CPA · Business Corporations Act
Part 5 — Corporate Finance
31 Options and other rights to acquire securities
evidences of conversion privileges, options or rights to acquire
securities of the corporation, and shall set out their conditions
(a) in the certificates, war rants or other evidences, or
(b) in certificates evidencing the securities to which the
conversion privileges, options or rights are attached.
(2) Conversion privileges, options and rights to purchase securities
of a corporation may be made transferable or non-transferable, and
options and rights to purchase may be made separable or
inseparable from any securities to which they are attached.
(3) If a corporation has granted privileges to convert any securities
issued by the corporation into shares, or into shares of another class
or series, or has issued or granted options or rights to acquire
shares, the corporation shall reserve and continue to reserve
sufficient authorized shares to meet the exercise of those
conversion privileges, options and rights.
1981 cB-15 s29