Summary

31 Victoria, c. 11An Act respecting Banks

Every such Bank may under its existing Charter, acquire and hold an absolute title in or to land mortgaged to it in security for a debt due or owing to it, either by obtaining a release of the equity of redemption in the mortgaged property, or by procuring a foreclosure in any Court of Chancery or of Equity, or by other means whereby, as between individuals, an equity of redemption can by law be barred.
Source: Wikisource

31 Victoria, c. 11An Act respecting Banks

Any Bank or Banking Institution carrying on business as such in Canada, may in discounting any note, bill or other negotiable security or paper, bond fide payable at any place in Canada different from that at which it is discounted, and other than one of its own places or seats of business, branches, agen- cies or offices of discount and deposit in Canada, receive and retain in addition to the discount thereon, a sum not exceeding one half of one per centum on the amount thereof, to defray the expenses of agency and charges in collecting the same.
Source: Wikisource

31 Victoria, c. 11An Act respecting Banks

All advances made on the security of any bill of lading, specification, receipt, acknowledgment or certificate shall give and be held to give to the person, Bank or other body corporate making such advances, a claim for the re-payment of such advances on the grain, goods, wares or merchandize therein mentioned prior to and by preference over the claim of any unpaid vendor
Source: Wikisource

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