Sinclair ( Re )
ITA-8128-92
Rothstein J.
25/5/93
10 pp.
Notice of motion for directions as to measures to be taken by sheriff in carrying out federal writ of fieri facias against RRSP -- Taxpayer not paying certified tax indebtedness of $94,574.80 pursuant to letters to pay -- Sheriff seizing RRSP -- Federal Court Act, s. 56 providing writs of execution or other process for enforcement of judgments or orders of Court to be executed as nearly as possible in same manner as similar writs or process issued out of superior court of province in which property to be seized situated -- Manitoba Executions Act, s. 7(1) providing sheriff shall seize certain specified things or "other securities for money of judgment debtor" against whom writ issued -- "Securities for money" construed as ejusdem generis with preceding words -- As preceded by "other", construed to mean security documents and other entitlements to money analogous to promissory notes or cheques -- RRSP within "other securities for money" -- Context of s. 7(1) not suggesting technical distinctions between different types of instruments intended -- Executions Act aid in recovery of judgments by judgment creditors -- Intended to broaden types of assets subject to seizure from what may have been possible under common law -- Although RRSP's not existing when Executions Act enacted, s. 7 not construed as frozen in time -- Under s. 7(1) property including property "of the judgment debtor against whom the writ is issued, or in which he has any interest" -- Where judgment debtor having interest in property such as equitable interest under trust, s. 7(1) indicating property subject to execution -- Assignability or transferability not condition attaching to definition of "other securities for money" -- Halsbury's definition of "securities" not containing such restriction -- Even securities normally assignable or transferable may be subject to non-transferability or assignability provision -- Such clause would not take instrument out of definition of "other securities for money" -- S. 7(1) including securities redeemable only, i.e. RRSP's -- RRSP exigible under Manitoba Executions Act and properly subject to writ of fieri facias issued out of this Court -- Executions Act, R.S.M. 1987, c. E160, ss. 5(1), 7(1) -- Income Tax Act, S.C. 1970-71-72, c. 63, s. 224(1) (as am. by S.C. 1990, c. 34, s. 1) -- Federal Court Act, R.S.C., 1985, c. F-7, s. 56-Queen's Bench Rules, Man. Reg. 553/88, R. 60.16 -- Bills of Exchange Act, R.S.C., c. B-4 -- Judgments Act, 1838 (U.K.), I & II Vict., c. 110, s. 12.