Part 9 — Security Certificates, Registers and Transfers Division 1 Interpretation and Application
194 No duty to inquire
purchaser, has no duty to inquire into the rightfulness of the
transfer and, subject to section 195, has no notice of an adverse
claim.
(2) Subsection (1) applies even if the purchaser or broker has
notice that the security is held by a third person or is registered in
the name of or endorsed by a fiduciary.