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

Section 43
Disposition versions

Full text
43. An endorsement, instruction or entitlement order made by a representative is effective even if
(1)  the representative has failed to comply with the instrument granting the representative authority or with the law governing the representative’s rights and duties, including any provisions requiring the representative to obtain court approval of the transfer or redemption; or
(2)  the representative’s action in making the endorsement, instruction or entitlement order or using the proceeds of the transaction is otherwise a breach of duty owed by the representative.
2008, c. 20, s. 43.
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