GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Bank Act — B-1.01 (a)
livestock includes (a) horses and other equines, (b) cattle, sheep, goats and other ruminants, and (c) swine, poultry, bees and fur-bearing animals; ( bétail )
Bank Act — B-1.01
manufacturer means any person who manufactures or produces by hand, art, process or mechanical means any goods, wares and merchandise and, without restricting the generality of the foregoing, includes a manufacturer of logs, timber or lumber, maltster, distiller, brewer, refiner and producer of petroleum, tanner, curer, packer, canner, bottler and a person who packs, freezes or dehydrates any goods, wares and merchandise; ( fabricant )
Bank Act — B-1.01
minerals includes base and precious metals, coal, salt and every other substance that is an article of commerce obtained from the earth by any method of extraction, but does not include hydrocarbons or any animal or vegetable substance other than coal; ( substances minérales )
Bank Act — B-1.01 (a)
products of agriculture includes (a) grain, hay, roots, vegetables, fruits, other crops and all other direct products of the soil, and (b) honey, livestock (whether alive or dead), dairy products, eggs and all other indirect products of the soil; ( produits agricoles )
Bank Act — B-1.01
products of aquaculture includes all cultivated aquatic plants and animals; ( produits aquicoles )
Bank Act — B-1.01 (a)
products of the forest includes (a) logs, pulpwood, piling, spars, railway ties, poles, pit props and all other timber, (b) boards, laths, shingles, deals, staves and all other lumber, bark, wood chips and sawdust and Christmas trees, (c) skins and furs of wild animals, and (d) maple products; ( produits de la forêt )
Bank Act — B-1.01
products of the quarry and mine includes stone, clay, sand, gravel, metals, ores, coal, salt, precious stones, metalliferous and non-metallic minerals and hydrocarbons, whether obtained by excavation, drilling or otherwise; ( produits des carrières et des mines )
Bank Act — B-1.01
products of the sea, lakes and rivers includes fish of all kinds, marine and freshwater organic and inorganic life and any substances extracted or derived from any water, but does not include products of aquaculture; ( produits aquatiques )
Bank Act — B-1.01
unperfected , in relation to a security interest, means that the security interest has not been registered in a public register maintained under the law under which the security interest is created, or has not been perfected or published by any other means recognized by that law, where the registration or other means of perfection or publication would have made the security interest effective against third parties or would have determined priorities in rank in respect of rights in, on or in respect of the property that is subject to the security interest; ( non parfaite )
Bank Act — B-1.01 (a)
warehouse receipt includes (a) any receipt given by any person for goods, wares and merchandise in the person’s actual, visible and continued possession as bailee thereof in good faith and not as the owner thereof, (b) receipts given by any person who is the owner or keeper of a harbour, cove, pond, wharf, yard, warehouse, shed, storehouse or other place for the storage of goods, wares and merchandise, for goods, wares and merchandise delivered to the person as bailee, and actually in the place or in one or more of the places owned or kept by the person, whether or not that person is engaged in other business, (c) receipts given by any person in charge of logs or timber in transit from timber limits or other lands to the place of destination of the logs or timber, (d) Lake Shippers’ Clearance Association receipts and transfer certificates, British Columbia Grain Shippers’ Clearance Association receipts and transfer certificates, and all documents recognized by the Canada Grain Act as elevator receipts, and (e) receipts given by any person for any hydrocarbons received by the person as bailee, whether the person’s obligation to restore requires delivery of the same hydrocarbons or may be satisfied by delivery of a like quantity of hydrocarbons of the same or a similar grade or kind. ( récépissé d’entrepôt )
Bank Act — B-1.01 427
orporate, the place at which a civil process in the province in which the loans or advances will be made can be served on the body corporate; ( principal établissement ) system of registration means all registers and other records required by subsection (4) to be prepared and maintained and any such system may be in a bound or loose-leaf form or in a photographic film form, or may be entered or recorded by any system of mechanical or electronic data processing or any other information storage device that is capable of reproducing any required information in intelligible written form within a reasonable time. ( archives ) Regulations (6) The Governor in Council may, for the purposes of this section, make regulations (a) respecting the practice and procedure for the operation of a system of registration, including registration of notices of intention, the cancellation of such registrations and access to the system of registration; (b) requiring the payment of fees relating to the system of registration and prescribing the amounts thereof; and (c) respecting any other matter necessary for the maintenance and operation of a system of registration. Priority of wages and money owing for perishable agricultural products (7) Despite subsection (2) and despite the fact that a notice of intention by a person giving security on property under this section has been registered under this section, if, under the Bankruptcy and Insolvency Act , a bankruptcy order is made against, or an assignment is made by, that person, (a) claims for wages, salaries or other remuneration owing in respect of the period of three months immediately preceding the