Trust and Loan Companies Act

Marginal note:Return on unclaimed bills of exchange

• 497 (1) A company shall, within sixty days after the end of each calendar year, provide the Superintendent with a return, in such form as the Superintendent may determine, as of the end of that calendar year, in respect of all negotiable instruments (including instruments drawn by one branch of the company on another branch of the company but not including instruments issued in payment of a dividend on the capital of the company) payable in Canada in Canadian currency that have been issued, certified or accepted by the company at branches of the company in Canada and for which no payment has been made for a period of nine years or more calculated from the date of issue, certification, acceptance or maturity, whichever is the latest, until the date of the return.

• Marginal note:Content of return

  (2) A return made under subsection (1) shall show, in so far as is known to the company,

  • (a) the name of each person to whom or at whose request each instrument was issued, certified or accepted;

  • (b) the recorded address of each such person;

  • (c) the name of the payee of each instrument;

  • (d) the amount and date of each instrument;

  • (e) the name of the place where each instrument was payable; and

  • (f) the branch of the company at which each instrument was issued, certified or accepted.

• Marginal note:Amounts under one hundred dollars

  (3) Where the amount of an instrument in respect of which subsection (1) applies is less than one hundred dollars, the company may omit the particulars in respect thereof required by subsection (2) from the return required by subsection (1).

• Marginal note:Money orders

  (4) A company may omit from a return required by subsection (1) the particulars required by subsection (2) in respect of any money order in respect of which subsection (1) applies.

• Marginal note:Application of subsection (1)

  (5) Subsection (1) applies only in respect of negotiable instruments issued, certified or accepted after May 31, 1990.

• Marginal note:Application

  (6) This section does not apply until June 1, 1999.