Evidence or Guarantee of Authority to Execute Instrument of Transfer
15. (1) Except as provided in subsections (2) and (3), where an instrument of transfer purports to have been signed by a person acting as an officer of a corporation registered as owner of a bond or by a person acting for or on behalf or in the place of the registered owner or as the personal representative of a deceased registered owner, the Bank is not required to give effect to it unless the resolution, power of attorney, partnership agreement, probate of a will, letters of administration or other document authorizing or evidencing the authority of the person so to act or a notarial or other authenticated copy of it acceptable to the Bank has been deposited with the Bank.
(2) The Bank may give effect to an instrument of transfer signed by a person mentioned in subsection (1) if a bank incorporated under the Bank Act or the Quebec Savings Banks Act or a financial institution approved by the Bank, in addition to guaranteeing his signature, has also guaranteed his authority to execute the instrument for or on behalf or in the place of the registered owner, the guarantee being in either of the following forms:
(a) “Signature of transferor and authority to sign guaranteed”; or
(b) “Transaction guaranteed”.
(3) Where an instrument of transfer purports to have been signed in the firm name only of a partnership or an unincorporated association not being a partnership, the Bank may give effect to it if the signature is guaranteed by a bank incorporated under the Bank Act or the Quebec Savings Banks Act or a financial institution approved by the Bank.
(4) Where a resolution, power of attorney, partnership agreement or other document or a copy thereof has been deposited with the Bank for the purposes of this section, the Bank may give full force and effect to it until written notice is received by the Bank that it has been revoked or the authority thereby conferred or evidenced has been terminated.
No Guarantee of Signature Required in Certain Cases
16. The Bank may give effect to an instrument of transfer although no guarantee of the signature of the person signing the instrument of transfer has been given, if
(a) he is known to an executive officer of the Bank in Ottawa and his signature is vouched for by such officer;
(b) he signs on behalf of an insurance company and his signature is vouched for by an officer of the Department of Insurance of the Government of Canada and is acceptable to the Bank;
(c) he is a member of Her Majesty’s naval, military or air forces and his signature is witnessed by the commanding officer of his unit or the officer under whose direct command he is serving;
(d) he is personally known to the agent at an agency of the Bank and his signature is witnessed and vouched for by the agent; or
(e) he is an officer of a trust company authorized to guarantee signatures under section 14 and he is an officer of the company authorized to execute such guarantees and instruments of transfer on behalf of the company.
Authentication of Signature Where Instrument of Transfer Executed Outside Canada
17. Where an instrument of transfer has been executed outside Canada in a country of the British Commonwealth or in a British colony or possession and where no guarantee of the signature of the person signing it can be obtained in accordance with section 14 and the signature is not vouched for or witnessed in accordance with paragraph 16(a), (b) or (c), the Bank may give effect to the instrument, if
(a) the signature of the person signing it is guaranteed by an incorporated bank; or
(b) the signature is certified in the manner provided in section 18.
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