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A-6.001, r. 9 - Regulation respecting savings products

Section 64
Disposition versions

Full text
64. If a hypothecary creditor that is an authorized purchaser of the hypothecated security exercises the remedy of taking in payment, the hypothecary creditor, with the participant’s consent or pursuant to an irrevocable judgment, is entitled to have ownership of the security transferred in accordance with sections 37 to 44.
A hypothecary creditor who is not an authorized purchaser of the hypothecated security is entitled, with the consent of the participant or pursuant to an irrevocable judgment, to repayment of the principal and payment of any interest falling due in respect of the hypothecated security, if the security is repayable in advance of the maturity date.
O.C. 1129-2008, s. 64.
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