CPA · Business Corporations Act
Part 5 — Corporate Finance
30 Shareholder's pre-emptive right
provides, no shares of a class shall be issued unless the shares have
first been offered to the shareholders holding shares of that class,
and those shareholders have a pre-emptive right to acquire the
offered shares in proportion to their holdings of the shares of that
class, at the same price and on the same terms as those shares are to
be offered to others.
(2) Notwithstanding that the articles provide the pre-emptive right
referred to in subsection (1), shareholders have no pre-emptive
right in respect of shares to be issued
(a) for a consideration other than money,
(b) as a share dividend, or
RSA 2000
(c) pursuant to the exercise of conversion privileges, options or
rights previously granted by the corporation.
1981 cB-15 s28