C-38 - Companies Act

Full text
198. (1)  Every company shall keep a register of mortgages, and enter therein all mortgages and charges specifically affecting property of the company, giving in each case a short description of the property mortgaged, the amount of the mortgage or charge, and (except in the case of debentures or other securities to order or to bearer) the names of the mortgagees or successors. In regard to hypothecs or other charges securing the payment of debentures or other securities payable to order or to bearer, it shall be sufficient to mention the name of the trustee in whose favour the hypothec is created.
(2)  If any director, officer or manager of the company knowingly and wilfully authorizes or permits the omission of an entry required to be made in pursuance of this section, he shall be liable to a fine of not more than $200.
R. S. 1964, c. 271, s. 194; 1990, c. 4, s. 302; 1999, c. 40, s. 70.
198. (1)  Every company shall keep a register of mortgages, and enter therein all mortgages and charges specifically affecting property of the company, giving in each case a short description of the property mortgaged or charged, the amount of the mortgage or charge, and (except in the case of debentures or other securities to order or to bearer) the names of the mortgagees or persons entitled thereto. In regard to hypothecs or other charges securing the payment of debentures or other securities payable to order or to bearer, it shall be sufficient to mention the name of the trustee in whose favour the hypothec is created.
(2)  If any director, manager or other officer of the company knowingly and wilfully authorizes or permits the omission of an entry required to be made in pursuance of this section, he shall be liable to a fine of not more than $200.
R. S. 1964, c. 271, s. 194; 1990, c. 4, s. 302.
198. (1)  Every company shall keep a register of mortgages, and enter therein all mortgages and charges specifically affecting property of the company, giving in each case a short description of the property mortgaged or charged, the amount of the mortgage or charge, and (except in the case of debentures or other securities to order or to bearer) the names of the mortgagees or persons entitled thereto. In regard to hypothecs or other charges securing the payment of debentures or other securities payable to order or to bearer, it shall be sufficient to mention the name of the trustee in whose favour the hypothec is created.
(2)  If any director, manager or other officer of the company knowingly and wilfully authorizes or permits the omission of an entry required to be made in pursuance of this section, he shall be liable on summary proceeding to a fine of not more than $200.
R. S. 1964, c. 271, s. 194.