Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
166 Effect of certificate
issued under section 165,
(a) the amalgamation of the appl icants and their continuance as
one provincial company are effective;
(b) the property of each appli cant is the property of the
amalgamated company;
RSA 2000
(c) the amalgamated company is liable for the obligations of
each applicant;
(d) any existing cause of action, claim or liability to prosecution
is unaffected;
(e) any civil, criminal or administrative action or proceeding
pending by or against an applicant may be prosecuted by or
against the amalgamated company;
(f) any conviction against or ruling, order or judgment in favour
of or against an applicant may be enforced by or against the
amalgamated company;
(g) if any director or officer of an applicant continues as a
director or officer of the amalgamated company, any
disclosure of a material interest in any contract made to the
applicant by that director or officer is deemed to be
disclosure to the amalgamated company;
(h) the certificate of amalgamation is the instrument of
incorporation of the amalgamated company.
(2) Any deemed disclosure under subsection (1)(g) must be
recorded in the minutes of the first meeting of the directors of the
amalgamated company.
1999 cI-5.1 s166