Source: http://www.bclaws.ca/EPLibraries/bclaws_new/document/LOC/freeside/--%20B%20--/Business%20Corporations%20Act%20SBC%202002%20c.%2057/00_Act/02057_11.xml
Timestamp: 2014-03-09 12:12:33
Document Index: 738877

Matched Legal Cases: ['art 9', 'art 2', 'art 8', 'art 8', 'art 8', 'art 8', 'art 8', 'art 8', 'art 8']

Business Corporations ActCopyright (c) Queen's Printer,	Victoria, British Columbia, CanadaIMPORTANT INFORMATIONBusiness Corporations Act[SBC 2002] CHAPTER	57Part 9 — Company AlterationsDivision 1 — Memorandum, Notice of Articles and ArticlesMemorandum and articles of pre-existing company not to be altered256 (1) A pre-existing company must not alter its memorandum or articles.(2) Despite subsection (1), a pre-existing company may(a) alter its memorandum or articles,(i) under section 364 (2),(ii) under section 366,(iii) under section 370 or 436, as the case may be, or(iv) under section 442 (3),(b) alter its articles or notice of articles at any time after it has complied with section 370 (1) (a) and (b) or 436 (1) (a) and (b),
and(c) change its articles in accordance with section 12 (5), 372 (4), 434 (1) (a) or 438 (4).Alteration to notice of articles257 (1) This section does not apply to an alteration to a notice of articles if the alteration is made, is required to be made or otherwise
occurs under Division 4 of Part 2 or under section 127.(2) A company must not alter its notice of articles unless(a) the company does so in the manner required or permitted by this Act, and(b) subject to subsection (3) of this section, the company has been authorized to make the alteration by a court order or, if the alteration
is not authorized by a court order,(i) by the type of resolution specified by this Act,(ii) if this Act does not specify the type of resolution, by the type of resolution specified by the articles, or(iii) if neither this Act nor the articles specify the type of resolution, by a special resolution.(3) If an alteration to a company's articles has been approved, under section 259 (1), by a resolution marked in accordance with section 259
(4) (a) and deposited in the company's records office in accordance with section 259 (4) (b), or has been made by a court order, the company may alter
its notice of articles to reflect that alteration to its articles without obtaining the authorization referred to in subsection (2) (b) of this
section.(4) In order to alter its notice of articles under this section, a company must file with the registrar a notice of alteration in the form
established by the registrar describing the alteration.(5) Whether or not an alteration to the notice of articles has been effected and authorized in accordance with subsection
(2),(a) the alteration takes effect on the date and time that the notice of alteration is filed with the registrar, or(b) subject to sections 258 and 410, if the notice of alteration specifies a date, or a date and time, on which the alteration is to take
effect that is later than the date and time on which the notice of alteration is filed with the registrar, the alteration takes effect(i) on the specified date and time, or(ii) if no time is specified, at the beginning of the specified date.(6) After an alteration to the notice of articles takes effect under subsection (5) of this section, the registrar must, if requested to do
so, furnish to the company a certified copy of the notice of articles as altered.Withdrawal of notice of alteration258 At any time after a notice of alteration is filed with the registrar under section 257 (4) and before the alteration to the notice of
articles takes effect, the company in respect of which the filing was made or any other person who appears to the registrar to be an appropriate person
to do so may withdraw the notice of alteration by filing with the registrar a notice of withdrawal in the form established by the registrar identifying
the notice of alteration.Alteration to articles259 (1) A company may resolve to alter its articles(a) by the type of resolution specified by this Act,(b) if this Act does not specify the type of resolution, by the type of resolution specified by the articles, or(c) if neither this Act nor the articles specify the type of resolution, by a special resolution.(2) A company may alter its articles to specify or change the majority of votes that is required to pass a special resolution, which
majority must be at least 2/3 and not more than 3/4 of the votes cast on the resolution, if the shareholders resolve, by a special resolution, to make
the alteration.(3) A company may alter its articles to specify or change the majority of votes that is required for shareholders holding shares of a class
or series of shares to pass a special separate resolution, which majority must be at least 2/3 and not more than 3/4 of the votes cast on the
resolution, if(a) the shareholders resolve, by a special resolution, to make the alteration, and(b) shareholders holding shares of that class or series of shares consent by a special separate resolution of those
shareholders.(4) If an alteration to the articles would, on becoming effective, render incorrect or incomplete any information in the notice of articles
or alter special rights or restrictions attached to shares, the company must(a) note on the resolution referred to in subsection (1) that the alteration to the articles does not take effect until the notice of
articles is altered to reflect that alteration to the articles,(b) deposit that resolution at the company's records office, and(c) after complying with paragraphs (a) and (b) of this subsection, alter its notice of articles, in accordance with section 257, to reflect
the alteration to be made to the articles.(5) An alteration to the articles referred to in subsection (4) of this section takes effect when the alteration to the notice of articles
referred to in subsection (4) (c) takes effect.(6) An alteration to the articles that is not an alteration referred to in subsection (4) takes effect(a) on the date and time that the resolution referred to in subsection (1) is received for deposit at the company's records office,
or(b) if the resolution specifies a date, or a date and time, on which the alteration is to take effect that is later than the date and time on
which the resolution is received for deposit at the company's records office,(i) on the specified date and time, or(ii) if no time is specified, at the beginning of the specified date.(7) This section does not apply to a change of name or to an adoption or change of any translation of name.(8) Nothing in subsection (5) or (6) prevents an alteration to the articles made by a court order from taking effect in accordance with that
order.Shareholders may dissent260 Any shareholder of a company may send to the company a notice of dissent, under Division 2 of Part 8, in respect of any resolution under section 259 (1)(a) to alter restrictions on the powers of the company or on the business the company is permitted to carry on, or(b) without limiting paragraph (a), in the case of a community contribution company, to alter any of the company's community purposes within the meaning of section 51.91.Alteration to Table 1 articles261 (1) The Lieutenant Governor in Council may, by regulation, prescribe a set of articles, and designate that set of articles as "Table
1".(2) Unless the articles provide otherwise, if a company has Table 1 as its articles as a result of the operation of this Act or if a
provision of Table 1 is adopted by reference in the articles of a company, any regulation that amends Table 1 or that provision, as the case may be,
will, at the time that the amendment comes into force, effect a corresponding alteration to the company's articles, without the necessity for the
company to pass a resolution to make that alteration.(3) Nothing in this section prevents a company from altering a provision in its articles referred to in subsection (2) in the manner
provided by section 259.(4) Subsection (2) of this section does not apply to a provision that has been altered under subsection (3).Articles issued by company must reflect alterations262 After an alteration to the articles of a company takes effect, the company must not issue a copy of the articles unless(a) the copy of the articles reflects the alteration, or(b) there is attached, to the copy of the articles, a copy of each resolution, court order or other record by which the articles being issued
were altered.Change of company name263 (1) In order to change its name or adopt or change any translation of that name, a company must alter its notice of articles in accordance
with section 257.(2) A company may, by a directors' resolution or an ordinary resolution, authorize an alteration to its notice of articles to adopt or
change a translation of its name.(3) A resolution under section 257 (2) (b) may authorize a change of the company's name to(a) a name, referred to in the resolution, that is reserved or is to be reserved under section 22,(b) a name that is to be chosen by the directors and then reserved under section 22, or(c) the name created,(i) in the case of a limited company, by adding "B.C. Ltd." or, if the company is a community contribution company, "B.C. Community Contribution Company Ltd."