making of the order or assignment, to employees of the person employed in connection with the business or farm in respect of which the property covered by the security was held or acquired by the person, and (b) claims of a grower or producer of products of agriculture for money owing by a manufacturer to the grower or producer for such products that were grown or produced by the grower or producer on land owned or leased by the grower or producer and that were delivered to the manufacturer during the period of six months immediately preceding the making of the order or assignment to the extent of the lesser of (i) the total amount of the claims of the grower or producer therefor, and (ii) the prescribed amount have priority over the rights of the bank in a security given to the bank under this section, in the order in which they are mentioned in this subsection, and if the bank takes possession or in any way disposes of the property covered by the security, the bank is liable for those claims to the extent of the net amount realized on the disposition of the property, after deducting the cost of realization, and the bank is subrogated in and to all the rights of the claimants to the extent of the amounts paid to them by the bank. (8) [Repealed, 1997, c. 15, s. 47] 1991, c. 46, s. 427; 1992, c. 27, s. 90; 1993, c. 6, s. 6(E), c. 28, s. 78; 1997, c. 15, s. 47; 1998, c. 36, s. 21; 2002, c. 7, s. 82(E); 2004, c. 25, s. 185; 2009, c. 15, s. 13
Bank Act — B-1.01
agency means, in a province, the office of the Bank of Canada or its authorized representative but does not include its Ottawa office, and in Yukon, the Northwest Territories and Nunavut means the office of the clerk of the court of each of those territories respectively; ( agence )
Bank Act — B-1.01
agent means the officer in charge of an agency, and includes any person acting for that officer; ( agent )
Bank Act — B-1.01 (a)
appropriate agency means (a) the agency for the province in which is located the place of business of the person by whom or on whose behalf a notice of intention is signed, (b) if that person has more than one place of business in Canada and the places of business are not in the same province, the agency for the province in which is located the principal place of business of that person, or (c) if that person has no place of business, the agency for the province in which the person resides, and in respect of any notice of intention registered before the day this Part comes into force, means the office in which registration was required to be made by the law in force at the time of such registration; ( agence appropriée )
Bank Act — B-1.01
notice of intention means a notice of intention in the prescribed form or in a form to the like effect, and includes a notice of intention registered before the day this Part comes into force, in the form and registered in the manner required by the law in force at the time of the registration of the notice of intention; ( préavis )
Bank Act — B-1.01 (a)
principal place of business means (a) in the case of a body corporate incorporated by or under an Act of Parliament or the legislature of a province, the place where, according to the body corporate’s charter, memorandum of association or by-laws, the head office of the body corporate in Canada is situated, and (b) in the case of any other body corporate, the place at which a civil process in the province in which the loans or advances will be made can be served on the body corporate; ( principal établissement )
Bank Act — B-1.01
system of registration means all registers and other records required by subsection (4) to be prepared and maintained and any such system may be in a bound or loose-leaf form or in a photographic film form, or may be entered or recorded by any system of mechanical or electronic data processing or any other information storage device that is capable of reproducing any required information in intelligible written form within a reasonable time. ( archives )
Bank Act — B-1.01 428
d when the security was given or that the person from whom security was taken under section 427 had when the security was given and that the person acquired thereafter. Duty to act honestly and in good faith (10) In connection with any sale of property by a bank pursuant to subsections (7) and (8) or pursuant to any agreement between the bank and the person by whom the security was given, the bank shall act honestly and in good faith and shall deal with the property in a timely and appropriate manner having regard to the nature of the property and the interests of the person by whom the security was given and, in the case of a sale pursuant to an agreement, shall give the person by whom the security was given reasonable notice of the sale except where the property is perishable and to do so might result in a substantial reduction in the value of the property. Duty to act expeditiously in respect of seized property (11) Subject to section 427 and this section and any agreement between the bank and the person by whom the property was given as security, where, pursuant to subsection 427(3), a bank takes possession of or seizes property given as security to the bank, the bank shall, as soon as is reasonably practical having regard to the nature of the property, sell the property or so much thereof as will enable it to satisfy the debt, liability, loan or advance, with interest and expenses, in relation to which the property was given as security. Goods manufactured from articles pledged (12) Where goods, wares and merchandise are manufactured or produced from goods, wares and merchandise, or any of them, mentioned in or covered by any warehouse receipt or bill of lading acquired and held by a bank or any security given to a bank under section 427, the bank has the same rights and powers in respect of the goods, wares and merchandise so manufactured