This section is from the book "Canadian Banking Practice", by John T. P. Knight.
Question 575. - In section 85 of the Bank Act a lien acquired by a bank on ships is subject to the law of the Province. No mention of the Provincial laws is made in section 88. Must security taken under this section be registered, if the Provincial laws require such registration Answer. - No. The powers given by the Bank Act under section 88 override any provisions in the Provincial Statutes respecting the registration of liens.