83(1)A company incorporated by letters patent or under special Act of the Legislature may, with the approval of a Judge given after hearing such parties as he thinks necessary to be heard, and with the consent of the Lieutenant-Governor in Council, deposit with the Minister of Finance and Treasury Board a sum of money or bonds or debentures of the Province, or of Canada, sufficient to provide for the retirement at maturity of any bonds or debentures issued by such company and for all interest accruing until such maturity.

83(2)Upon the deposit being made and the Judge and the Lieutenant-Governor in Council being satisfied that the sum of money or bonds or debentures deposited is adequate to provide for the retirement of such bonds or debentures at maturity, and that such sum with the interest thereon, and such bonds or debentures with the income thereof, are sufficient to provide for all interest accruing on the company’s bonds or debentures until maturity, the Lieutenant-Governor in Council may grant a certificate of such deposit under the hand and seal of the Minister of Finance and Treasury Board, which certificate shall recite the fact of such deposit being made.

83(3)The Judge is thereupon empowered to order and declare that the real and personal property of the company mortgaged as security therefor, is freed and discharged from such mortgage.

83(4)The order of the Judge may be registered in the registry office in any county where the company has property subject to such mortgage.

83(5)Upon the filing of the order in the registry office where the mortgage is filed as a bill of sale, all personal property covered by the mortgage, or bill of sale by way of mortgage, securing such bonds or debentures, and upon the registration of the order, all real estate of such company covered by such mortgage in the county where such order is registered is freed and discharged from the operation thereof.

83(6)If the mortgage is a trust mortgage for the purpose of securing an issue of bonds, the trustee for the bondholders may, upon production of such order made by the said judge, execute a release of the mortgaged property from the said mortgage which likewise may be entered of registry, and the mortgage may be delivered up by the trustee to the company and cancelled.

83(7)The Province shall receive such remuneration, for the services to be performed by the Department of Finance and Treasury Board under this section, as may be determined by the Lieutenant-Governor in Council.

83(8)Upon the application of a company having made a deposit pursuant to subsection (1), the Lieutenant-Governor in Council may permit the exchange of all or any of the money, bonds or debentures deposited by the company for all or any of the outstanding bonds or debentures of the company in respect of which the deposit was made, and as a condition of the exchange may require the payment or cause to be paid such adjustment of principal or interest as the Lieutenant-Governor in Council deems advisable, and any such bonds or debentures so exchanged for money, bonds or debentures held by the Lieutenant-Governor in Council on deposit shall forthwith be cancelled.

83(1)A company incorporated by letters patent or under special Act of the Legislature may, with the approval of a Judge given after hearing such parties as he thinks necessary to be heard, and with the consent of the Lieutenant-Governor in Council, deposit with the Minister of Finance a sum of money or bonds or debentures of the Province, or of Canada, sufficient to provide for the retirement at maturity of any bonds or debentures issued by such company and for all interest accruing until such maturity.

83(2)Upon the deposit being made and the Judge and the Lieutenant-Governor in Council being satisfied that the sum of money or bonds or debentures deposited is adequate to provide for the retirement of such bonds or debentures at maturity, and that such sum with the interest thereon, and such bonds or debentures with the income thereof, are sufficient to provide for all interest accruing on the company’s bonds or debentures until maturity, the Lieutenant-Governor in Council may grant a certificate of such deposit under the hand and seal of the Minister of Finance, which certificate shall recite the fact of such deposit being made.

83(3)The Judge is thereupon empowered to order and declare that the real and personal property of the company mortgaged as security therefor, is freed and discharged from such mortgage.

83(4)The order of the Judge may be registered in the registry office in any county where the company has property subject to such mortgage.

83(5)Upon the filing of the order in the registry office where the mortgage is filed as a bill of sale, all personal property covered by the mortgage, or bill of sale by way of mortgage, securing such bonds or debentures, and upon the registration of the order, all real estate of such company covered by such mortgage in the county where such order is registered is freed and discharged from the operation thereof.

83(6)If the mortgage is a trust mortgage for the purpose of securing an issue of bonds, the trustee for the bondholders may, upon production of such order made by the said judge, execute a release of the mortgaged property from the said mortgage which likewise may be entered of registry, and the mortgage may be delivered up by the trustee to the company and cancelled.

83(7)The Province shall receive such remuneration, for the services to be performed by the Department of Finance under this section, as may be determined by the Lieutenant-Governor in Council.

83(8)Upon the application of a company having made a deposit pursuant to subsection (1), the Lieutenant-Governor in Council may permit the exchange of all or any of the money, bonds or debentures deposited by the company for all or any of the outstanding bonds or debentures of the company in respect of which the deposit was made, and as a condition of the exchange may require the payment or cause to be paid such adjustment of principal or interest as the Lieutenant-Governor in Council deems advisable, and any such bonds or debentures so exchanged for money, bonds or debentures held by the Lieutenant-Governor in Council on deposit shall forthwith be cancelled.

83(1)A company incorporated by letters patent or under special Act of the Legislature may, with the approval of a Judge given after hearing such parties as he thinks necessary to be heard, and with the consent of the Lieutenant-Governor in Council, deposit with the Minister of Finance a sum of money or bonds or debentures of the Province, or of Canada, sufficient to provide for the retirement at maturity of any bonds or debentures issued by such company and for all interest accruing until such maturity.

83(2)Upon the deposit being made and the Judge and the Lieutenant-Governor in Council being satisfied that the sum of money or bonds or debentures deposited is adequate to provide for the retirement of such bonds or debentures at maturity, and that such sum with the interest thereon, and such bonds or debentures with the income thereof, are sufficient to provide for all interest accruing on the company’s bonds or debentures until maturity, the Lieutenant-Governor in Council may grant a certificate of such deposit under the hand and seal of the Minister of Finance, which certificate shall recite the fact of such deposit being made.

83(3)The Judge is thereupon empowered to order and declare that the real and personal property of the company mortgaged as security therefor, is freed and discharged from such mortgage.

83(4)The order of the Judge may be registered in the registry office in any county where the company has property subject to such mortgage.

83(5)Upon the filing of the order in the registry office where the mortgage is filed as a bill of sale, all personal property covered by the mortgage, or bill of sale by way of mortgage, securing such bonds or debentures, and upon the registration of the order, all real estate of such company covered by such mortgage in the county where such order is registered is freed and discharged from the operation thereof.

83(6)If the mortgage is a trust mortgage for the purpose of securing an issue of bonds, the trustee for the bondholders may, upon production of such order made by the said judge, execute a release of the mortgaged property from the said mortgage which likewise may be entered of registry, and the mortgage may be delivered up by the trustee to the company and cancelled.

83(7)The Province shall receive such remuneration, for the services to be performed by the Department of Finance under this section, as may be determined by the Lieutenant-Governor in Council.

83(8)Upon the application of a company having made a deposit pursuant to subsection (1), the Lieutenant-Governor in Council may permit the exchange of all or any of the money, bonds or debentures deposited by the company for all or any of the outstanding bonds or debentures of the company in respect of which the deposit was made, and as a condition of the exchange may require the payment or cause to be paid such adjustment of principal or interest as the Lieutenant-Governor in Council deems advisable, and any such bonds or debentures so exchanged for money, bonds or debentures held by the Lieutenant-Governor in Council on deposit shall forthwith be cancelled.