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StatuteCanada Business Corporations Act

Section 72 — Canada Business Corporations Act: Right to reclaim possession

Text of the provision Official document

A person against whom the transfer of a security is wrongful for any reason, including incapacity, may against anyone except a bona fide purchaser reclaim possession of the security or obtain possession of any new security evidencing all or part of the same rights or claim damages. If the transfer of a security is wrongful by reason of an unauthorized endorsement, the owner may reclaim possession of the security or a new security even from a bona fide purchaser if the ineffectiveness of the purported endorsement may be asserted against such purchaser under section 68. The right to reclaim possession of a security may be specifically enforced, its transfer may be restrained and the security may be impounded or, in Quebec, sequestrated pending litigation.

Official source: laws-lois.justice.gc.ca

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Statutory text from an official public source. Informational content — does not replace advice from a qualified lawyer.