Brassard v. Smith, [1925] AC 371 -- summary under Subsection 92(2)

At the time of the death of the testator, who was domiciled in Nova Scotia, he held in Nova Scotia shares of the Royal Bank of Canada whose constating statute provided that the Bank could maintain in any province in which it had branches a share registry office at which shares could be validly transferred. There was such an office in Nova Scotia. In finding that those shares were situate within Nova Scotia rather than Quebec, so that they were not subject to Quebec succession duty, the Court stated that the true test was "where could the shares be effectively dealt with?" and went on (at p. 376) to say that "the answer in the case of these shares is in Nova Scotia only, and that answer solves the question."