His Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 10(3) a of the Interest Act b, hereby makes the annexed Prescribed Entities and Classes of Mortgages and Hypothecs Regulations. S.C. 2008, c. 28, s. 155 R.S., c. I-15
For the purposes of paragraph 10(2)(b) of the Interest Act,
the following entities are prescribed:
partnerships,
trusts settled for business or commercial purposes,
unlimited liability corporations as defined in the Business Corporations Act, R.S.A. 2000, c. B-9,
unlimited liability companies as defined in the Business Corporations Act, S.B.C. 2002, c. 57, and
unlimited companies as defined in the Companies Act, R.S.N.S. 1989, c. 81; and
the prescribed class of mortgages and hypothecs consists of those issued after January 1, 2012.
These Regulations come into force on January 1, 2012.