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Prepayment Right<br />

The federal government published regulations that<br />

amend Section 10(2) of the Interest Act.<br />

The statutory prepayment right now does not apply to<br />

hypothecs on real estate granted after January 1 st ,<br />

2012 by (i) partnerships, (ii) trusts settled for business<br />

or commercial purposes, (iii) Alberta unlimited liability<br />

corporations, (iv) British Columbia unlimited liability<br />

companies, and (v) <strong>No</strong>va Scotia unlimited companies.<br />

9

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