10(1)Upon the coming into force of this section all business and assets including

10(2)Upon the coming into force of this section, the rights of a creditor whether secured or unsecured against the Fishermen’s Loan Board of New Brunswick and any rights accrued by or accruing to the Fishermen’s Loan Board of New Brunswick shall be unimpaired, and by virtue of the coming into force of this section the obligation of the Fishermen’s Loan Board of New Brunswick with regard to such right and the rights accrued by or accruing to the Fishermen’s Loan Board of New Brunswick shall be assumed by the Province; but nothing contained in this subsection shall be interpreted to give any unsecured creditor any security right or any secured creditor any greater security right than is possessed by such creditor of the date of coming into force of this section.

10(3)Upon the coming into force of this section all debts, liabilities, duties, benefits held by, and obligations of, the Fishermen’s Loan Board of New Brunswick including, without restricting the generality of the foregoing, guarantees, contracts of indemnity and benefits given are enforceable against the Province to the same extent as if they had been incurred or contracted by the Province.

10(4)No suit, action, appeal, application or other proceeding being carried on, or power, right or remedy being exercised by, the Fishermen’s Loan Board of New Brunswick shall be discontinued as a result of the coming into force of this section and section 11; but may be continued in the name of the Province and the Province shall have the same rights and be subject to the same liabilities and shall pay or receive the like costs, as if the suit, action, appeal, application or other proceeding had been commenced or defended in the name of the Province.

10(5)The Province may bring, maintain and exercise in its name any suit, action, appeal, application or other proceeding, or exercise any power, right or remedy that the Fishermen’s Loan Board of New Brunswick was, could have been or could have become entitled to bring, maintain or exercise.

10(6)Nothing in this section shall expose or cause the Province to be exposed to or to be liable for any greater liability, cost or expense than would have occurred had this section and section 11 not come into force.

10(7)Registration of the notice provided for in this subsection in a registry office under the Registry Act is sufficient notice to all persons of the matters dealt with in this Act.

10(8)The notice under subsection 10(7) shall be registered under the Registry Act in any registry office by the Registrar thereof upon it being tendered to him for registration and in the office of the Registrar under the Corporation Securities Registration Act.

10(9)For the purpose of any instrument required to be registered or filed under the Bills of Sale Act, Conditional Sales Act, Assignment of Book Debts Act or Corporation Securities Registration Act, it shall be sufficient in order to show the transmission of title in respect of any personal property or interest in personal property included or intended to be included in the Minister by virtue of this Act, if the instrument affecting such property or interest recites this Act.

10(1)Upon the coming into force of this section all business and assets including

10(2)Upon the coming into force of this section, the rights of a creditor whether secured or unsecured against the Fishermen’s Loan Board of New Brunswick and any rights accrued by or accruing to the Fishermen’s Loan Board of New Brunswick shall be unimpaired, and by virtue of the coming into force of this section the obligation of the Fishermen’s Loan Board of New Brunswick with regard to such right and the rights accrued by or accruing to the Fishermen’s Loan Board of New Brunswick shall be assumed by the Province; but nothing contained in this subsection shall be interpreted to give any unsecured creditor any security right or any secured creditor any greater security right than is possessed by such creditor of the date of coming into force of this section.

10(3)Upon the coming into force of this section all debts, liabilities, duties, benefits held by, and obligations of, the Fishermen’s Loan Board of New Brunswick including, without restricting the generality of the foregoing, guarantees, contracts of indemnity and benefits given are enforceable against the Province to the same extent as if they had been incurred or contracted by the Province.

10(4)No suit, action, appeal, application or other proceeding being carried on, or power, right or remedy being exercised by, the Fishermen’s Loan Board of New Brunswick shall be discontinued as a result of the coming into force of this section and section 11; but may be continued in the name of the Province and the Province shall have the same rights and be subject to the same liabilities and shall pay or receive the like costs, as if the suit, action, appeal, application or other proceeding had been commenced or defended in the name of the Province.

10(5)The Province may bring, maintain and exercise in its name any suit, action, appeal, application or other proceeding, or exercise any power, right or remedy that the Fishermen’s Loan Board of New Brunswick was, could have been or could have become entitled to bring, maintain or exercise.

10(6)Nothing in this section shall expose or cause the Province to be exposed to or to be liable for any greater liability, cost or expense than would have occurred had this section and section 11 not come into force.

10(7)Registration of the notice provided for in this subsection in a registry office under the Registry Act is sufficient notice to all persons of the matters dealt with in this Act.

10(8)The notice under subsection 10(7) shall be registered under the Registry Act in any registry office by the Registrar thereof upon it being tendered to him for registration and in the office of the Registrar under the Corporation Securities Registration Act.

10(9)For the purpose of any instrument required to be registered or filed under the Bills of Sale Act, Conditional Sales Act, Assignment of Book Debts Act or Corporation Securities Registration Act, it shall be sufficient in order to show the transmission of title in respect of any personal property or interest in personal property included or intended to be included in the Minister by virtue of this Act, if the instrument affecting such property or interest recites this Act.

10(1)Upon the coming into force of this section all business and assets including

10(2)Upon the coming into force of this section, the rights of a creditor whether secured or unsecured against the Fishermen’s Loan Board of New Brunswick and any rights accrued by or accruing to the Fishermen’s Loan Board of New Brunswick shall be unimpaired, and by virtue of the coming into force of this section the obligation of the Fishermen’s Loan Board of New Brunswick with regard to such right and the rights accrued by or accruing to the Fishermen’s Loan Board of New Brunswick shall be assumed by the Province; but nothing contained in this subsection shall be interpreted to give any unsecured creditor any security right or any secured creditor any greater security right than is possessed by such creditor of the date of coming into force of this section.

10(3)Upon the coming into force of this section all debts, liabilities, duties, benefits held by, and obligations of, the Fishermen’s Loan Board of New Brunswick including, without restricting the generality of the foregoing, guarantees, contracts of indemnity and benefits given are enforceable against the Province to the same extent as if they had been incurred or contracted by the Province.

10(4)No suit, action, appeal, application or other proceeding being carried on, or power, right or remedy being exercised by, the Fishermen’s Loan Board of New Brunswick shall be discontinued as a result of the coming into force of this section and section 11; but may be continued in the name of the Province and the Province shall have the same rights and be subject to the same liabilities and shall pay or receive the like costs, as if the suit, action, appeal, application or other proceeding had been commenced or defended in the name of the Province.

10(5)The Province may bring, maintain and exercise in its name any suit, action, appeal, application or other proceeding, or exercise any power, right or remedy that the Fishermen’s Loan Board of New Brunswick was, could have been or could have become entitled to bring, maintain or exercise.

10(6)Nothing in this section shall expose or cause the Province to be exposed to or to be liable for any greater liability, cost or expense than would have occurred had this section and section 11 not come into force.

10(7)Registration of the notice provided for in this subsection in a registry office under the Registry Act is sufficient notice to all persons of the matters dealt with in this Act.

10(8)The notice under subsection 10(7) shall be registered under the Registry Act in any registry office by the Registrar thereof upon it being tendered to him for registration and in the office of the Registrar under the Corporation Securities Registration Act.

10(9)For the purpose of any instrument required to be registered or filed under the Bills of Sale Act, Conditional Sales Act, Assignment of Book Debts Act or Corporation Securities Registration Act, it shall be sufficient in order to show the transmission of title in respect of any personal property or interest in personal property included or intended to be included in the Minister by virtue of this Act, if the instrument affecting such property or interest recites this Act.