Mr. HANSON (York-Sunbury):

I would like to ask that clauses 63, 64 and 65 relating to borrowing powers stand. This is one of the important parts of the bill. Of course if the minister wants to go on with it, I cannot help it.

Mr. CAHAN:

If the hon. gentleman wishes I will certainly allow these clauses to stand. I do not think the changes made are important except for purposes of clarification.

Sections 63 to 65 inclusive stand.

On section 66-Registration of mortgages and charges.

Mr. OAHAN:

In respect of this clause there is a slight amendment. Provision was not made in the old act for a special condition of affairs prevailing under the civil law of Quebec. In that province a mortgage is executed before a notary and he retains the original document. Under the law of that province a notarial copy from the records of the notary has the same force and effect as evidence as has under the English law the original mortgage which is signed by the parties.

Mr. POWER:

It is an authentic document.

Mr. CAHAN:

Yes; I was striving for that word. In order to make it clear that that is recognized by this bill I am proposing to insert on page 34, line 3, after the word "company" these words:

Or, in the province of Quebec, a notarial copy of such instrument.

I have been asked by the lawyers of that province to see that that defect is remedied.

Mr. DUPRE:

I move in subsection (1) of section 66, on page 34, line 3, to insert after the word "company" the words "or, in the province of Quebec, a notarial copy of such instrument."

Mr. CAHAN:

In line 29, after the word

"company" the same words should be inserted, "or in the province of Quebec a notarial copy of such instrument."

Mr. DUPRE:

I move an amendment

accordingly.

Mr. BUTCHER :

Would the minister allow this section to stand?

Mr. CAHAN:

'Certainly. I am quite willing to cooperate, because I regard this as a peculiar bill on which we should have the best judgment of all members on both sides of the house to guide us. When we allow these sections to stand, however, I should be very happy indeed if hon. gentlemen who

Dominion Companies Act

have definite opinions or suggestions to make with regard to these sections, would make such suggestions before the sections again come up for discussion, so that I may consider whether the amendments which they propose in relation to the other sections of the act, will result in a harmonious whole. I should be very glad if that could be done.

Mr. POWER:

I do not think this is a

debatable bill; you are quite ready to accept the point of view of the province of Quebec?

Mr. CAHAN:

Yes.

Mr. POWER:

There may be some discussion on section 67; why not let it stand?

Mr. CAHAN:

I was only suggesting that

if hon. gentlemen had in mind definite amendments they should advise me of them.

Mr. POWER:

Why have any amendments? This is a good bill; it is not a political bill at all. I entirely agree with the Secretary of State; politics have nothing to do with this measure. We find that our law is not as good as we thought it was, but we want to get a good law and we are willing to do our best to amend it.

Mr. BOTHWELL:

In connection with the

sections that are allowed to stand I think many of us would be glad of the opportunity of discussing them with the minister altogether outside of the committee.

Mr. CAHAN:

I will place myself at the

disposal of hon. members at any time.

Section stands.

Sections 68 and 69 agreed to.

On section 70-Company's register of mortgages.

Mr. CAHAN:

There is a slight amendment to this section. In drafting section 70 originally I overlooked the fact that a subsection of section 66 deals with similar matters. In order that the two may be in perfect harmony I am suggesting an amendment which will be read by my colleague the Solicitor General.