The current Alberta law governing transfers of investment securities is found in the Alberta Business Corporations Act ("ABCA"). Like the provisions in most other Canadian Business Corporations Acts, it is based upon the pre- 1962 version of Article 8 of the . Uniform Commercial Code ("UCC"). It relies upon the concepts of possession and delivery of a physical object - the negotiable security certificate. At one time, the settlement of a normal securities transaction involved the actual delivery of certificates between buyers and sellers, but this was a laborious.
