Part 6 — Special Seizure Mechanisms
57.1 Powers of agency on seizure
security entitlement is seized in accordance with section 57, the
agency is constituted as the appropriate person for the purposes of
dealing with or disposing of the seized property and, for the
duration of the seizure, the enforcement debtor is not the
appropriate person for the purposes of dealing with or disposing of
the seized property.
(2) On seizure of an enforcement debtor's interest in a security or a
security entitlement in accordance with section 57, the agency may
(a) do any act or thing that would otherwise have to be done by
the enforcement debtor, or
(b) execute or endorse any document that would otherwise have
to be executed or endorsed by the enforcement debtor.
(3) Any endorsement, instruction or entitlement order made by an
agency as the appropriate person pursuant to subsection (1) or by a
receiver must be accompanied by the certificate of the agency or
receiver stating that the endorsement, instruction or entitlement
order has been made by the agency or receiver under the authority
of this Act.
2006 cS-4.5 s107