83 The Governor in Council may make regulations for carrying out the purposes and provisions of this Part and, without restricting the generality of the foregoing, may make regulations
(a) prescribing the qualifications of members of the Board and prohibiting the appointment of persons as members of the Board who do not meet those qualifications;
(b) prescribing, or prescribing the manner of selecting, persons or classes of persons from among whom members of the Board are to be appointed;
(c) prescribing regions for the purposes of this Part; and
(d) prescribing any other matter or thing that by this Part is to be prescribed.
PART VIIITransfers, Assignments and Registration
assignment of security interest
cession de sûreté
assignment of security interest means a notice of the assignment of a security interest or any part thereof in respect of which a security notice has been registered under this Part; (cession de sûreté)
court means, with respect to any frontier lands or any portion thereof, such superior court as may be prescribed and includes a judge thereof; (tribunal)
Deputy Registrar means
(a) in relation to any area in respect of which the Minister of Natural Resources has administrative responsibility for the natural resources therein, such person as that Minister may designate, and
(b) in relation to any area in respect of which the Minister of Indian Affairs and Northern Development has administrative responsibility for the natural resources therein, such person as that Minister may designate; (directeur adjoint)
discharge means a notice of the discharge of a security notice or postponement and includes a partial discharge; (mainlevée)
instrument means a discharge, postponement, security notice, transfer or an assignment of a security interest; (acte)
privilège de l’exploitant
operator’s lien means any charge on or right in relation to an interest or a share in an interest
(a) that arises under a contract
(i) to which the interest owner or holder of the interest or share is a party,
(ii) that provides for the operator appointed thereunder to carry out any work or activity related to the exploration for or the development or production of petroleum in the frontier lands to which the interest or share applies, and
(iii) that requires the interest owner or holder to make payments to the operator to cover all or part of the advances made by the operator in respect of the costs and expenses of such work or activity, and
(b) that secures the payments referred to in subparagraph (a)(iii); (privilège de l’exploitant)
cession de priorité
postponement means a document evidencing the postponement of a security notice or operator’s lien; (cession de priorité)
(b) in relation to any area in respect of which the Minister of Indian Affairs and Northern Development has administrative responsibility for the natural resources therein, such person as that Minister may designate; (directeur)
secured party means the person claiming a security interest under a security notice; (partie garantie)
security interest means any charge on or right in relation to an interest or a share in an interest that secures
(a) the payment of an indebtedness arising from an existing or future loan or advance of money,
(b) a bond, debenture or other security of a corporation, or
(c) the performance of the obligations of a guarantor under a guarantee given in respect of all or any part of an indebtedness referred to in paragraph (a) or all or any part of a bond, debenture or other security of a corporation,
and includes a security given under section 426 of the Bank Act, but does not include an operator’s lien; (sûreté)
security noticeVersion anglaise seulement
security notice means a notice of a security interest; (Version anglaise seulement)
transfer means a transfer of an interest or a share in an interest. (transfert)
Marginal note:Assignees deemed secured parties
(2) Where an assignment of security interest is registered under this Part, a reference in this Part to a secured party shall, in respect of the security notice to which the assignment of security interest relates, be read as a reference to the assignee named in the assignment of security interest.
- R.S., 1985, c. 36 (2nd Supp.), s. 84, c. 21 (4th Supp.), s. 3;
- 1991, c. 46, s. 587;
- 1994, c. 41, s. 17.
Transfer and Assignment
Marginal note:Notice of disposition of any interest
85 Where an interest holder of an interest or any share therein enters into an agreement or arrangement that is or may result in a transfer, assignment or other disposition of the interest or any share therein, the interest holder shall give notice of the agreement or arrangement to the Minister, together with a copy of the agreement or arrangement or, if the Minister approves, a summary of its terms and conditions or, on the request of the Minister, a copy of the agreement or arrangement.
86 and 86.1 [Repealed, 1993, c. 47, s. 4]
Marginal note:Establishment of register
Marginal note:Duties of Registrar and Deputy Registrar
(2) The Registrar and Deputy Registrar shall exercise such powers and perform such duties and functions in respect of the register and the system of registration established under this Part as may be prescribed.
Marginal note:Prohibition against registration of documents except instruments
Marginal note:Requirements of registration
(2) No instrument may be registered under this Part unless it has been submitted for registration in the form prescribed for that instrument, in such manner and containing such information as may be prescribed, and meets any other requirement for the registration thereof prescribed by this Act and the regulations.
89 [Repealed, 1993, c. 47, s. 5]
Marginal note:Requirements of registering security notice
Marginal note:Notice of official address
(2) No instrument may be registered under this Part unless a notice of official address for service in respect of that instrument is filed with the Registrar in prescribed form.
Marginal note:Revision of notice of official address
(3) The official address for service in respect of an instrument may be changed by filing with the Registrar another notice of official address for service, in prescribed form.
- Date modified: