Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
242 Other Matters Conversion privileges, options and rights
other evidences of conversion privileges or options or rights to
acquire securities of the company and must set out the conditions to
which the conversion privileges, options or rights are subject
(a) in the certificates, warr ants or other evidences, or
(b) in certificates evidencing the securities to which the
conversion privileges, options or rights are attached.
(2) Conversion privileges and options or rights to purchase
securities of a provincial company 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 provincial company has granted privileges to convert any
securities issued by the company into shares, or into shares of
another class or series, or has issued or granted options or rights to
acquire shares, the company must reserve and continue to reserve
sufficient authorized shares to meet the exercise of those
conversion privileges, options and rights.
1999 cI-5.1 s242