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

Section 57
Disposition versions

Full text
57. The following rules apply to a control agreement regarding an uncertificated security:
(1)  the issuer may not enter into a control agreement without the consent of the registered holder;
(2)  the issuer is not required to confirm the existence of a control agreement to a third person unless requested to do so by the registered holder;
(3)  the issuer is not required to enter into a control agreement even if the registered holder so requests; and
(4)  a purchaser who is party to a control agreement is considered to be the representative of the registered holder for the purposes of any instruction.
2008, c. 20, s. 57.
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