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

Section 8 Disposition versions

2019-06-13

8. Clearing agencies are securities intermediaries within the meaning of this Act, as are dealers, banks, financial services cooperatives, trust companies authorized under the Trust Companies and Savings Companies Act (chapter S-29.02) and deposit institutions authorized under the Deposit Institutions and Deposit Protection Act (chapter I-13.2.2) as well as other persons that in the ordinary course of their business maintain securities accounts for others and are acting in that capacity.

A securities account is an account to which a financial asset is or may be credited in accordance with an agreement under which the securities intermediary maintaining the account undertakes to consider the account holder as being entitled to exercise the rights that constitute the financial asset.

2008, c. 20, s. 8; 2018, c. 23, s. 802.

2009-01-01

8. Clearing agencies are securities intermediaries within the meaning of this Act, as are dealers, banks, financial services cooperatives, trust companies, savings companies and other persons that in the ordinary course of their business maintain securities accounts for others and are acting in that capacity.

A securities account is an account to which a financial asset is or may be credited in accordance with an agreement under which the securities intermediary maintaining the account undertakes to consider the account holder as being entitled to exercise the rights that constitute the financial asset.

2008, c. 20, s. 8.