Acts and Regulations

B-9.1 - Business Corporations Act

Section 48.1
Disposition versions

Full text
Registers, general
2023, c.2, s.37
48.1(1)A corporation may appoint an agent to maintain a central securities register and branch securities registers.
48.1(2)Subject to subsection 18(1.1), a central securities register shall be maintained by a corporation at its registered office or any other place in New Brunswick designated by the directors, and any branch securities register may be kept at any place in or outside of New Brunswick designated by the directors.
48.1(3)A branch securities register shall only contain particulars of securities issued or transferred at that branch.
48.1(4)Particulars of each issue or transfer of a security registered in a branch securities register shall also be kept in the corresponding central securities register.
48.1(5)Registration of the issue or transfer of a security or warrant of the corporation in the central securities register or in the branch security registers is a complete and valid registration for all purposes.
48.1(6)A corporation or a person appointed under section 48.2 is not required to produce
(a) any security certificate or warrant that is not in registered form, or
(b) any security certificate or warrant that is in registered form after six years,
(i) in the case of a security certificate, from the date of its cancellation,
(ii) in the case of a warrant, from the date of its transfer or exercise, whichever occurs first, or
(iii) in the case of a certificate representing a debt obligation, from the date of cancellation of the certificate.
2023, c.2, s.37