after the incorporation number of the company, or(ii) in the case of an unlimited liability company, by adding "B.C. Unlimited Liability Company" after the incorporation number of the
company(4) If a notice of alteration filed with the registrar under section 257 (4) reflects a change of name referred to in subsection (3) (a) or
(b) of this section and no reservation of that name is in effect when the alterations contemplated by the notice of alteration are to take effect, the
notice of alteration is(a) deemed to be withdrawn when the alterations contemplated by the notice of alteration are to take effect, and(b) deemed not to have effected any of the alterations to the notice of articles contemplated by that notice of alteration.(5) After an alteration to the notice of articles has taken effect under section 257 (5) to change the name of a company,(a) the registrar must(i) issue and furnish to the company a certificate of change of name showing the change of name and the date and time the change took
effect,(ii) furnish to the company, if requested to do so, a certified copy of the notice of articles as altered, and(iii) publish in the prescribed manner a notice of the change of name, and(b) the company must promptly alter its articles to reflect that change of name and any translation of that name.(6) After an alteration to the notice of articles has taken effect under section 257 (5) to adopt a translation of the name of a company, or
change any translation of the name of a company other than to reflect a change of the name of the company,(a) the registrar must, if requested to do so, furnish to the company a certified copy of the notice of articles as altered,
and(b) the company must promptly alter its articles to reflect that translation or the change of the translation of that name.(7) A company may alter its articles for the purposes of subsection (5) (b) or (6) (b) of this section without obtaining any resolution to
direct or authorize that alteration.(8) No change of the name or translated name of a company affects any of its rights or obligations, or renders defective any legal
proceedings by or against it, and any legal proceedings that may have been continued or commenced by or against it under its former name or translated
name may be continued or commenced by or against it under its new name or translated name.Exceptional resolutions and resolutions respecting unalterable provisions264 (1) By a provision in its articles, in this section called an exceptional resolution provision, a company may specify that(a) a provision of its notice of articles may not be altered unless the resolution to authorize the alteration to the notice of articles is
passed as an exceptional resolution,(b) a provision of its articles may not be altered unless the resolution to alter the company's articles is passed as an exceptional
resolution, or(c) an action may not be taken by the company or the directors unless the resolution to authorize or effect the taking of the action is
passed as an exceptional resolution.(2) A company may not vary or delete an exceptional resolution provision unless the variation or deletion is authorized by an exceptional
resolution.(3) Despite any other provision of this Act, if the articles of a pre-existing company that has complied with section 370 (1) (a) and (b) or
436 (1) (a) and (b) include a provision that was not capable of alteration under the Company Act, 1996, the company must not alter
that provision unless the alteration is(a) ordered by the court, or(b) authorized by a unanimous resolution.(4) Each share of the company carries the right to vote on a resolution referred to in subsection (3) (b) of this section, whether or not
that share otherwise carries the right to vote.Resolution must be passed by greatest majority265 If a company is required or permitted under its articles or this Act to pass a resolution and if there is a conflict between the articles and
this Act regarding the majority of votes that is required to pass the resolution, the company must, in order to pass the resolution, obtain the greater
of(a) the majority of votes required by the articles, and(b) the majority of votes required by this Act.Division 2 — ConversionConversion of special Act corporations266 (1) Unless the Act by which it was incorporated provides otherwise, a special Act corporation may apply to convert itself into a company
under this Act if it has the consent of the minister to do so, and if it is authorized to do so by a special resolution that(a) adopts, in substitution for the charter of the special Act corporation,(i) a notice of articles that reflects the information that will apply to the converted company on its recognition, and(ii) subject to subsection (2), articles that comply with section 12 (1) and (2) and, if the converted company is to be a community contribution company, section 51.92, and(b) authorizes one or more of the directors of the special Act corporation to sign the articles and to file the conversion application
referred to in subsection (3) (a) of this section with the registrar.(2) If the special Act corporation seeks to convert itself into a company,(a) one or more of the directors of the special Act corporation must sign the articles referred to in subsection (1) (a) (ii),
and(b) if the special Act corporation is a pre-existing reporting company, the special Act corporation must include, in those
articles,(i) the Statutory Reporting Company Provisions, or(ii) if a regulation has been made in respect of the corporation under section 435, those provisions of the Statutory Reporting Company
Provisions that apply to the corporation.(3) A special Act corporation that has been authorized to do so under subsection (1) of this section must, in order to apply for conversion
under this Division, submit to the registrar for filing(a) a conversion application, and(b) the minister's written consent to the conversion.(4) A conversion application must(a) be in the form established by the registrar,(b) set out(i) the name reserved for the company under section 22, and the reservation number given for it, or(ii) if a name is not reserved, a statement that the name by which the company is to be recognized is the name created by adding "B.C. Ltd." or, if the company is a community contribution company, "B.C. Community Contribution Company Ltd." after the incorporation number of the company, and(c) contain the notice of articles referred to in subsection (1) (a) (i) of this section.(5) A special Act corporation is converted into a company under this section(a) on the date and time that a conversion application is filed with the registrar, or(b) subject to subsection (6) and section 410, if the conversion application specifies a date, or a date and time, on which the conversion is
to take effect that is later than the date and time on which the conversion application is filed with the registrar,(i) on the specified date and time, or,(ii) if no time is specified, at the beginning of the specified date.(6) At any time after a conversion application is filed with the registrar under this section and before the special Act corporation is
converted, the minister may withdraw the conversion application by filing with the registrar a notice of withdrawal in the form established by the
registrar identifying the conversion application.(7) After a special Act corporation is converted into a company, the registrar must(a) issue a certificate of conversion showing the name of the converted company and the date and time of its conversion,(b) furnish to the converted company(i) the certificate of conversion, and(ii) if requested to do so, a certified copy of the conversion application and a certified copy of the notice of articles,
and(c) publish in the prescribed manner a notice of the conversion.(8) Without limiting section 111 (1), after a special Act corporation is converted into a company, the converted company must register in
its central securities register the shares of the company that were held by shareholders of the corporation immediately before its conversion, and,
with respect to those shares, must register(a) the name and last known address of each of those shareholders,(b) the class, and any series, of those shares, and(c) the number of those shares held by each of those shareholders.Articles on conversion267 At the time that a special Act corporation is converted into a company under section 266 (5), the converted company has, as its articles, the
articles that have been signed by one or more of the directors of the special Act corporation or, if, despite section 266 (2) (a), none of the directors
of the special Act corporation have signed articles for the converted company, the converted company has, as its articles,(a) Table 1, or(b) if the converted company is a pre-existing reporting company,(i) Table 1, and(ii) the Statutory Reporting Company Provisions or, if a regulation has been made in respect of the corporation under section 435, those
provisions of the Statutory Reporting Company Provisions that apply to the corporation.Effect of conversion268 (1) At the time that a special Act corporation is converted into a company under section 266 (5),(a) this Act, the notice of articles referred to in section 266 (4) (c) and the articles referred to in section 267, apply to the converted
company in the same manner as if it were a company incorporated under this Act with that notice of articles and those articles, and the former charter
of the special Act corporation ceases to apply,(b) the property, rights and interests of the special Act corporation continue to be the property, rights and interests of the converted
company,(c) the converted company continues to be liable for the obligations of the special Act corporation,(d) an existing cause of action, claim or liability to prosecution is unaffected,(e) a legal proceeding being prosecuted or pending by or against the special Act corporation may be prosecuted, or its prosecution may be
continued, as the case may be, by or against the converted company, and(f) a conviction against, or a ruling, order or judgment in favour of or against, the special Act corporation may be enforced by or against
the converted company.(2) Whether or not the requirements precedent and incidental to conversion have been complied with, a notation in the corporate register
that a special Act corporation has been converted into a company is conclusive evidence for the purposes of this Act and for all other purposes that
the special Act corporation has been duly converted into a company on the date shown and the time, if any, shown in the corporate
