Bijural Terminology Records

Common Law

share

Civil Law

share

Title of the Legislative Text

Canada Business Corporations Act, R.S.C., 1985, c. C-44.

Provision

70. ...

(3) If a security is part of a fungible bulk, a purchaser of the security is the owner of a proportionate interest in the fungible bulk.

Problem

The linguistic versions differ as to content. The term "interest" in the English version is broader in scope than "participation" in the French version. As well, the term "interest" has only a common law meaning.

The term "participation" is appropriate for both civil law and common law.

Solution

In the English version, "interest" is replaced by "share".

Harmonized Provision

(Amendment to the English version only)

70. ...

(3) If a security is part of a fungible bulk, a purchaser of the security is the owner of a proportionate share in the fungible bulk.

Federal Law-Civil Law Harmonization Act, No. 3, S.C. 2011, c. 21, s. 36.