Canada Grain Act
Marginal note:Recovery of charges
54.1 (1) Where an elevator receipt issued by the licensee of a terminal elevator or transfer elevator has been outstanding for more than one year and any charges accruing under the receipt have accrued for more than one year and are unpaid, the licensee, with the written permission of the Commission, after giving such notice of sale to the last known holder of the receipt as may be specified by the Commission, may, on such terms and conditions as may be specified in writing by the Commission, sell the grain referred to in the receipt or grain of the same kind, grade and quantity to recover the charges.
Marginal note:Obligation of licensee after sale
(2) Where the licensee of an elevator sells grain under subsection (1), the licensee has no obligation to the holder of the elevator receipt issued in respect of the grain, other than to pay to the holder on surrender of the receipt the amount that the licensee received for the grain sold less the aggregate of the costs, if any, incurred in the sale of the grain and the charges accrued under this Act in respect of the grain to the date of the sale.
(3) Each elevator receipt issued by the licensee of a terminal elevator or transfer elevator shall bear the following warning:
"WARNING: Where the charges accruing under this receipt have been unpaid for more than one year, the grain may be sold and thereafter the holder is entitled to receive, on surrender of this receipt, only the money received for the grain less those charges and the costs of sale.
AVERTISSEMENT : En cas de non-paiement, pendant plus d’un an, des droits exigibles aux termes d’un récépissé, le grain peut être vendu, le détenteur du récépissé n’ayant droit par la suite, sur remise de ce document, qu’au produit de la vente, déduction faite de ces droits et des frais exposés pour la vente."
- R.S., 1985, c. 37 (4th Supp.), s. 20
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