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

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46. Except as otherwise provided in this subdivision, the provisions of this Act that make a security enforceable against an issuer despite a defence or defect or that compel a security’s issue or reissue do not apply to the extent that the application of such provisions would result in an overissue, that is, an issue of securities in excess of the number or amount that the issuer is authorized to issue.
2008, c. 20, s. 46.