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Prescribed Entities and Classes of Mortgages and Hypothecs Regulations (SOR/2011-230)

Regulations are current to 2024-03-06 and last amended on 2012-01-01. Previous Versions

Prescribed Entities and Classes of Mortgages and Hypothecs Regulations

SOR/2011-230

INTEREST ACT

Registration 2011-10-21

Prescribed Entities and Classes of Mortgages and Hypothecs Regulations

C.P. 2011-1235 2011-10-20

His Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 10(3)Footnote a of the Interest ActFootnote b, hereby makes the annexed Prescribed Entities and Classes of Mortgages and Hypothecs Regulations.

Marginal note:Prescribed entities, mortgages and hypothecs

 For the purposes of paragraph 10(2)(b) of the Interest Act,

  • (a) the following entities are prescribed:

    • (i) partnerships,

    • (ii) trusts settled for business or commercial purposes,

    • (iii) unlimited liability corporations as defined in the Business Corporations Act, R.S.A. 2000, c. B-9,

    • (iv) unlimited liability companies as defined in the Business Corporations Act, S.B.C. 2002, c. 57, and

    • (v) unlimited companies as defined in the Companies Act, R.S.N.S. 1989, c. 81; and

  • (b) the prescribed class of mortgages and hypothecs consists of those issued after January 1, 2012.

Marginal note:Coming into force

 These Regulations come into force on January 1, 2012.


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