T-11.002 - Act respecting the transfer of securities and the establishment of security entitlements

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23. A person has notice of an adverse claim if
(1)  the person knows of the adverse claim;
(2)  the person is aware of facts sufficient to indicate that there is a significant probability that the adverse claim exists and deliberately avoids information that would establish the existence of the adverse claim; or
(3)  the person has a duty, imposed by law, to investigate whether an adverse claim exists and the investigation, if carried out, would establish the existence of the adverse claim.
In this Act, “adverse claim” means a claim that the claimant has rights in a security or financial asset and that it is or would be a violation of the rights of the claimant for another person to hold, transfer or deal with the security or financial asset.
2008, c. 20, s. 23.