V-1 - Securities Act

Section 111 Disposition versions

1977-12-31

111. In the case of a company or person who in good faith and with an excuse deemed reasonable by the Commission, sold or otherwise disposed of shares of its capital stock or other securities without having applied for the permission and registration then required by law, the Commission may grant it or him permission and registration to avail as if such permission and registration had been allowed at the time of the sale or disposal of such shares or other securities.

However, the Commission must not grant such registration if it is of the opinion that the company would have had to be denied the registration then required by law if it had applied for the same.

R. S. 1964, c. 274, s. 93; 1971, c. 77, s. 22.