David Vilaca
“bank” means a bank listed in Schedule I or II Toronto-Dominion Bank Bank of Montreal
Permissible registered holder If a person {which in the bank Act also means NATURAL PERSON} on whom the ownership of a security of a bank devolves by operation of law,{To pass on or delegate to another, To be passed on or transferred to another} other than a person described in subsection (2), provides proof of that person’s authority to exercise rights or privileges in respect of a security of the bank that is not registered in the person’s name, the bank shall, subject to this Act, treat that person as entitled to exercise those rights or privileges.