Domestic Bonds of Canada Regulations (C.R.C., c. 698)

• 6. (1) Where, in accordance with these Regulations, the name of a person has been entered in the register by the Bank as owner of a bond as to principal or as to principal and interest, the entry in the register shall, except as otherwise provided in these Regulations, be conclusive evidence as against the Government of Canada that that person is owner of that bond.

• (2) Where, in accordance with these Regulations, the name of a person is entered in the register as owner of a bond as to principal and interest, the interest on that bond is payable by a cheque negotiable at any branch in Canada of a bank incorporated under the Bank Act.

• (3) Where the names of two or more persons without the words “and survivor”, are entered in the register as owners of a bond and one of the persons dies, his rights under the bond are not vested in any other such person or persons on his death by reason of survivorship.

• (4) Notwithstanding that the name of a person is entered in the register as owner of a bond as to principal, the coupons attached to the bond are payable to bearer and when detached are transferable by delivery.

• 7. (1) Where a bond is issued or registered, such issue or registration shall be deemed to be valid notwithstanding that

  • (a) the issue or registration takes place in error in circumstances in which such issue or registration is not authorized by these Regulations, or

  • (b) the issue or registration takes place pursuant to an instrument of transfer in which the signature of the transferor has been forged or pursuant to a forged instrument purporting to authorize a person to act on behalf of or in the place of a registered owner as provided for in section 15,

  but nothing in this section shall be deemed to affect the rights or liabilities of any person by reason of the forged instrument.

• (2) Where in error a bond is issued or registered in circumstances in which such issue or registration is not authorized by these Regulations and the bond has been delivered, the person receiving the bond or registered as owner thereof shall not be entitled as against the Government of Canada to any payment under the bond but shall be liable to return the bond and all coupons attached to it at the time it was delivered to him and if he fails to do so he shall be liable to pay to the Bank the market value of the bond together with an amount equal to any amounts paid to him by way of interest on the bond.

• (3) Where a person mentioned in subsection (2) fails to return matured coupons to the Bank, he shall be deemed to have received payment of the redemption value of the coupons.

8. Where the name of a person has been entered in the register by the Bank as owner of a bond

• (a) registered as to principal, the Bank shall enter his name in the bond as the person to whom the principal is payable; or

• (b) registered as to principal and interest, the Bank shall enter his name in the bond as the person to whom the principal and interest are payable.

9. No entry in a bond of the name of any person as the person to whom the principal is payable or the principal and interest are payable made by a person other than the Bank is effective to confer any right under or interest in the bond.