Trust and Loan Companies Act

Marginal note:Effect of writ, etc.

• 448 (1) Subject to subsections (3) and (4), the following documents are binding on property belonging to a person and in the possession of a company, or on money owing to a person by reason of a deposit account in a company, only if the document or a notice of it is served at the branch of the company that has possession of the property or that is the branch of account in respect of the deposit account, as the case may be:

  • (a) a writ or process originating a legal proceeding or issued in or pursuant to a legal proceeding;

  • (b) an order or injunction made by a court;

  • (c) an instrument purporting to assign, perfect or otherwise dispose of an interest in the property or the deposit account; or

  • (d) an enforcement notice in respect of a support order or support provision.

• Marginal note:Notices

  (2) Any notification sent to a company with respect to a customer of the company, other than a document referred to in subsection (1) or (3), constitutes notice to the company and fixes the company with knowledge of its contents only if sent to and received at the branch of the company that is the branch of account of an account held in the name of that customer.

• Marginal note:Notices: Minister of National Revenue

  (2.1) Despite subsections (1) and (2), a notice, demand, order or other document issued with respect to a customer of a company constitutes notice to the company and fixes the company with knowledge of its contents and, where applicable, is binding on property belonging to the customer and in the possession of the company or on money owing to the customer by reason of an account in the company, if it is sent to the branch of the company referred to in subsection (1) or (2), an office of the company referred to in paragraph (3)(a) or any other office agreed to by the company and the Minister of National Revenue and it relates to

  • (a) the administration of an Act of Parliament by the Minister of National Revenue; or

  • (b) the administration of an Act of the legislature of a province or legislation made by an aboriginal government, where the Minister or the Minister of National Revenue has entered into a tax collection agreement under an Act of Parliament with the government of the province or the aboriginal government.

• Marginal note:Exception

  (3) Subsections (1) and (2) do not apply in respect of an enforcement notice in respect of a support order or support provision if

  • (a) the enforcement notice, accompanied by a written statement containing the information required by the regulations, is served at an office of a company designated in accordance with the regulations in respect of a province; and

  • (b) the order or provision can be enforced under the laws of that province.

• Marginal note:Time of application

  (4) Subsection (3) does not apply in respect of an enforcement notice in respect of a support order or support provision until the second business day following the day of service referred to in that subsection.

• Marginal note:Regulations

  (5) The Governor in Council may make regulations

  • (a) respecting the designation by a company of a place, for the purpose of subsection (3), in any province for the service of enforcement notices in respect of support orders and support provisions;

  • (b) prescribing the manner in which a company shall publicize the locations of designated offices of the company; and

  • (c) respecting the information that must accompany enforcement notices in respect of support orders and support provisions.

• Marginal note:Definitions

  (6) The following definitions apply in this section.

  designated office

  designated office means a place designated in accordance with regulations made for the purpose of subsection (3). (bureau désigné)

  enforcement notice

  enforcement notice, in respect of a support order or support provision, means a garnishee summons or other instrument issued under the laws of a province for the enforcement of the support order or support provision. (avis d’exécution)

  support order

  support order means an order or judgment or interim order or judgment for family financial support. (ordonnance alimentaire)

  support provision

  support provision means a provision of an agreement relating to the payment of maintenance or family financial support. (disposition alimentaire)