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T-11.002 - Act respecting the transfer of securities and the establishment of security entitlements

Section 114
Disposition versions

Full text
114. The following rules apply to a control agreement relating to a security entitlement:
(1)  the securities intermediary may not enter into a control agreement without the prior consent of the entitlement holder;
(2)  the securities intermediary is not required to confirm the existence of a control agreement to a third person unless requested to do so by the entitlement holder;
(3)  the securities intermediary is not required to enter into a control agreement with the purchaser even if the entitlement holder so requests; and
(4)  a purchaser that is party to a control agreement is considered to be the representative of the entitlement holder for the purposes of any entitlement order.
2008, c. 20, s. 114.
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