Bank Act

Marginal note:Signatures on security certificate

• 86 (1) A security certificate shall be signed manually

  • (a) by at least one director or officer of the bank,

  • (b) by or on behalf of a registrar, transfer agent or branch transfer agent of the bank, or

  • (c) by a trustee who certifies it in accordance with a trust indenture,

  and any additional signatures required on a security certificate may be printed or otherwise mechanically produced thereon.

• Marginal note:No manual signature required

  (2) Notwithstanding subsection (1), a manual signature is not required on a security certificate representing a fractional share, on an option or a right to acquire a security or on a scrip certificate.

• Marginal note:Continuation of signature

  (3) Where a security certificate contains a printed or mechanically reproduced signature of a person, the bank may issue the security certificate, notwithstanding that the person has ceased to be a director or an officer of the bank, and the security certificate is as valid as if the person were a director or an officer at the date of its issue.