register.Division 3 — AmalgamationAmalgamation permitted269 The following corporations may amalgamate and continue as one company:(a) a company with one or more other companies;(b) one or more companies with one or more foreign corporations.Amalgamation agreements270 (1) In order for a company to amalgamate with one or more other corporations under section 269 (a) or (b), it must, unless the proposed
amalgamation is to be effected under section 273 or 274,(a) enter into an amalgamation agreement with the other amalgamating corporations, and(b) have the amalgamation agreement adopted by the company's shareholders under section 271.(2) An amalgamation agreement referred to in subsection (1) of this section must set out the terms and conditions of the amalgamation and
must, in particular,(a) set out the full name of each of the individuals who are to be the directors of the amalgamated company, and the prescribed address for
each of those individuals,(b) set out the manner in which the issued shares of each amalgamating corporation will be exchanged for one or more of the
following:(i) securities of the amalgamated company;(ii) securities of any other corporation;(iii) money,(c) set out any other details necessary to perfect the amalgamation and to provide for the subsequent management and operation of the
amalgamated company, and(d) have attached to it(i) a copy of the articles that the amalgamated company will have after the amalgamation, which articles must comply with section 12 (1) and (2) and, if the amalgamated company is to be a community contribution company, section 51.92, and be signed by one or more of the individuals referred to in paragraph (a) of this subsection, and(ii) a form of amalgamation application that contains the information that is to be included in the amalgamation application that will be
filed with the registrar under section 275 (1) (a).(3) Despite subsection (2) of this section, if shares of one of the amalgamating corporations are held by or on behalf of another of the
amalgamating corporations,(a) the amalgamation agreement must provide for the cancellation of those shares at the time that the amalgamation takes effect, without any
repayment of capital in respect of those shares, and(b) no provision may be made in the agreement for the exchange of those shares for securities of the amalgamated company or of any other
corporation, or for money.Shareholder adoption of amalgamation agreements271 (1) An amalgamation agreement is adopted by the shareholders of an amalgamating company if(a) all of the shareholders, whether or not their shares otherwise carry the right to vote, adopt the amalgamation agreement by a unanimous
resolution, or(b) the amalgamation agreement is adopted by the shareholders in accordance with subsection (6).(2) If the amalgamation agreement is to be submitted for adoption at a meeting under subsection (6), the amalgamating company must send a
notice of the meeting to each shareholder of the amalgamating company at least the prescribed number of days before the date of the proposed
meeting.(3) A notice of meeting sent under subsection (2) must be accompanied by(a) a copy of the amalgamation agreement,(b) a summary of the amalgamation agreement in sufficient detail to permit the shareholders to form a reasoned judgment concerning the
matter, or(c) a notification that each shareholder may, on request, obtain a copy of the amalgamation agreement before the meeting.(4) A company that has included in a notice of meeting referred to in subsection (3) a notification referred to in subsection (3) (c) must,
unless the court orders otherwise, send, promptly and without charge, a copy of the amalgamation agreement to each shareholder who requests a
copy.(5) Section 50 applies if a person does not receive the copy of the amalgamation agreement to which the person is entitled.(6) An amalgamation agreement is adopted by the shareholders of an amalgamating company for the purposes of subsection (1) (b) of this
section when(a) the shareholders approve adoption of the amalgamation agreement(i) by a special resolution, or(ii) if any of the shares held by the shareholders who under subsection (7) are entitled to vote on the resolution to approve the adoption
do not otherwise carry the right to vote, by a resolution of the company's shareholders passed by at least a special majority of the votes cast by the
company's shareholders, and(b) the shareholders holding shares of each class or series of shares to which are attached rights or special rights or restrictions that
would be prejudiced or interfered with by the adoption of the amalgamation agreement approve adoption of the amalgamation agreement by a special
separate resolution of those shareholders.(7) Each share of an amalgamating company carries the right to vote in respect of a resolution referred to in subsection (6) (a) (ii)
whether or not that share otherwise carries the right to vote.(8) Section 61 does not apply to an amalgamation under this Division.Shareholders may dissent272 Any shareholder of an amalgamating company may send a notice of dissent, under Division 2 of Part 8, in respect of a resolution under
section 271 (6) to adopt an amalgamation agreement, to the amalgamating company of which the person is a shareholder or, if the amalgamation has taken
effect, to the amalgamated company.Vertical short form amalgamations273 (1) A holding corporation that is a company and one or more of its subsidiary corporations may amalgamate and continue as one company
without complying with sections 270 and 271 if(a) the holding corporation, if a pre-existing company, has complied with section 370 (1) or 436 (1),(b) all of the issued shares of each amalgamating subsidiary corporation are held by one or more of the other amalgamating
corporations,(c) the amalgamation is approved by a special resolution of the holding corporation or by a resolution of its directors, and(d) the resolution requires that(i) the shares of each amalgamating subsidiary corporation be cancelled on the amalgamation without any repayment of capital in respect of
those shares,(ii) the amalgamated company have, as its notice of articles and articles, the notice of articles and articles of the holding corporation,
and(iii) the amalgamated company refrain from issuing any securities in connection with the amalgamation.(2) On an amalgamation under this section, the capital of the amalgamated company is the same as the capital of the amalgamating holding
corporation.Horizontal short form amalgamations274 (1) Two or more companies that are subsidiaries of the same holding corporation or two or more companies that are either wholly owned by the
same individual or that are subsidiaries of one or more companies wholly owned by that individual may amalgamate and continue as one company without
complying with sections 270 and 271 if(a) all of the issued shares of each amalgamating company are held by,(i) in the case of amalgamating companies that are subsidiaries of the same holding corporation, the holding corporation or another
amalgamating company, or(ii) in the case of amalgamating companies that are wholly owned by the same individual or by a subsidiary of a company wholly owned by
that individual, that individual or another amalgamating company,(b) the amalgamation is approved by each of the amalgamating companies by a special resolution of the amalgamating company or by a resolution
of its directors,(c) the resolutions require that(i) subject to subsections (2) and (2.1) of this section, the shares of all but one of the amalgamating companies be cancelled on the
amalgamation without any repayment of capital in respect of those shares, and(ii) the amalgamated company have, as its notice of articles and articles, the notice of articles and articles of the amalgamating company
the shares of which are not to be cancelled (which amalgamating company is, in this section, called the "primary company"), and(d) the primary company, if a pre-existing company, has complied with section 370 (1) or 436 (1).(2) If the amalgamation is one to which subsection (1) (a) (i) of this section applies, the primary company must be a company all of the
issued shares of which are held by the holding corporation.(2.1) If the amalgamation is one to which subsection (1) (a) (ii) applies, the primary company must be a company all of the issued shares of
which are held by the individual.(3) On an amalgamation under this section, the capital of the amalgamated company consists of(a) the capital that was the capital of the primary company immediately before the amalgamation, and(b) the capital that was the capital of the other amalgamating companies other than the portion of that capital that is attributable to the
shares of any amalgamating company that were held by the primary company or any other amalgamating company.Formalities to amalgamation275 (1) In order to effect an amalgamation under this Division,(a) there must be filed with the registrar, on behalf of the amalgamating corporations, an amalgamation application that complies with this
section, and(b) if any of the amalgamating corporations are foreign corporations, there must be provided to the registrar the records and information the
registrar may require, including, without limitation, any proof required by the registrar regarding the standing of the foreign corporation in the
foreign corporation's jurisdiction, and there must be filed with the registrar any records the registrar may require, including, without limitation,
an authorization for the amalgamation from the foreign corporation's jurisdiction.(2) An amalgamation application must(a) contain whichever of the following statements is applicable:(i) if the amalgamation has been approved by the court, that a copy of an entered court order approving the amalgamation has been obtained
under section 276 or 278 (3) (b) (ii) and has been deposited in the records office of each of the amalgamating companies;(ii) if the amalgamation is to be effected without court approval, that all of the required affidavits under section 277 (1) have been
obtained and that the affidavit obtained from each amalgamating company has been deposited in that company's records office,(b) in the case of an amalgamation to which section 270 applies, be in the form established by the registrar and(i) set out(A) if the amalgamated company is to adopt as its name the name of one of the amalgamating companies, the name to be adopted as the name of the
amalgamated company,(B) if clause (A) does not apply, the name reserved for the amalgamated company under section 22, and the reservation number given for it,
or(C) if clause (A) does not apply and if a name is not reserved for the amalgamated company, a statement that the name by which the amalgamated