or produced, as well during the process of manufacture or production as after the completion thereof, and for the same purposes and on the same conditions as it had with respect to the original goods, wares and merchandise. Subrogation of security (13) Where payment or satisfaction of any debt, liability, loan or advance in respect of which a bank has taken security under section 426, 427 or 435 is guaranteed by a third person and the debt, liability, loan or advance is paid or satisfied by the guarantor, the guarantor is subrogated in and to all of the powers, rights and authority of the bank under the security that the bank holds in respect thereof under sections 426, 427 and 435 and this section. Bank may assign its rights (14) A bank may assign to any person all or any of its rights and powers in respect of any property on which security has been given to it under paragraph 427(1)(i), (j), (k), (l), (m), (n), (o) or (p), whereupon that person has all or any of the assigned rights and powers of the bank under that security. 1991, c. 46, s. 428; 2001, c. 26, s. 275; 2012, c. 5, s. 38
Bank Act — B-1.01 429
Conditions under which bank may take security 429 (1) A bank shall not acquire or hold any warehouse receipt or bill of lading, or any security under section 427, to secure the payment of any debt, liability, loan or advance unless the debt, liability, loan or advance is contracted or made (a) at the time of the acquisition thereof by the bank, or (b) on the written promise or agreement that a warehouse receipt or bill of lading or security under section 427 would be given to the bank, in which case the debt, liability, loan or advance may be contracted or made before or at the time of or after that acquisition, and such debt, liability, loan or advance may be renewed, or the time for the payment thereof extended, without affecting any security so acquired or held. Exchange of one security for another (2) A bank may (a) on the shipment of any property for which it holds a warehouse receipt or any security under section 427, surrender the receipt or security and receive a bill of lading in exchange therefor; (b) on the receipt of any property for which it holds a bill of lading, or any security under section 427, surrender the bill of lading or security, store the property and take a warehouse receipt therefor, or ship the property, or part of it, and take another bill of lading therefor; (c) surrender any bill of lading or warehouse receipt held by it and receive in exchange therefor any security that may be taken under this Act; (d) when it holds any security under section 427 on grain in any elevator, take a bill of lading covering the same grain or grain of the same grade or kind shipped from that elevator, in lieu of that security, to the extent of the quantity shipped; and (e) when it holds any security whatever covering grain, take in lieu of that security, to the extent of the quantity covered by the security taken, a bill of lading or warehouse receipt for, or any document entitling it under the Canada Grain Act to the delivery of, the same grain or grain of the same grade or kind.
Bank Act — B-1.01 430
Loans to receiver, liquidator, etc. 430 A bank may lend money and make advances to a receiver, to a receiver and manager, to a liquidator appointed under any winding-up Act, or to a custodian, an interim receiver or a trustee under the Bankruptcy and Insolvency Act , if the receiver, receiver and manager, liquidator, custodian, interim receiver or trustee has been duly authorized or empowered to borrow, and, in making the loan or advance, and thereafter, the bank may take security, with or without personal liability, from the receiver, receiver and manager, liquidator, custodian, interim receiver or trustee to such an amount and on such property as may be directed or authorized by any court of competent jurisdiction. 1991, c. 46, s. 430; 1992, c. 27, s. 90
Bank Act — B-1.01 431
Securities may be sold 431 Securities acquired and held by a bank as security may, in case of default in the payment of the loan, advance or debt or in the discharge of the liability for the securing of which they were so acquired and held, be dealt with, sold and conveyed, in like manner as and subject to the restrictions under which a private individual might in like circumstances deal with, sell and convey the same, and the right to deal with and dispose of securities as provided in this section may be waived or varied by any agreement between the bank and the person by whom the security was given.
Bank Act — B-1.01 432
Rights in respect of personal property 432 The rights, powers and privileges that a bank is by this Act declared to have, or to have had, in respect of real property on which it has taken security, shall be held and possessed by it in respect of any personal property on which it has taken security.
Bank Act — B-1.01 433
Purchase of realty 433 A bank may purchase any real property offered for sale (a) under execution, or in insolvency, or under the order or decree of a court, or at a sale for taxes, as belonging to any debtor to the bank, (b) by a mortgagee or other encumbrancer, having priority over a mortgage or other encumbrance held by the bank, or (c) by the bank under a power of sale given to it for that purpose, notice of the sale by auction to the highest bidder having been first given by advertisement for four weeks in a newspaper published in the county or electoral district in which the property is situated, in cases in which, under similar circumstances, an individual could so purchase, without any restriction as to the value of the property that it may so purchase, and may acquire title thereto as any individual, purchasing at a sheriff’s sale or sale for taxes or under a power of sale, in like circumstances could do, and may take, have, hold and dispose of the property so purchased.
