CACERCanadian Energy Regulator Act, s. 341Primary legislationIn force

Assets of company subject to executions

Section 341 of the Canadian Energy Regulator Act clarifies that the Act does not restrict financial or legal transactions involving company assets, including court-ordered asset sales, creation of liens, mortgages, and enforcement of security interests. Such transactions remain subject to applicable provincial laws where the property is located.

Last changed 6 hours ago.

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Assets of company subject to executions

341 (1) Nothing in this Act restricts or prohibits any of the following transactions: (a) the sale under execution of any property of a company; (b) the creation of any lien, mortgage, hypothec, charge or other security on the property of the company, or of any prior claim or right of retention within the meaning of the Civil Code of Québec or any other statute of Quebec with respect to property of the company; (c) the sale, elsewhere than in Quebec, under an order of a court of any property of the company to enforce or realize on any lien, mortgage, charge or other security on the property of the company; (d) the sale, in Quebec, under an order of a court or by judicial authority, of any property of the company to enforce or realize on any hypothec, charge or other security on the property of the company; and (e) the exercise of remedies for the enforcement and realization of any prior claim referred to in paragraph (b) or the exercise of any right of retention referred to in that paragraph. (2) A transaction mentioned in subsection (1) in respect of any property of a company is subject to the same laws to which it would be subject if the work and undertaking of the company were a local work or undertaking in the province in which that property is situated.

Source

https://laws-lois.justice.gc.ca/eng/acts/C-15.1/section-341.html

Canonical document at the regulator. Always cite this URL — not the Vantage detail page — in compliance evidence.

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