Government of Canada / Gouvernement du Canada
Symbol of the Government of Canada


Trust and Loan Companies Act

Version of section 519 from 2003-01-01 to 2023-06-21:

Marginal note:Priority of claim in liquidation

 In the case of the winding-up of a company, the expenses resulting from the taking of control of the company under subsection 510(1) and assessed against and paid by other companies pursuant to section 23 of the Office of the Superintendent of Financial Institutions Act, and interest in respect thereof at such rate as is specified by the Superintendent, constitute a claim of Her Majesty in right of Canada against the assets of the company that ranks after all other claims but prior to any claim in respect of the shares of the company.

  • 1991, c. 45, s. 519
  • 1996, c. 6, s. 131(E)

Date modified: