T-12 - Transport Act

Section 41 Disposition versions

1999-04-01

41. The transfer, in any form, by a carrier, of the ownership or control of a means of transport or a transport system that he operates by virtue of a permit does not effect the transfer of such permit unless the assigning party or the transferee of such means of transport or transport system applies to the Commission for the transfer of such permit, and obtains such transfer from it.

The Commission may, even if there is no regulation applicable, maintain, change, transfer or cancel a permit, in the case of a transfer of ownership or the change of control of a means of transport or a transport system.

1972, c. 55, s. 36; 1975, c. 45, s. 18, s. 39; 1981, c. 8, s. 14.

1977-12-31

41. (1)  The transfer, in any form, by a carrier, of the ownership or control of a means of transport or a transport system that he operates by virtue of a permit, shall not effect the transfer of such permit unless the assigning party or the transferee of such means of transport or transport system applies to the Commission for the transfer of such permit, and obtains such transfer from it.

(2)  Any amalgamation effected by virtue of section 18 of the Companies Act (chapter C-38) or by virtue of a similar provision of an act of Canada or of another province, of the United States of America or any state thereof regarding one or more corporations holding a permit, shall not effect the transfer of such permit unless the new corporation applies to the Commission for the transfer of such permit and obtains such transfer from it.

(3)  The Commission may, if there is no regulation applicable, maintain, change, transfer or cancel a permit, in the case of a transfer of ownership or the change of control of a means of transport or a transport system or in the case of the change of control of a corporation holding a permit.

1972, c. 55, s. 36; 1975, c. 45, s. 18, s. 39.