Older Uniform Acts

Securities Transfer Act



DIVISION 5 - ENDORSEMENTS, INSTRUCTIONS AND ENTITLEMENT ORDERS

Effectiveness of endorsement, etc.


36    An endorsement, instruction or entitlement order is effective if
(a)    it is made by the appropriate person,
(b)    it is made by a person who has power under the law of agency to transfer the security or financial asset on behalf of the appropriate person, including,
  • (i)    in the case of an instruction referred to in subsection 31(1), the person who has control of the uncertificated security, or
  • (ii)    in the case of an entitlement order referred to in subsection 32(1), the person who has control of the security entitlement,
  • or
(c)    the appropriate person has ratified it or is otherwise precluded from asserting its ineffectiveness.

Endorsement, etc. made by representative

37    An endorsement, instruction or entitlement order made by a representative is effective even if
(a)    the representative has failed to comply with a controlling instrument or with the law of the jurisdiction governing the representative’s rights and duties, including any law requiring the representative to obtain court approval of the transaction, or
(b)    the representative’s action in making the endorsement, instruction or entitlement order or using the proceeds of the transaction is otherwise a breach of duty owed by the representative.

Endorsement, etc. remains effective

38    An endorsement, instruction or entitlement order made by a person as a representative is effective notwithstanding that the person is no longer serving in that capacity as a representative if
(a)    the security is registered in the name of or specially endorsed to that person described as a representative, or
(b)    the securities account is maintained in the name of that person described as a representative.
Date of effectiveness, re endorsement, etc.
39(1)    The effectiveness of an endorsement, instruction or entitlement order is determined as of the date that the endorsement, instruction or entitlement order is made.
(2)    An endorsement, instruction or entitlement order does not become ineffective by reason of any later change of circumstances.

Next Annual Meeting

2020 Annual Meeting

Place to be Announced

August 9 – 13, 2020