Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
236 Shares in series
the directors of a provincial company may authorize the issue of
any class of shares, other than common shares, in one or more
series, and they may fix the number of shares in, and determine the
designation, rights, privileges, restrictions and conditions attaching
to the shares of, each series.
(2) If any cumulative dividends or amounts payable on return of
capital in respect of a series of shares are not paid in full, the shares
of all series of the same class participate ratably in respect of
accumulated dividends and return of capital.
(3) No rights, privileges, restrictions or conditions attached to a
series of shares authorized under this section confer on shares of a
series
RSA 2000
(a) greater voting rights than are attached to shares of any other
series in the same class that are then outstanding, or
(b) a priority in respect of dividends or return of capital over
shares of any other series in the same class that are then
outstanding.
(4) Subsection (3) does not apply to a right or privilege to
exchange a share or shares for, or to convert a share or shares into,
a share or shares of another class.
1999 cI-5.1 s236