Special Shareholders Meeting - Business Corporation ActFor information - Special Shareholders meeting regarding a Business Corporation Act.
DIVISION II SPECIAL SHAREHOLDERS MEETING
207. The board of directors may at any time call a special shareholders meeting.
2009, c. 52, s. 207.
208. The holders of not less than 10% of the issued shares that carry the right to vote at a shareholders meeting sought to be held may requisition the board of directors to call a shareholders meeting for the purposes stated in the requisition.
The requisition, signed by at least one shareholder, must state the business to be transacted at the meeting and must be sent to each director and to the head office of the corporation.
2009, c. 52, s. 208.
209. On receiving the requisition, the board of directors calls a shareholders meeting to transact the business stated in the requisition.
If the board of directors does not within 21 days after receiving the requisition call a meeting, any shareholder who signed the requisition may call the meeting.
2009, c. 52, s. 209.
210. Unless the shareholders otherwise resolve at a meeting called by shareholders, the corporation must reimburse the shareholders for the expenses reasonably incurred by them in requisitioning, calling and holding the meeting.
2009, c. 52, s. 210.
211. No shareholders meeting may be called
(1) to discuss business in respect of which a shareholders meeting has already been called;
(2) to transact business that is not within the powers of the shareholders;
(3) to enforce a personal claim or redress a personal grievance against the corporation or its directors, officers or shareholders;
(4) to transact business that does not relate in a significant way to the business or affairs of the corporation; or
(5) to discuss a matter or business that has been submitted to and rejected by the shareholders within the year preceding the requisition.
2009, c. 52, s. 211.
212. Subdivisions 1 to 5 of Division I apply to special shareholders meetings, with the necessary modifications.
2009, c. 52, s. 212.