financial asset
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| (3)
| Holding financial asset directly
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| (4)
| Issuance of security
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| 96
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| Protection of entitlement holders from adverse claim
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| 97
| (1)
| Property interest of entitlement holders in financial asset
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| (2)
| Proportionate interest
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| (3)
| Enforcement of property interest against securities intermediary
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| (4)
| Enforcement of property interest against purchaser
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| (5)
| Recovery by trustee or liquidator
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| (6)
| Recovery by entitlement holder
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| (7)
| Protection of purchaser for value
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| 98
| (1)
| Duty of securities intermediary re financial asset
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| (2)
| Maintaining financial assets
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| (3)
| No granting of security interests
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| (4)
| Standard of care
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| (5)
| Exception
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| 99
| (1)
| Duty of securities intermediary re payments and distributions
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| (2)
| Obligation to entitlement holder
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| (3)
| Standard of care
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| 100
| (1)
| Duty of securities intermediary to exercise rights
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| (2)
| Standard of care
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| 101
| (1)
| Duty of securities intermediary to comply with entitlement order
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| (2)
| Liability if financial asset wrongly transferred
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| (3)
| Liability for damages
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| (4)
| Standard of care
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| 102
| (1)
| Duty of securities intermediary re entitlement holder's direction
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| (2)
| Standard of care
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| 103
| (1)
| Duties of securities intermediary — general
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| (2)
| Limits on securities intermediary's duties
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| (3)
| Actions prohibited by law
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| (4)
| Commercially reasonable standard
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| 104
| (1)
| Rights of purchaser re adverse claim
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| (2)
| Protection of purchaser from adverse claim
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| (3)
| Priority rules
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| (4)
| Priority of securities intermediary as purchaser
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| 105
| (1)
| Priority of entitlement holders to financial asset
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| (2)
| When creditor has priority
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| (3)
| When creditor has priority over entitlement holder
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| 106 to 137
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| PART 9
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| C.C.S.M. REFERENCE AND COMING INTO FORCE
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| 138
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| C.C.S.M. reference
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| 139
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| Coming into force
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