18 (1) The Minister may make orders cancelling encumbrances against forfeited corporate property that, (a) were enforceable and valid in respect of the property before it became forfeited corporate property; or (b) are deemed to be enforceable and valid in respect of the property under subsection 11 (7). 2015, c. 38, Sched. 7, s. 18 (1). Same (2) An order cancelling an encumbrance may include the following: 1. If the encumbrance is registered on title to real property, direction to delete specified documents from the title. 2. If the encumbrance is against personal property and a registration was made in respect of the encumbrance in the registration system established under the Personal Property Security Act, direction to amend the information recorded in the central file of the registration system in a specified manner. 3. In the prescribed circumstances, direction to amend or delete information recorded in any other prescribed public registry. 2015, c. 38, Sched. 7, s. 18 (2). Application (3) For greater certainty, an encumbrance referred to in clause (1) (a) includes an encumbrance against forfeited corporate property that was enforceable and valid in respect of the property before section 2 came into force. 2015, c. 38, Sched. 7, s. 18 (3). Limitation, cancellation of restrictive covenants (4) The Minister may make an order under this section cancelling a restrictive covenant in respect of forfeited corporate real property only if, in the opinion of the Minister, the restrictive covenant may, (a) reduce the value or marketability of the property or limit the use of the property; or (b) otherwise affect the Minister’s ability to manage or dispose of the property. 2015, c. 38, Sched. 7, s. 18 (4). Timing of order (5) An order under this section shall not be made before the third anniversary of the prior corporate owner’s dissolution if it was dissolved under any of the following provisions: 1. Subsection 241 (4) of the Business Corporations Act or any predecessor of it. 2. Subsection 317 (9) of the Corporations Act or any predecessor of it. 3. Subsection 170 (2) of the Not-for-Profit Corporations Act, 2010 or any predecessor of it. 2015, c. 38, Sched. 7, s. 18 (5) and 43 (1). Same (6) An order under this section shall not be made before the second anniversary of the prior corporate owner’s dissolution if it was a co-operative dissolved under subsection 167 (2) of the Co-operative Corporations Act or any predecessor of it. 2015, c. 38, Sched. 7, s. 18 (6). Order relating to real property (7) If the order is in respect of forfeited corporate real property, the Minister shall register the order on title to the property, and the documents specified in the order shall be deleted from title. 2015, c. 38, Sched. 7, s. 18 (7). Writ of execution (8) If the order affects a writ of execution, the Minister shall give a copy of the order to the sheriff for the territorial jurisdiction in which the forfeited corporate real property is located, along with a copy of any notification provided to execution creditors. 2015, c. 38, Sched. 7, s. 18 (8). Order relating to personal property (9) If the order is in respect of forfeited corporate personal property and the encumbrance cancelled by the order was registered in the registration system established under the Personal Property Security Act, the Minister shall give a copy of the order to the registrar of personal property security, who shall amend the information recorded in the central file of the registration system, in accordance with the order, to indicate that the registration is discharged or partially discharged. 2015, c. 38, Sched. 7, s. 18 (9). Minister to give copy, publish order (10) The Minister shall, (a) give a copy of the order to, (i) any person to whom notice was given under section 19 in respect of the property, (ii) any person who responded to the Minister under section 22 in respect of the property, and (iii) any other person who requests a copy; and (b) publish the order on a Government website or on another website available to the public. 2015, c. 38, Sched. 7, s. 18 (10). Effect of order (11) Despite any other Act, an order cancelling an encumbrance under this section terminates the right to enforce the encumbrance against the property or its proceeds, (a) in the case of an encumbrance registered on title to real property, as of the day the order is registered on title; and (b) in the case of any other encumbrance, as of the day the order is made. 2015, c. 38, Sched. 7, s. 18 (11). Exceptions (12) An order under this section does not have the effect of cancelling any of the following: 1. An interest of the Crown in right of Canada. 2. An interest of the Crown in right of Ontario. 3. An easement. 4. A party wall agreement. 5. An encroachment agreement. 6. An interest or title acquired by way of adverse possession before the property became forfeited corporate real property. 7. A debt owed by the prior corporate owner in respect of real property taxes. 8. A debt owed by the prior corporate owner in respect of property taxes within the meaning of the Provincial Land Tax Act, 2006. 9. An interest that the order specifies is not cancelled. 10. An interest prescribed for the purposes of this subsection. 2015, c. 38, Sched. 7, s. 18 (12). Section Amendments with date in force (d/m/y) 2015, c. 38, Sched. 7, s. 43 (1) - 19/10/2021