company is to be recognized is the name created,(I) in the case of a limited company, by adding "B.C. Ltd." or, if the company is a community contribution company, "B.C. Community Contribution Company Ltd." after the incorporation number of the company, or(II) in the case of an unlimited liability company, by adding "B.C. Unlimited Liability Company" after the incorporation number of the
company, and(ii) contain a notice of articles that reflects the information that will apply to the amalgamated company on its
recognition,(c) in the case of an amalgamation under section 273,(i) be in the form established by the registrar for a short form amalgamation, and(ii) adopt, as the notice of articles for the amalgamated company, the notice of articles of the holding corporation,
and(d) in the case of an amalgamation under section 274,(i) be in the form established by the registrar for a short form amalgamation, and(ii) adopt, as the notice of articles for the amalgamated company, the notice of articles of the amalgamating company the shares of which
are not cancelled.(3) An amalgamation application must not be submitted to the registrar for filing under subsection (1) (a) of this section
unless,(a) in the case of an amalgamation to which section 270 applies, the amalgamation agreement has been adopted by each of the amalgamating
companies shown as parties to it, or(b) in the case of an amalgamation under section 273 or 274, the amalgamation has been approved in accordance with the applicable
section.Amalgamations with court approval276 (1) An amalgamation may be effected under section 275 with court approval, and, for that purpose, a court order approving the amalgamation
must be obtained and a copy of that entered order must be deposited in the records office of each of the amalgamating companies.(2) In order to obtain the court order required under subsection (1) of this section, an application for the order must be filed with the
court at least 6 days after but not more than 2 months after,(a) in the case of an amalgamation to which section 270 applies, the date on which the last of the amalgamating companies to adopt the
amalgamation agreement does so under section 271 (1),(b) in the case of an amalgamation under section 273, the date on which the approval required under section 273 (1) (c) is obtained,
or(c) in the case of an amalgamation under section 274, the date on which the last of the approvals required under section 274 (1) (b) is
obtained.(3) An amalgamating company must give to a creditor or shareholder of the amalgamating company at least 14 days' notice of the date, time
and place of the hearing of an application under subsection (2) of this section if(a) the creditor or shareholder, by written notice, requires the company to give the creditor or shareholder notice of the application,
and(b) the written notice referred to in paragraph (a) is sent to the registered office of the amalgamating company so that it is received at
that office before the hearing of the application and,(i) in the case of an amalgamation to which section 270 applies, not later than 5 weeks after the date on which the last of the
amalgamating companies to adopt the amalgamation agreement does so under section 271 (1), or(ii) in the case of an amalgamation under section 273 or 274, not later than 5 weeks after the date on which the last of the approvals
required under section 273 (1) (c) or 274 (1) (b), as the case may be, is obtained.(4) On an application for an order to approve an amalgamation under subsection (2) of this section,(a) a creditor or shareholder of any of the amalgamating corporations is entitled to be heard,(b) the court must have regard to the rights and interests of each person affected by the amalgamation, and(c) the court may(i) approve the amalgamation on the terms presented or substantially on those terms, or(ii) dismiss the application.Amalgamations without court approval277 (1) An amalgamation may be effected under section 275 without court approval, and, for that purpose, there must be obtained from each
amalgamating company, and deposited in that company's records office, an affidavit of a director or officer of that company that complies with
subsection (2) of this section.(2) The affidavit referred to in subsection (1) must(a) state whichever of the following is applicable to the amalgamating company of which the individual making the affidavit is a director or
officer:(i) that the company has entered into an amalgamation agreement with the other amalgamating corporations and that amalgamation
agreement(A) complies with section 270, and(B) has been adopted in accordance with section 271;(ii) that the company proposes to amalgamate with one or more other corporations under section 273 or 274, as the case may be, and the
amalgamation has been approved in accordance with section 273 or 274, as the case may be, and(b) include whichever of the statements under subsection (3) is applicable.(3) The affidavit referred to in subsection (1) must(a) state that the director or officer believes and has reasonable grounds for believing that no creditor of the company will be materially
prejudiced by the amalgamation, or(b) state(i) that the company has complied with section 278, giving particulars of the time and manner in which the required notices were sent,
published or provided, as the case may be,(ii) that the only objections in writing to the amalgamation received by the company fall into one or more of the following
categories:(A) objections on grounds that are frivolous or vexatious;(B) objections by creditors who received a written notice under section 278 (3) (a) and who did not, within 15 days after the date of that
notice, make application to the court for an order that the amalgamation not proceed;(C) objections that have been dismissed by the court or withdrawn by the creditor, and(iii) that the director or officer is not aware of there being any court order, or any application for a court order, that the amalgamation
not proceed.Notice to creditors in relation to an amalgamation without court approval278 (1) Before an affidavit containing the statements referred to in section 277 (3) (b) is sworn, an amalgamating company must(a) send to each known creditor of the company having a claim against the company that exceeds the prescribed amount, a written notice that
complies with subsection (2) of this section, and(b) publish in a newspaper that is distributed generally in the place where the company has its registered office a notice that complies with
subsection (2).(2) Each notice sent in respect of an amalgamating company under subsection (1) (a) and each notice published under subsection (1) (b)
must(a) declare the company's intention to amalgamate and specify the amalgamating corporations,(b) include a statement by a director or officer of the company indicating that the director or officer believes and has reasonable grounds
for believing that the amalgamated company will be, or will not be, as the case may be, insolvent when the amalgamation takes effect,
and(c) state that a creditor of the company who intends to object to the amalgamation must provide to the company a written notice of objection
within 15 days after the sending or publication of the notice, as the case may be.(3) If a creditor provides to the amalgamating company, in accordance with subsection (2) (c), a notice of objection, other than in respect
of an objection that is frivolous or vexatious, the company must, if it intends to proceed with the amalgamation,(a) provide to that creditor a written notice stating that the company intends to proceed with the amalgamation unless, within 15 days after
the date of the notice, the court orders that the amalgamation must not proceed, or(b) obtain whichever of the following court orders the company requires:(i) an order, on notice to that creditor, dismissing the objection of that creditor;(ii) an order, on notice to all creditors who have provided a notice of objection in accordance with subsection (2) (c), approving the
amalgamation.(3.1) Section 276 does not apply in respect of court orders referred to in subsection (3) (b) of this section.(4) An amalgamation application affecting the amalgamating company must not be submitted to the registrar for filing until after the 15 day
period referred to in subsection (2) (c) of this section, and, if applicable, the 15 day period referred to in subsection (3) (a), have
expired.(5) A creditor having a claim against the amalgamating company may, whether or not that creditor receives a notice under subsection (1) (a)
or (3) (a), apply to the court for an order that the proposed amalgamation not proceed.(6) An application under subsection (5) must be made on such notice to the amalgamating company as the court may order.Amalgamation279 Amalgamating corporations are amalgamated and continue as an amalgamated company under this Division(a) on the date and time that the amalgamation application referred to in section 275 (1) (a) is filed with the registrar, or(b) subject to sections 280 and 410, and unless the court orders otherwise in an entered order of which a copy has been filed with the
registrar, if the amalgamation application specifies a date, or a date and time, on which the amalgamation is to take effect that is later than the
date and time the amalgamation application is filed with the registrar,(i) on the specified date and time, or(ii) if no time is specified, at the beginning of the specified date.Withdrawal of amalgamation application280 At any time after an amalgamation application is filed with the registrar under section 275 (1) (a) and before the amalgamating corporations
are amalgamated, an amalgamating corporation or any other person who appears to the registrar to be an appropriate person to do so may withdraw the
amalgamation application by filing with the registrar a notice of withdrawal in the form established by the registrar identifying the amalgamation
application.Registrar's duties on amalgamation281 After amalgamating corporations are amalgamated as an amalgamated company under this Division, the registrar must(a) issue a certificate of amalgamation showing(i) the name of the amalgamated company and the date and time of the amalgamation,(ii) the names of the amalgamating corporations, and(iii) for each amalgamating corporation that is a foreign corporation, the foreign corporation's jurisdiction,(b) furnish to the amalgamated company(i) the certificate of amalgamation, and(ii) if requested to do so, a certified copy of the amalgamation application and a certified copy of the notice of articles of the
