Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
243 Prohibited shareholdings
(a) must not hold shares in itself or in its holding body
corporate, and
(b) must not permit any of its subsidiaries to hold shares in the
company or in the holding body corporate of the company
except in accordance with this section and sections 244 to 248
unless the Minister consents to the holding.
(2) A provincial company may in the capacity of personal
representative hold shares in itself or in its holding body corporate
so long as the company or the holding body corporate or a
subsidiary of either of them does not have a beneficial interest in
the shares.
(3) A provincial company may hold shares in itself or in its
holding body corporate by way of security for the purposes of a
transaction entered into by it in the ordinary course of its business.
RSA 2000
(4) A provincial company holding shares in itself or in its holding
body corporate must not vote or permit those shares to be voted
unless the company
(a) holds the shares in the capacity of personal representative,
and
(b) has complied with section 307.
1999 cI-5.1 s243