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In forceAmended2020 Revised Edition

Part 4 · Registration

40. Corporations and limited liability partnerships

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Amended

Last amended by an amending law of 2014.

(1)

In favour of any purchaser of registered land, a corporation or a limited liability partnership is deemed to have the same powers of acquisition and disposition as a natural person of full age and legal capacity.

(2)

This section applies to all corporations whether sole or aggregate, whether created by any written law or otherwise, and to all limited liability partnerships, and despite any stipulation, restriction, or qualification imposed in the constitution of the corporation or limited liability partnership (as the case may be) or elsewhere.

(3)

Nothing in this section shall be held to diminish the personal liability of any individual or group of individuals controlling or responsible for the management of a corporation or a limited liability partnership for acting in excess of its corporate powers.

(4)

Where a corporation or a limited liability partnership holds land in a fiduciary capacity, this section shall not be held to extend the powers of the corporation or the limited liability partnership in respect of that land nor otherwise to affect the liability of the corporation or the limited liability partnership to the beneficiaries for acting in excess of those powers.

Report

Part 5

Effect of Registration

Part 6

Instruments

Part 7

Transfers

Part 8

Mortgages and Charges

Part 9

Leases

Part 10

Easements

Part 11

Transmissions

Part 12

Caveats

Part 13

Enforcement Orders and Orders of Court

Part 14

Restrictive Covenants

Part 15

Statutory Acquisition and Sale

Part 16

Powers of Attorney

Part 17

Rights and Remedies

Part 18

Searches and Certified Copies

Part 19

Miscellaneous

Schedules