amalgamated company, and(c) publish in the prescribed manner a notice of the amalgamation.Effect of amalgamation282 (1) At the time that amalgamating corporations are amalgamated as an amalgamated company under this Division,(a) the amalgamation of the amalgamating corporations and their continuation as one company becomes irrevocable,(b) the amalgamated company has, as its notice of articles,(i) in the case of an amalgamation to which section 270 applies, the notice of articles contained in the amalgamation
application,(ii) in the case of an amalgamation under section 273, the notice of articles of the amalgamating holding corporation,
or(iii) in the case of an amalgamation under section 274, the notice of articles of the amalgamating company the shares of which are not
cancelled,(c) the amalgamated company has, as its articles,(i) in the case of an amalgamation to which section 270 applies, the articles attached to the amalgamation agreement under section 270 (2)
(d) (i) if those articles have been signed by one or more of the individuals identified in the amalgamation agreement as the directors of the
amalgamated company,(ii) in the case of an amalgamation to which section 270 applies and articles are not attached to the amalgamation agreement, or the
attached articles are not signed as required under section 270 (2) (d) (i), Table 1, or, if any of the amalgamating corporations is a pre-existing
reporting company,(A) Table 1, and(B) the Statutory Reporting Company Provisions,(iii) in the case of an amalgamation under section 273, the articles of the amalgamating holding corporation, or(iv) in the case of an amalgamation under section 274, the articles of the amalgamating company the shares of which are not
cancelled,(d) the amalgamated company becomes capable immediately of exercising the functions of an incorporated company,(e) the shareholders of the amalgamated company have the powers and the liability provided in this Act,(f) each shareholder of each amalgamating corporation is bound by the amalgamation agreement, if any,(g) the property, rights and interests of each amalgamating corporation continue to be the property, rights and interests of the amalgamated
company,(h) the amalgamated company continues to be liable for the obligations of each amalgamating corporation,(i) an existing cause of action, claim or liability to prosecution is unaffected,(j) a legal proceeding being prosecuted or pending by or against an amalgamating corporation may be prosecuted, or its prosecution may be
continued, as the case may be, by or against the amalgamated company, and(k) a conviction against, or a ruling, order or judgment in favour of or against, an amalgamating corporation may be enforced by or against
the amalgamated company.(2) An amalgamation does not constitute an assignment by operation of law, a transfer or any other disposition of the property, rights and
interests of an amalgamating corporation to the amalgamated company.(3) Whether or not the requirements precedent and incidental to amalgamation have been complied with, a notation in the corporate register
that corporations have been amalgamated as an amalgamated company is conclusive evidence for the purposes of this Act and for all other purposes that
the corporations have been duly amalgamated on the date shown and the time, if any, shown in the corporate register.Division 4 — Amalgamation into a Foreign JurisdictionDefinitions283 In this Division:"amalgamation" includes any procedure that results in or that creates an amalgamated foreign corporation;"amalgamated foreign corporation" means a foreign corporation that results from an amalgamation involving a company.Amalgamations into foreign jurisdictions284 (1) Subject to section 285, one or more companies and one or more foreign corporations may amalgamate to form an amalgamated foreign
corporation if(a) the laws of each of the amalgamating foreign corporations' jurisdictions allow the amalgamation,(b) each amalgamating foreign corporation obtains the approval to the amalgamation required by its charter and otherwise complies with the
laws of the foreign corporation's jurisdiction with respect to the amalgamation, and(c) each amalgamating company is authorized by its shareholders and by the registrar in accordance with this section to enter into the
amalgamation.(2) For the purposes of subsection (1) (c) of this section, an amalgamating company is authorized by its shareholders to enter into the
amalgamation when(a) all of the shareholders, whether or not their shares otherwise carry the right to vote, approve the amalgamation by a unanimous
resolution, or(b) the amalgamation is approved by the shareholders in accordance with subsection (4).(3) If the amalgamation is to be approved at a meeting under subsection (4), the amalgamating company must send a notice of the meeting to
each shareholder of the company at least the prescribed number of days before the date of the proposed meeting.(4) An amalgamation is approved by the shareholders of an amalgamating company for the purposes of subsection (2) (b) when(a) the shareholders approve the amalgamation(i) by a special resolution, or(ii) if any of the shares held by the shareholders who under subsection (5) are entitled to vote on the resolution to approve the
amalgamation do not otherwise carry the right to vote, by a resolution of the company's shareholders passed by at least a special majority of the
votes cast by the company's shareholders, and(b) the shareholders holding shares of each class or series of shares to which are attached rights or special rights or restrictions that
would be prejudiced or interfered with by the amalgamation approve the amalgamation by a special separate resolution of those
shareholders.(5) Each share of a company carries the right to vote in respect of a resolution referred to in subsection (4) (a) (ii) whether or not that
share otherwise carries the right to vote.(6) Section 61 does not apply to an amalgamation under this Division.(7) A company seeking, under subsection (1) of this section, to amalgamate with one or more foreign corporations to form an amalgamated
foreign corporation must, before entering into the amalgamation,(a) obtain and deposit in its records office an affidavit of one of its directors or officers that complies with section 277 (2) (b) and that
states that the authorization to the amalgamation required under subsection (2) of this section has been obtained, and(b) file with the registrar an application for authorization for amalgamation in the form established by the registrar containing a statement
that the affidavit required under paragraph (a) has been obtained and deposited in the company's records office.(8) Section 278 applies to an amalgamation proposed under this section.(9) Unless the court orders otherwise in an entered order of which a copy has been filed with the registrar, the registrar must authorize a
company to amalgamate with one or more foreign corporations to form an amalgamated foreign corporation if the registrar is satisfied that each
amalgamating company has filed with the registrar all of the records that the company is required to file with the registrar under this
Act.(10) The authorization given by the registrar under subsection (9) of this section expires 6 months after the date on which that
authorization was given.When amalgamation under this Division prohibited285 A company must not amalgamate with a foreign corporation to form an amalgamated foreign corporation unless the laws of the foreign
corporation's jurisdiction to which the amalgamated foreign corporation will be subject provide, in effect, that(a) the property, rights and interests of the amalgamating company continue to be the property, rights and interests of the amalgamated
foreign corporation,(b) the amalgamated foreign corporation continues to be liable for the obligations of the amalgamating company,(c) an existing cause of action, claim or liability to prosecution is unaffected,(d) a legal proceeding being prosecuted or pending by or against the amalgamating company may be prosecuted or its prosecution may be
continued, as the case may be, by or against the amalgamated foreign corporation, and(e) a conviction against, or a ruling, order or judgment in favour of or against, the amalgamating company may be enforced by or against the
amalgamated foreign corporation.After amalgamation286 (1) If a company has amalgamated with one or more foreign corporations to form an amalgamated foreign corporation, the amalgamated foreign
corporation must promptly file with the registrar a copy of any record issued to the amalgamated foreign corporation by the amalgamated foreign
corporation's jurisdiction to effect or confirm the amalgamation.(2) After a record referred to in subsection (1) is filed, the registrar must publish in the prescribed manner a notice that the company in
respect of which the record was filed has amalgamated with one or more foreign corporations to form an amalgamated foreign
corporation.(3) The company ceases to be a company within the meaning of this Act when the company is amalgamated with one or more foreign corporations
to form an amalgamated foreign corporation.Shareholders may dissent287 Any shareholder of an amalgamating company may send a notice of dissent, under Division 2 of Part 8, in respect of a resolution under section
284 (4) to approve an amalgamation under this Division, to the amalgamating company of which the person is a shareholder or, if the amalgamation has
taken effect, to the amalgamated foreign corporation.Division 5 — ArrangementsArrangement may be proposed288 (1) Despite any other provision of this Act, a company may propose an arrangement with shareholders, creditors or other persons and may, in
that arrangement, make any proposal it considers appropriate, including a proposal for one or more of the following:(a) an alteration to the memorandum, notice of articles or articles of the company;(b) an alteration to any of the rights or special rights or restrictions attached to any of the shares of the company;(c) an amalgamation of the company with one or more corporations;(d) a division of the business carried on by the company;(e) a transfer of all or any part of the money, securities or other property, rights and interests of the company to another corporation in
exchange for money, securities or other property, rights and interests of the other corporation;(f) a transfer of all or any part of the liabilities of the company to another corporation;(g) an exchange of securities of the company held by security holders for money, securities or other property, rights and interests of the
