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ARTICLE · 31 MARCH 2009

The New Quebec Securities Transfer Legislation Is Now In Force: Should Your Security Be Revisited?

Blake, Cassels & Graydon LLP
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an act respecting the transfer of securities and the establishment of security entitlements: reminder regarding existing security

CanadaFinance and Banking
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Viorelia Guzun
Viorelia Guzun
Sébastien Vilder
Sébastien Vilder
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Copyright 2009, Blake, Cassels & Graydon LLP

Originally published in Blakes Bulletin on Financial Services, March 2009

AN ACT RESPECTING THE TRANSFER OF SECURITIES AND THE ESTABLISHMENT OF SECURITY ENTITLEMENTS: REMINDER REGARDING EXISTING SECURITY

One of the goals of the new regulation amending the Regulation respecting the register of personal and movable real rights (the Regulation), in connection with an Act respecting the transfer of securities and the establishment of security entitlements (Quebec) (the Act), is to allow individual debtors not acting in a business context to grant a hypothec on a universality of present and future securities or security entitlements. Given that the Act and the amended Regulation are now in force, we take this opportunity to bring to your attention that certain changes enacted by the Act could jeopardize, in certain situations, the ranking and opposability of hypothecs on securities and security entitlements or other

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