Government of Canada / Gouvernement du Canada
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Bank Act

Version of section 86 from 2003-01-01 to 2006-11-27:

Marginal note:Signatures on security certificate

  •  (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.

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