company or for money, securities or other property, rights and interests of another corporation;(h) a dissolution without liquidation, or a liquidation and dissolution, of the company;(i) a compromise between the company and its creditors or any class of its creditors, or between the company and the persons holding its
securities or any class of those persons.(2) Before an arrangement proposed under this section takes effect, the arrangement must be(a) adopted in accordance with section 289, and(b) approved by the court under section 291.Adoption of arrangement289 (1) Despite sections 264 and 265, an arrangement is adopted for the purposes of section 288 (2) (a) if,(a) in respect of an arrangement proposed with the shareholders of the company,(i) the shareholders approve the arrangement by a special resolution, or(ii) if any of the shares held by the shareholders who under subsection (2) are entitled to vote on the resolution to approve the
arrangement do not otherwise carry the right to vote, the shareholders approve the arrangement by a resolution passed at a meeting by at least a
special majority of the votes cast by the shareholders, if at least the prescribed number of days' notice of the meeting and of the intention to
propose the resolution has been sent to all of the shareholders,(b) in respect of an arrangement proposed with the shareholders holding shares of a class or series of shares of the company, those
shareholders approve the arrangement by a special separate resolution of those shareholders,(c) in respect of an arrangement proposed with some of the shareholders holding shares of a class or series of shares of the company, those
shareholders approve the arrangement by a resolution passed at a meeting by at least a special majority of the votes cast by those shareholders, if at
least the prescribed number of days' notice of the meeting and of the intention to propose the resolution has been sent to all of those
shareholders,(d) in respect of an arrangement proposed with creditors of the company or a class of creditors of the company, a majority in number and 3/4
in value of the creditors or class of creditors, as the case may be, present and voting, either in person or by proxy, approve the arrangement at a
meeting if at least 21 days' notice of the meeting, and of the intention to propose the arrangement, has been sent to all of those creditors with whom
the arrangement is proposed,(e) in respect of an arrangement proposed with any other persons, those persons approve the arrangement in the manner and to the extent
required by the court, or(f) in respect of any arrangement, all of the persons who would be entitled to vote under this section in respect of the arrangement consent
to the arrangement in writing.(2) Each share of a company carries the right to vote in respect of a resolution referred to in subsection (1) (a) (ii) whether or not that
share otherwise carries the right to vote.(3) If the court orders, under section 291 (2) (b) (i), that a meeting be held to adopt an arrangement in addition to or in substitution for
a meeting contemplated by subsection (1) of this section, the arrangement must not be submitted to the court for approval until after(a) the arrangement has been adopted at that court ordered meeting, or(b) all of the persons who were entitled to vote at that meeting consent to the arrangement in writing.(3.1) If the court orders, under section 291 (2) (b) (ii), that a separate vote of specified persons be held to adopt an arrangement in
addition to or in substitution for a meeting contemplated by subsection (1) of this section, the arrangement must not be submitted to the court for
approval until after(a) the arrangement has been adopted by that vote, or(b) all of the persons who were entitled to vote in that separate vote consent to the arrangement in writing.(4) If an arrangement is consented to under subsection (1) (f), (3) (b) or (3.1) (b),(a) the meeting or vote that would otherwise have been necessary under subsection (1), (3) or (3.1) need not be held, and(b) the consent is as valid and effective as if it had been expressed in a vote passed at a meeting.(5) Section 61 does not apply to an arrangement under this Division.Information regarding arrangement290 (1) If a meeting is called to adopt an arrangement, the company must, unless the court orders otherwise,(a) include with any notice of the meeting that is sent to a person who is entitled to vote at the meeting, a statement(i) explaining, in sufficient detail to permit the recipient to form a reasoned judgment concerning the matter, the effect of the
arrangement, and(ii) stating any material interest of each director and officer, whether as director, officer, shareholder, security holder or creditor of
the company, or otherwise, and(b) include in any advertisement of the meeting,(i) the statement required by paragraph (a), or(ii) a notification that the persons who are entitled to vote at the meeting may, on request, obtain copies of the statement before the
meeting.(2) If the arrangement affects the rights of qualifying debentureholders, the statement referred to in subsection (1) (a) must, unless the
court orders otherwise or unless the trustee for the qualifying debentureholders is a savings institution, include a statement regarding any material
interest of the trustee for the qualifying debentureholders.(3) A company that has included in an advertisement referred to in subsection (1) (b) a notification that copies of the statement referred
to in subsection (1) (a) may be obtained must, unless the court orders otherwise, send, promptly and without charge, a copy of the statement to each
person entitled to vote at the meeting who requests a copy.(4) Section 50 applies if a person who is entitled to receive a copy of the statement referred to in subsection (1) (a) of this section does
not receive the copy.Role of court in arrangements291 (1) If an arrangement is proposed, the court may make an order respecting that arrangement under subsection (2)(a) on its own motion,(b) on the application of the company, or(c) on the application, made on notice to the company, of(i) a shareholder of the company,(ii) a creditor of the company, or(iii) a person who is a member of the class of persons with whom the arrangement is proposed.(2) The court may, in respect of a proposed arrangement, make any order it considers appropriate, including any of the following
orders:(a) an order determining the notice to be given to any interested person, or dispensing with notice to any person, in relation to any
application to court under this Division;(b) an order requiring the company to do one or both of the following in the manner and with the notice the court directs:(i) call, hold and conduct one or more meetings of the persons the court considers appropriate;(ii) hold a separate vote of the persons the court considers appropriate;(c) an order permitting shareholders to dissent under Division 2 of Part 8 or in any other manner the court may direct;(d) an order appointing a lawyer, at the expense of the company, to represent the interests of some or all of the
shareholders;(e) an order directing that an arrangement proposed with the creditors or a class of creditors of the company be referred to the shareholders
of the company in the manner and for the approval the court considers appropriate.(3) As part of any order made in respect of a company under subsection (2) (c) of this section, the court may direct the company to provide,
in the manner specified by the order, a copy of the entered order to all or specified shareholders.(4) Without limiting subsections (1) to (3) but despite any other provision of this Act, on an application to court for approval of the
arrangement,(a) if the arrangement has been adopted under section 289 and, if required, approved by the shareholders in accordance with an order made
under subsection (2) (e) of this section, the court may make an order approving the arrangement on the terms presented or substantially on those terms
or may refuse to approve that arrangement,(b) if, under the arrangement, money, securities or other property, rights or interests, or liabilities, of the company are to be transferred
to another corporation, the court may make(i) an order providing for the allotment or appropriation by the receiving corporation of any shares or other securities that, under the
arrangement, are to be allotted or appropriated to or for any person,(ii) an order providing for the continuation by or against the receiving corporation of any legal proceedings pending by or against the
transferring company, or(iii) an order providing for the dissolution of the transferring company, and(c) the court may make any incidental, consequential and supplemental orders necessary to ensure that the arrangement is fully and
effectively carried out.(5) If an order of the court made under this section provides for the transfer of money, securities or other property, rights or interests,
or liabilities, of the company,(a) the money, securities or other property, rights or interests are deemed to be transferred to and to vest in the receiving corporation, or
the liabilities are deemed to be transferred to and become the liabilities of the receiving corporation, when the applicable provisions of the order
take effect, and(b) any particular money, securities or other property, rights or interests that are, by the arrangement, to be freed from any charge are
freed from that charge if the order so directs.Required filings292 Subject to sections 293 and 294, if any of the provisions of an arrangement that is approved by a court order under section 291 will, on
taking effect, alter information shown in the corporate register, the company must(a) provide to the registrar the records and information the registrar requires, and file with the registrar the records the registrar
requires, to give effect to each provision of the arrangement that will alter information shown in the corporate register, and(b) concurrently with the first record filed under paragraph (a), file with the registrar a copy of the entered court order.Obligations on company if memorandum altered293 (1) This section applies if(a) the company in respect of which an arrangement has been approved by a court order under section 291 is a pre-existing company that has
not complied with section 370 or 436, and(b) a provision of the arrangement will, on taking effect, alter the company's memorandum or otherwise affect the company so that information
contained in its memorandum is incorrect or incomplete.(2) In the circumstances referred to in subsection (1) of this section, the company must, promptly after the making of the order and before
