April 22, 1918 (13th Parliament, 1st Session)

UNION

Charles Joseph Doherty (Minister of Justice and Attorney General of Canada)

Unionist

Hon. Mr. DOHERTY:

The amendment is to one of the sections of the Companies Act. That section requires that the original instruments creating mortgages and charges upon properties of the different companies concerned should be deposited with the Secretary of State. Several lawyers practising in the province of Quebec have called my attention to the fact that, inasmuch as in that province large numbers of these classes of deeds require for their validity to be executed notarially, it is not possible to comply with the provision of the statute as it now stands, the originals of the instruments, having, as is well known, to remain with the notary. The purpose of the amendment is to provide that in cases of that kind a notarially-certified copy of an authentic instrument of that nature may be deposited with the Secretary of State, and shall avail as the original for the purpose of the deposit.
There is also another amendrnent, to insert the word " hypothec." The section as it now stands provides for deeds of mortgage, etc. As in Quebec, many of these

charges are by hypothec, which is a different thing to a mortgage, it has been thought wise to insert the word " hypothec " also.
Motion agreed to and Bill read the first time.

Topic:   COMPANIES ACT AMENDMENT.
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