Nova Scotia Legislature Introduces Bill 33 - Securities Transfer Act

Posted on May 6, 2010 by Simon Wormwell

The Nova Scotia legislature has introduced Bill 33, the Securities Transfer Act (STA). The bill received third reading on May 4th, 2010.

STA legislation in Canada is based on the Uniform Securities Transfer Act ("USTA") - a model act that was developed and endorsed by the USTA Task Force of the Canadian Securities Administrators. The intent behind this legislative initiative is to have substantively uniform statutes across the country governing the holding and transfer of securities and other investment property. The STA affects how security interests in investment property are granted and perfected.

If the Act comes into force in Nova Scotia, then Prince Edward Island will be the only Canadian province without STA legislation.

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