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C-41 - Trust Companies Act
Section 45
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45. The corporate powers of a trust company incorporated in virtue of this act or of an act of the Legislature shall lapse for non-user during two years from the date of the incorporation, except for the sole purpose of winding up its business.
The corporate powers of a trust company, incorporated by the Province in whatsoever manner, before the 1st of July, 1913 (the date of the coming into force of chapter 44 of the statutes of 1912, 2nd session), shall lapse for non-user for two years after such date except for the sole purpose of winding up its business, the whole without prejudice to special acts which may enact another mode whereby such powers shall lapse.