complying with section 292, comply with section 370 or 436, as the case may be.Obligations on company if articles altered294 (1) This section applies if an arrangement is approved by a court order under section 291 and a provision of the arrangement will, on taking
effect, alter the company's articles or otherwise affect the company so that information contained in its articles is incorrect or
incomplete.(2) In the circumstances referred to in subsection (1) of this section, if the company is a pre-existing company that has not complied with
section 370 or 436, the company must, promptly after the making of the order and before complying with section 292, comply with section 370 or 436, as
the case may be.(3) Promptly after the making of an order referred to in subsection (1) of this section and, in the case of a company to which subsection
(2) applies, after compliance by the company with subsection (2), the company must alter its articles in accordance with the order by depositing a
copy of the entered order at the company's records office.(4) Section 259 (4) to (6) applies to an alteration to the articles referred to in subsection (3) of this section, including, without
limiting this, to a change of name or an adoption or change of any translation of name, and, for that purpose, a reference in section 259 (4) to (6)
to a resolution is deemed to be a reference to the court order obtained under section 291.If arrangement includes amalgamation295 (1) If a provision of an arrangement approved by a court order under section 291 will, on taking effect, result in an amalgamation under
which a company and one or more corporations amalgamate and continue as one company, the court may, by order, provide for the incidental,
consequential and supplemental matters necessary to ensure that the amalgamation is fully and effectively carried out and, without limiting this, may
make orders respecting the articles, notice of articles, directors, registered office and records office applicable to the amalgamated
company.(2) On an amalgamation referred to in subsection (1), the amalgamated company has, as its articles,(a) the articles ordered by the court, or(b) if paragraph (a) of this subsection does not apply,(i) Table 1, or(ii) if any of the amalgamating corporations is a pre-existing reporting company, Table 1 and the Statutory Reporting Company
Provisions.Application of Act to arrangements296 The provisions of this Act that set out the effect of an alteration to the notice of articles, an amalgamation, a liquidation or another
occurrence of a particular type, including the provisions that impose obligations on the registrar in relation to occurrences of that type and the
provisions respecting when the occurrence takes effect, apply to an occurrence of that type that is effected under an arrangement.Binding effect of arrangements297 (1) On and from the time at which a provision of an arrangement takes effect, the provision is binding on the company and on the persons
with whom the arrangement was proposed.(2) Nothing in this section affects the rights of a company and a dissenter under Division 2 of Part 8.Abandoning arrangements298 (1) A company may abandon an arrangement if(a) the directors pass a resolution resolving not to proceed with the arrangement,(b) the arrangement is abandoned before any of the provisions of the arrangement take effect, and(c) any records filed with the registrar in relation to the arrangement are withdrawn.(2) Neither the company nor the shareholders, creditors or other persons with whom an arrangement is proposed are bound by the provisions of
the arrangement if the company abandons the arrangement in accordance with subsection (1).(3) Promptly after the company abandons an arrangement in accordance with subsection (1), the directors must send notice to that effect to
the shareholders, creditors or other persons with whom the arrangement was proposed.Withdrawal of arrangement records299 (1) Subject to subsection (2), at any time after records referred to in section 292 are filed with the registrar, the company or any other
person who appears to the registrar to be an appropriate person to do so may withdraw those records by filing with the registrar a notice of
withdrawal in the form established by the registrar identifying those records.(2) Records filed under section 292 must not be withdrawn unless(a) all of the records filed under section 292 are withdrawn under subsection (1) of this section, and(b) the records are withdrawn under subsection (1) before any of the provisions of the arrangement take effect.Division 6 — Compulsory AcquisitionsAcquisition procedures300 (1) In this section:"acquiring person" means a person who, under a scheme or contract, makes an acquisition offer, and includes 2 or more persons who, directly or indirectly,(a) make an acquisition offer jointly or in concert, or(b) intend to exercise jointly or in concert voting rights attached to shares for which an acquisition offer is made;"acquisition offer" means an offer made by an acquiring person to acquire shares, or any class of shares, of a company;"offeree", in respect of an acquisition offer, means a shareholder to whom the acquisition offer is made;"subject company" means the company, shares or any class of shares of which are the subject of an acquisition offer.(2) For the purposes of this section,(a) every acquisition offer for shares of more than one class of shares is deemed to be a separate acquisition offer for shares of each class
of shares, and(b) each acquisition offer is accepted if, within 4 months after the making of the offer, the offer is accepted regarding the shares, or
regarding each class of shares involved, by shareholders who, in the aggregate, hold at least 9/10 of those shares or of the shares of that class of
shares, other than shares already held at the date of the offer by, or by a nominee for, the acquiring person or its affiliate.(3) If an acquisition offer is accepted within the meaning of subsection (2) (b), the acquiring person may, within 5 months after making the
offer, send written notice to any offeree who did not accept the offer, that the acquiring person wants to acquire the shares of that offeree that
were involved in the offer.(4) If a notice is sent to an offeree under subsection (3), the acquiring person is entitled and bound to acquire all of the shares of that
offeree that were involved in the offer for the same price and on the same terms contained in the acquisition offer unless the court orders otherwise
on an application made by that offeree within 2 months after the date of the notice.(5) On the application of an offeree under subsection (4), the court may(a) set the price and terms of payment, and(b) make consequential orders and give directions the court considers appropriate.(6) If a notice has been sent by an acquiring person under subsection (3) and the court has not ordered otherwise under subsection (4), the
acquiring person must, no earlier than 2 months after the date of the notice, or, if an application to the court by the offeree to whom the notice was
sent is then pending, at any time after that application has been disposed of,(a) send a copy of the notice to the subject company, and(b) pay or transfer to the subject company the amount or other consideration representing the price payable by the acquiring person for the
shares that are referred to in the notice.(7) On receiving the copy of the notice and the amount or other consideration referred to in subsection (6), the subject company must
register the acquiring person as a shareholder with respect to those shares.(8) Any amount received by the subject company under this section must be paid into a separate account at a savings institution and,
together with any other consideration so received, must be held by the subject company, or by a trustee approved by the court, in trust for the
persons entitled to that sum.(9) If the acquiring person has not, within one month after becoming entitled to do so, sent the notice referred to in subsection (3), the
acquiring person must send a written notice to each offeree referred to in subsection (3) stating that the offeree, within 3 months after receiving
the notice, may require the acquiring person to acquire the shares of that offeree that were involved in the acquisition offer.(10) If an offeree requires the acquiring person to acquire the offeree's shares in accordance with subsection (9), the acquiring person must
acquire those shares for the same price and on the same terms contained in the acquisition offer.Division 7 — Disposal of UndertakingPower to dispose of undertaking301 (1) A company must not sell, lease or otherwise dispose of all or substantially all of its undertaking unless(a) it does so in the ordinary course of its business, or(b) it has been authorized to do so by a special resolution.(2) If the company contravenes subsection (1) in respect of a disposition of all or substantially all of a company's undertaking, the court,
on the application of any shareholder, director or creditor of the company, may, unless subsection (3) applies, do one or more of the
following:(a) enjoin the proposed disposition;(b) set aside the disposition;(c) make any other order the court considers appropriate.(3) A disposition of all or substantially all of the undertaking of a company is not invalid merely because the company contravenes
subsection (1), if the disposition is(a) for valuable consideration to a person who is dealing with the company in good faith, or(b) ratified by a special resolution.(4) Despite the passing of a special resolution under subsection (1) (b) or (3) (b) to authorize or ratify a disposition of all or
substantially all of the undertaking of a company, the directors may abandon the disposition without further action by the
shareholders.(5) Any shareholder of the company may send notice of dissent, under Division 2 of Part 8, to the company in respect of a special resolution
under subsection (1) (b) or (3) (b).(6) The prohibition in subsection (1) does not apply to a disposition of all or substantially all of the undertaking of the
company(a) by way of security interest,(b) by a lease if(i) the term of the lease, at its beginning, does not exceed 3 years, and(ii) any option or covenant for renewal included in the lease is not capable of extending the total lease periods beyond 3
years,(c) to a corporation that is a wholly owned subsidiary of the company,(d) to a corporation of which the company is a wholly owned subsidiary,(e) to a corporation if the company and the corporation are(i) wholly owned subsidiaries of the same holding corporation, or(ii) wholly owned by the same person, or(f) to the person, other than a corporation, who holds all of the shares of(i) the company, or(ii) a corporation of which the company is a wholly owned subsidiary.Division 8 — Transfer of IncorporationApplication for continuation into British Columbia302 (1) If a foreign corporation seeks to be continued into British Columbia as a company, whether or not the foreign corporation is registered