Bank Act — B-1.01 434
Bank may acquire absolute title 434 (1) A bank may acquire and hold an absolute title in or to real property affected by a mortgage or hypothec securing a loan or an advance made by the bank or a debt or liability to the bank, either by the obtaining of a release of the equity of redemption in the mortgaged property, or by procuring a foreclosure, or by other means whereby, as between individuals, an equity of redemption can, by law, be barred, or a transfer of title to real property can, by law, be effected, and may purchase and acquire any prior mortgage or charge on such property. No act or law to prevent (2) Nothing in any charter, Act or law shall be construed as ever having been intended to prevent or as preventing a bank from acquiring and holding an absolute title to and in any mortgaged or hypothecated real property, whatever the value thereof, or from exercising or acting on any power of sale contained in any mortgage given to or held by the bank, authorizing or enabling it to sell or convey any property so mortgaged.
Bank Act — B-1.01 435
Warehouse receipts and bills of lading 435 (1) A bank may acquire and hold any warehouse receipt or bill of lading as security for the payment of any debt incurred in its favour, or as security for any liability incurred by it for any person, in the course of its banking business. Effect of taking (2) Any warehouse receipt or bill of lading acquired by a bank under subsection (1) vests in the bank, from the date of the acquisition thereof, (a) all the right and title to the warehouse receipt or bill of lading and to the goods, wares and merchandise covered thereby of the previous holder or owner thereof; and (b) all the right and title to the goods, wares and merchandise mentioned therein of the person from whom the goods, wares and merchandise were received or acquired by the bank, if the warehouse receipt or bill of lading is made directly in favour of the bank, instead of to the previous holder or owner of the goods, wares and merchandise.
Bank Act — B-1.01 436
When previous holder is agent 436 (1) Where the previous holder of a warehouse receipt or bill of lading referred to in section 435 is a person (a) entrusted with the possession of the goods, wares and merchandise mentioned therein, by or by the authority of the owner thereof, (b) to whom the goods, wares and merchandise are, by or by the authority of the owner thereof, consigned, or (c) who, by or by the authority of the owner of the goods, wares and merchandise, is possessed of any bill of lading, receipt, order or other document covering the same, such as is used in the course of business as proof of the possession or control of goods, wares and merchandise, or as authorizing or purporting to authorize, either by endorsement or by delivery, the possessor of such a document to transfer or receive the goods, wares and merchandise thereby represented, a bank is, on the acquisition of that warehouse receipt or bill of lading, vested with all the right and title of the owner of the goods, wares and merchandise, subject to the right of the owner to have the same re-transferred to the owner if the debt or liability, as security for which the warehouse receipt or bill of lading is held by the bank, is paid. Possessor (2) For the purposes of this section, a person shall be deemed to be the possessor of goods, wares and merchandise, or a bill of lading, receipt, order or other document, (a) who is in actual possession thereof; or (b) for whom, or subject to whose control the goods, wares and merchandise are, or bill of lading, receipt, order or other document is, held by any other person.
Bank Act — B-1.01 436.1
Regulations — aircraft objects 436.1 (1) The Governor in Council may make regulations respecting the application of sections 426 to 436 to aircraft objects, including regulations (a) removing classes of aircraft objects from the application of those sections or reinstating their application to those classes of aircraft objects; and (b) eliminating rights and powers acquired under those sections in relation to aircraft objects. Definition of aircraft objects (2) In subsection (1), aircraft objects has the same meaning as in subsection 2(1) of the International Interests in Mobile Equipment (aircraft equipment) Act . 2005, c. 3, s. 10
Bank Act — B-1.01 437
Deposit acceptance 437 (1) A bank may, without the intervention of any other person, (a) accept a deposit from any person whether or not the person is qualified by law to enter into contracts; and (b) pay all or part of the principal of the deposit and all or part of the interest thereon to or to the order of that person. Exception (2) Paragraph (1)(b) does not apply if, before payment, the money deposited in the bank pursuant to paragraph (1)(a) is claimed by some other person (a) in any action or proceeding to which the bank is a party and in respect of which service of a writ or other process originating that action or proceeding has been made on the bank, or (b) in any other action or proceeding pursuant to which an injunction or order made by the court requiring the bank not to make payment of that money or make payment thereof to some person other than the depositor has been served on the bank, and, in the case of any such claim so made, the money so deposited may be paid to the depositor with the consent of the claimant or to the claimant with the consent of the depositor. Execution of trust (3) A bank is not bound to see to the execution of any trust to which any deposit made under the authority of this Act is subject. Payment when bank has notice of trust (4) Subsection (3) applies regardless of whether the trust is express or arises by the operation of law, and it applies even when the bank has notice of the trust if it acts on the order of or under the authority of the holder or holders of the account into which the deposit is made. 1991, c. 46, s. 437; 2001, c. 9, s. 111