Part 9 — Security Certificates, Registers and Transfers Division 1 Interpretation and Application
165 Contents of certificate for investment share
cooperative that is authorized to issue shares of more than one class
or series must clearly state
(a) the rights, privileges, r estrictions and conditions attached to
the investment shares of each class and series that exist
when the share certificate is issued, or
(b) that the class or series of investment shares that it represents
has rights, privileges, restrictions or conditions attached to it
and that the cooperative will provide an investment
shareholder, on demand and without charge, with a full copy
of the text of
(i) any rights, privileges, restrictions and conditions
attached to each class or series of investment shares
authorized to be issued that have been fixed by the
directors, and
(ii) the authority of the directors to fix the rights, privile ges,
restrictions and conditions of subsequent series.
(2) If a share certificate for an investment share contains the
statement referred to in subsection (1)(b), the cooperative must
provide the investment shareholder, on demand and without
charge, with a copy of
(a) the rights, privileges, r estrictions and conditions attached to
each class or series of investment shares authorized to be
issued, and
(b) the authority of the directors to fix the rights, privileg es,
restrictions and conditions of subsequent series of
investment shares in the same class.