as an extraprovincial company,(a) the foreign corporation must file with the registrar a continuation application,(b) the foreign corporation must provide to the registrar the records and information the registrar may require, including, without
limitation, any proof required by the registrar regarding the standing of the foreign corporation in the foreign corporation's jurisdiction, and must
file with the registrar any records the registrar may require, including, without limitation, an authorization for the continuation from the foreign
corporation's jurisdiction, and(c) one or more of the directors of the foreign corporation must sign the articles that the foreign corporation will have once it is continued into British Columbia as a company, which articles must comply with section 12 (1) and (2) and, if the continued company is to be a community contribution company, section 51.92.(2) A continuation application under subsection (1) (a) of this section must(a) be in the form established by the registrar,(b) set out(i) the name reserved for the continued company under section 22, and the reservation number given for it, or(ii) if a name is not reserved, a statement that the name by which the continued company is to be recognized is the name
created,(A) in the case of a limited company, by adding "B.C. Ltd." or, if the company is a community contribution company, "B.C. Community Contribution Company Ltd." after the incorporation number of the company, or(B) in the case of an unlimited liability company, by adding "B.C. Unlimited Liability Company" after the incorporation number of the company,
and(c) contain a notice of articles that reflects the information that will apply to the continued company on its recognition.(3) A foreign corporation seeking to be continued into British Columbia as a company may, by one or both of the articles referred to in
subsection (1) (c) of this section and the notice of articles referred to in subsection (2) (c), effect any amendment to its charter if the amendment
is an amendment that a company may make to its charter under this Act.Continuation303 (1) A foreign corporation is continued into British Columbia as a company(a) on the date and time that the continuation application referred to in section 302 (1) (a) is filed with the registrar, or(b) subject to sections 304 and 410, if the continuation application specifies a date, or a date and time, on which the continuation is to
take effect that is later than the date and time on which the continuation application is filed with the registrar,(i) on the specified date and time, or(ii) if no time is specified, at the beginning of the specified date.(2) After a foreign corporation is continued into British Columbia as a company, the registrar must(a) issue a certificate of continuation showing the name of the continued company and the date and time on which it was continued into
British Columbia as a company,(b) furnish to the continued company(i) the certificate of continuation, and(ii) if requested to do so, a certified copy of the continuation application and a certified copy of the continued company's notice of
articles, and(c) publish in the prescribed manner a notice of the continuation.(3) Without limiting section 111 (1), after a foreign corporation is continued into British Columbia as a company, the continued company
must register in its central securities register the shares of the company that were held by shareholders of the corporation immediately before its
continuation, and, with respect to those shares, must register(a) the name and last known address of each of those shareholders,(b) the class, and any series, of those shares, and(c) the number of those shares held by each of those shareholders.Withdrawal of continuation application304 At any time after a continuation application is filed with the registrar under section 302 (1) (a) and before a foreign corporation is
continued into British Columbia as a company, the foreign corporation or any other person who appears to the registrar to be an appropriate person to do
so may withdraw the continuation application by filing with the registrar a notice of withdrawal in the form established by the registrar identifying
the continuation application.Effect of continuation305 (1) At the time that a foreign corporation is continued into British Columbia as a company under this Division,(a) this Act applies to the continued company to the same extent as if the company had been incorporated under this Act,(a.1) the continued company has, as its notice of articles, the notice of articles contained in the continuation application,(b) the property, rights and interests of the foreign corporation continue to be the property, rights and interests of the
company,(c) the company continues to be liable for the obligations of the foreign corporation,(d) an existing cause of action, claim or liability to prosecution is unaffected,(e) a legal proceeding being prosecuted or pending by or against the foreign corporation may be prosecuted or its prosecution may be
continued, as the case may be, by or against the company, and(f) a conviction against, or a ruling, order or judgment in favour of or against, the foreign corporation may be enforced by or against the
company.(2) Whether or not the requirements precedent and incidental to continuation have been complied with, a notation in the corporate register
that a foreign corporation has been continued into British Columbia as a company is conclusive evidence for the purposes of this Act and for all other
purposes that the foreign corporation has been duly continued into British Columbia as a company on the date shown and the time, if any, shown in the
corporate register.Rights preserved306 (1) In this section, "share" includes a warrant, fractional share or evidence of an interest in or a right to acquire an interest
in a foreign corporation being continued into British Columbia as a company.(2) If a foreign corporation continued into British Columbia as a company under this Division issued a share before the foreign corporation
was so continued, the share is deemed to have been issued in compliance with this Act and with the provisions of the articles applicable to the
continued company under section 307,(a) whether or not the share is fully paid, and(b) despite any special rights or restrictions attached to the share.(3) Continuation of a foreign corporation into British Columbia as a company under this Division does not deprive a person holding an issued
share of the foreign corporation of any right or special rights or restrictions that that person claims under, or relieve the person from any
liability in respect of, that share.Articles for a continued company307 When a foreign corporation is continued into British Columbia as a company, the continued company has, as its articles,(a) if one or more of the directors of the foreign corporation have signed articles for the continued company in accordance with section 302
(1) (c), those articles, or(b) in any other case, Table 1.Application for continuation out of British Columbia308 (1) Subject to section 310, a company may, if it is authorized by the shareholders and by the registrar in accordance with this section,
make an application to the appropriate official or public body of another jurisdiction requesting that the company be continued into that other
jurisdiction as if the company had been incorporated under the laws of that other jurisdiction.(2) A company is authorized by the shareholders to apply for continuation into a jurisdiction other than British Columbia when the
shareholders authorize the continuation by a special resolution.(3) Section 61 does not apply to a continuation under this section.(4) A company seeking, under subsection (1) of this section, to be continued into a foreign jurisdiction must, before applying to that
foreign jurisdiction for continuation into that jurisdiction, apply to the registrar for an authorization under subsection (5).(5) The registrar must authorize the company to continue into the foreign jurisdiction if the registrar is satisfied that the company has
filed with the registrar all of the records that the company is required to file with the registrar under this Act.(6) The authorization given by the registrar under subsection (5) of this section expires 6 months after the date on which that
authorization was given.Shareholders may dissent309 Any shareholder of a company may send a notice of dissent, under Division 2 of Part 8, in respect of a resolution under section 308 (2) to
authorize the continuation of the company into a jurisdiction other than British Columbia, to the company or, if the continuation has taken effect, to
the continued corporation.When continuation out of British Columbia prohibited310 A company must not apply to be continued into another jurisdiction unless the laws of that other jurisdiction provide, in effect, that, after
continuation,(a) the property, rights and interests of the company continue to be the property, rights and interests of the continued
corporation,(b) the continued corporation continues to be liable for the obligations of the company,(c) an existing cause of action, claim or liability to prosecution is unaffected,(d) a legal proceeding being prosecuted or pending by or against the company may be prosecuted or its prosecution may be continued, as the
case may be, by or against the continued corporation, and(e) a conviction against, or a ruling, order or judgment in favour of or against, the company may be enforced by or against the continued
corporation.After continuation311 (1) Promptly after the date on which a company is continued into another jurisdiction, the continued corporation must file with the
registrar a copy of any record issued to it by the other jurisdiction to effect or confirm the continuation.(2) After a record referred to in subsection (1) is filed, the registrar must publish in the prescribed manner a notice that the company in
respect of which the record was filed has been continued into that other jurisdiction.(3) The company ceases to be a company within the meaning of this Act when the company is continued into the other
jurisdiction.Contents | 1 | 2 | 2.1 | 2.2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | ScheduleCopyright (c) Queen's Printer, Victoria, British	Columbia, Canada