Part 1Assignation

Chapter 1Assignation of claims, protection of debtors and related matters

Assignation of claims

I12Assignation of claim subject to a condition

1

The assignation of a claim may be subject to a condition which must be satisfied before the claim is transferred.

2

Any such condition must be specified in the assignation document.

3

The condition may, for example—

a

be the occurrence of a particular date,

b

depend on something happening (whether or not it is certain that the thing will happen), or

c

depend on a period of time elapsing during which something must not happen (whether or not it is certain that the thing will happen at some time).

4

For the purposes of subsection (2), the ways in which the condition can be specified in the assignation document include by making reference in the assignation document to another document, the terms of which are not reproduced.