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Canada Business Corporations Act

Version of section 60 from 2011-11-29 to 2024-06-19:

Marginal note:Title of purchaser

  •  (1) On delivery of a security the purchaser acquires the rights in the security that the transferor had or had authority to convey, except that a purchaser who has been a party to any fraud or illegality affecting the security or who as a prior holder had notice of an adverse claim does not improve their position by taking from a later bona fide purchaser.

  • Marginal note:Title of bona fide purchaser

    (2) A bona fide purchaser, in addition to acquiring the rights of a purchaser, also acquires the security free from any adverse claim.

  • Marginal note:Limitation of the purchase

    (3) A purchaser acquires rights only to the extent of the interest or right purchased.

  • R.S., 1985, c. C-44, s. 60
  • 2001, c. 14, s. 135(E)
  • 2011, c. 21, s. 33(E)

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