Question 534. - In what form should security on standing timber and timber licenses be taken under section 84 of the Bank Act.

Answer. - The procedure required by the Provincial statutes should be followed and the loc 1 laws as to registration, priority, etc., would govern. In the case of timber licenses a transfer of the usual kind recorded in the Crown timber office would be necessary. In the case of timber standing on land owned by the customer the same procedure should be followed as would be adopted if a private person were taking security on the timber.