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

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99. Despite any contrary provision in this subdivision, the registered holder of a security may not assert a claim under section 96 or 98 against the issuer if
(1)  the holder had notice of the fact that the security certificate had been lost, wrongfully taken or destroyed but failed to give a notice to the issuer of that fact within a reasonable time; and
(2)  the issuer registered a transfer of the security before receiving a notice of the loss, wrongful taking or destruction of the security certificate.
2008, c. 20, s. 99.