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

Section 94 Disposition versions

2016-01-01

94. An issuer is liable for wrongful registration of transfer.

Wrongful registration of transfer is registration of a transfer of a security to a person not entitled to the security when the transfer is registered by the issuer

(1)  under an ineffective endorsement or instruction;

(2)  without complying, in accordance with section 90, with an effective demand that the issuer not register the transfer which the issuer was under a duty to consider;

(3)  after the issuer had been notified with a judgment enjoining the issuer from registering the transfer and had a reasonable opportunity to abide by the judgment before registering the security; or

(4)  acting in collusion with the person who requested the registration.

2008, c. 20, s. 94; I.N. 2016-01-01 (NCCP).

2009-01-01

94. An issuer is liable for wrongful registration of transfer.

Wrongful registration of transfer is registration of a transfer of a security to a person not entitled to the security when the transfer is registered by the issuer

(1)  under an ineffective endorsement or instruction;

(2)  without complying, in accordance with section 90, with an effective demand that the issuer not register the transfer which the issuer was under a duty to consider;

(3)  after the issuer had been served with a judgment enjoining the issuer from registering the transfer and had a reasonable opportunity to abide by the judgment before registering the security; or

(4)  acting in collusion with the person who requested the registration.

2008, c. 20, s. 94.