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

• 25. (1) The partners in a partnership or the members for the time being of an unincorporated association not being a partnership may be registered as owners of a bond under the firm name or the name of the association.

• (2) Where members for the time being of an unincorporated association have been registered as owners of a bond as provided in subsection (1), instruments of transfer, acquittances or other documents furnished under these Regulations by the duly authorized officers for the time being of the association shall, for the purposes of these Regulations, be binding on the members of the association.

26. Where bonds are registered as to principal and interest, nothing in these Regulations shall be deemed to require the Bank to make exchanges or registrations or to give effect to instruments of transfer in connection therewith during any period, which the Bank considers reasonable, immediately preceding the date of any interest payment on such bonds.

• 27. (1) Where a bond or an unmatured coupon belonging to a bond has been damaged, defaced or mutilated and all parts of the bond and all unmatured coupons belonging to it, if any, that, in the opinion of the Bank are material, have been surrendered to the Bank, the Bank may forthwith issue a new bond and appropriate coupons in place of them.

• (2) If all parts of a bond and unmatured coupons belonging to it, if any, mentioned in subsection (1), are not surrendered to the Bank, the Bank may, if in its opinion the missing parts are material, require an undertaking to indemnify in accordance with section 37 to be given to the Bank before a new bond is issued or the Bank may require that the bond and coupons be treated as destroyed, lost or stolen, as the case may be.

• 28. (1) Subject to this section, where

  • (a) it appears to the Bank that a bond and unmatured coupons attached to it, if any, have been destroyed, lost or stolen, and

  • (b) a bond of indemnity in accordance with section 38 is given to the Bank,

  the Bank may, in its discretion, issue a new bond and appropriate coupons in place of the bond and coupons that were destroyed, lost or stolen.

• (2) Before issuing a new bond pursuant to subsection (1), the Bank may, in its discretion, require that the following period shall elapse after notice is received by the Bank of the alleged destruction, loss or theft:

  • (a) six months, in the case of a destroyed bond;

  • (b) six months, in the case of a lost or stolen bond registered as to principal and interest and for which no instrument of transfer to bearer has been executed;

  • (c) one year, in the case of a lost or stolen bond registered as to principal and for which no instrument of transfer to bearer has been executed; or

  • (d) two years, in any other case.

• (3) Where it appears to the Bank that a bond has been destroyed, lost or stolen after it has been paid for by a subscriber and before it was received by him, the Bank may, in its discretion, waive the waiting period specified in subsection (1) and, where the subscriber is or was an employee of Her Majesty in right of Canada who purchased the bond under the Plan commonly known as the “Employees’ Instalment Purchase Plan”, the Bank, on instructions from the Deputy Minister of Finance, shall issue a new bond without requiring a bond of indemnity to be given to the Bank, but the Deputy Minister of Finance shall not issue such instructions unless the person to whom the new bond is to be issued gives to the Deputy Minister of Finance such information and material, including an undertaking to indemnify the Bank and the Government of Canada for any loss resulting from the issue of the new bond, as the Deputy Minister of Finance considers appropriate.

• (4) Where it appears to the Bank that a bond that has matured or has been called for payment before maturity has been destroyed, lost or stolen, the Bank may, if a bond of indemnity described in section 38 is given to it, pay to the owner, in redemption of the bond, an amount equal to the amount payable on maturity or on call, as the case may be.

• (5) Where a bond mentioned in subsection (3) is a bond of which a person is registered as owner as to principal, the bond, for the purposes of subsection 38 (2), shall be deemed to be a bond of which that person is registered as owner as to principal and interest.

• (6) Where a bond mentioned in subsection (3) is a bond of which a person is registered as owner as to principal, the bond shall, for the purposes of subsection 38(2), be deemed to be a bond of which that person is registered as owner as to principal and interest.

• (7) Where it appears to the Bank that a non-interest bearing certificate has been destroyed, lost or stolen, the Bank may, in its discretion, pay the redemption value of the certificate to the registered owner if he gives to the Bank an undertaking to indemnify in accordance with section 37.