Older Uniform Acts

Securities Transfer Act



PART 2 - GENERAL MATTERS CONCERNING SECURITIES AND FINANCIAL ASSETS

DIVISION 1 - RULES FOR DETERMINING WHETHER CERTAIN OBLIGATIONS AND INTERESTS ARE SECURITIES OR FINANCIAL ASSETS

Share of corporation, etc.


14    A share or similar equity interest issued by a corporation, business trust, or similar entity is a security for the purposes of this Act.
Mutual fund security
15(1)    A mutual fund security is a security for the purposes of this Act.
(2)    In this section,
(a)    “mutual fund security” means a share, unit or similar equity interest issued by an open-end mutual fund, but does not include an insurance policy, endowment policy or annuity contract issued by an insurance company;
(b)    “open-end mutual fund” means an entity that makes a distribution to the public of its shares, units or similar equity interests and that carries on the business of investing the consideration it receives for the equity interests it issues, and all or substantially all of those equity interests are redeemable on the demand of a holder or owner thereof.

Interests in partnerships, etc.

16(1)    An interest in a partnership or limited liability company is not a security for the purposes of this Act unless
(a)    that interest is dealt in or traded on securities exchanges or in securities markets,
(b)    the terms of that interest expressly provide that the interest is a security for the purposes of this Act, or
(c)    that interest is a mutual fund security within the meaning of section 15.
(2)    An interest in a partnership or limited liability company is a financial asset if the interest is held in a securities account.

Bills of exchange and promissory notes

17    A bill of exchange or a promissory note to which the Bills of Exchange Act (Canada) applies is not a security, but is a financial asset for the purposes of this Act if held in a securities account.

Depository bills and depository notes

18    A depository bill or a depository note to which the Depository Bills and Notes Act (Canada) applies is not a security, but is a financial asset for the purposes of this Act if held in a securities account.

Clearing agency options, etc.

19    An option or similar obligation, other than a commodity contract, issued by a clearing agency to its participants is not a security, but is a financial asset for the purposes of this Act.

Commodity contracts

20    A commodity contract is not a security or a financial asset for the purposes of this Act.

Next Annual Meeting

2020 Annual Meeting

Place to be Announced

August 9 – 13, 2020