Bijural Terminology Records

Common Law

ranking

Civil Law

ranking

Title of the Legislative Text

Special Economic Measures Act, S.C. 1992, c. 17

Provision

Existing equities maintained

  5. (3) All secured and unsecured rights and interests held by persons, other than

  • (a) a foreign state to which the order referred to in subsection (1) applies,

  • (b) persons in that foreign state, and

  • (c) nationals of that foreign state who do not ordinarily reside in Canada, are entitled to the same priority with respect to the rights and interests of Her Majesty and the owner in the proceeds of the sale referred to in subsection (2) as they would have been entitled to had this section not been enacted.

Problem

Since the terms "priority" and priorité may raise confusion and can refer erroneously to the notion of a prior claim in civil law, it is preferable to replace these terms with the notion of "ranking"/ rang.

Solution

In the English version, the term "priority" is replaced by "ranking". In the French version of the marginal note, the term priorité is replaced by rang.

Harmonized Provision

Existing equities maintained

  5. (3) All secured and unsecured rights and interests held by persons, other than

  • (a) a foreign state to which the order referred to in subsection (1) applies,

  • (b) persons in that foreign state, and

  • (c) nationals of that foreign state who do not ordinarily reside in Canada, are entitled to the same ranking with respect to the rights and interests of Her Majesty and the owner in the proceeds of the sale referred to in subsection (2) as they would have been entitled to had this section not been enacted.

Federal Law-Civil Law Harmonization Act, No. 1, S.C. 2001, c. 4, s. 120