Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
269 Record date
(a) shareholders entitled to r eceive payment of a dividend,
(b) participating policyholders or shareholders entitled to
participate in a liquidation distribution,
(c) who is a shareholder for any other purpose except the right
to receive notice of, or to vote at, a meeting, or
(d) who is a policyholder for any other purpose except
(i) the right to receive notice of, or to vote at, a meeting,
(ii) the right to receive payment of a policy dividend or
bonus, and
(iii) any purpose for wh ich the determination of
policyholders is governed by contract,
the directors may fix in advance a date as the record date for the
determination of policyholders or shareholders, but the record date
so fixed must not precede the particular action to be taken by more
than 50 days.
(2) If no record date is fixed under subsection (1) for the
determination of policyholders or shareholders for any purpose for
which a record date could have been fixed under that subsection,
the record date for the determination of policyholders or
shareholders for that purpose is the date on which the directors pass
the resolution relating to that purpose.
RSA 2000
(3) For the purpose of determining participating policyholders
entitled to receive notice of a meeting of participating
policyholders, the directors may fix in advance a date as the record
date for the determination of participating policyholders, but the
record date so fixed must not precede the date on which the
meeting is to be held by more than 90 days or less than 21 days.
(4) If no record date is fixed under subsection (3) for the
determination of participating policyholders entitled to receive
notice of a meeting, the record date for that purpose is
(a) the day immediately before the day on which the notice is
given, or
(b) if no notice is given, the day on which the meeting is held.
(5) Before a meeting of participating policyholders, the directors
may fix a date as the record date for the purpose of determining
participating policyholders entitled to vote at the meeting, and that
record date must not be more than 10 days before the date on which
the meeting is to be held.
(6) If no record date is fixed under subsection (5) for the
determination of participating policyholders entitled to vote at a
meeting, the record date for that purpose is the day on which the
meeting is held.
(7) For the purpose of determining shareholders entitled to receive
notice of and to vote at a meeting of shareholders, the directors
may fix in advance a date as the record date for the determination
of shareholders, but the record date so fixed must not precede the
date on which the meeting is to be held by more than 50 days or
less than 21 days.
(8) If no record date is fixed under subsection (7) for the
determination of shareholders entitled to receive notice of and to
vote at a meeting, the record date for the determination of
shareholders entitled to receive notice of and to vote at the meeting
is
(a) the day immediately before the day on which the notice is
given, or
(b) if no notice is given, the day on which the meeting is held.
(9) Subject to subsections (10) and (11), where a record date is
fixed for a provincial company, notice of the record date must be
given not less than 7 days before the record date
RSA 2000
(a) by advertisement in a newspaper in general circulation in
the place where the head office of the company is located
and in each place in Canada where the company has a
transfer agent or where a transfer of the company's shares
may be recorded, and
(b) by written notice to each recognized stock exchange in
Canada on which the shares of the company are listed for
trading.
(10) Notice of a record date fixed for a provincial company need
not be given if
(a) the company has no participating policyholders or notice of
the record date is waived in writing by every participating
policyholder who holds a policy at the close of business on
the date the directors fix as the record date, and
(b) notice of the record date is waived in writing by every
holder of a share of the class or series affected whose name
is set out in the central securities register at the close of
business on the date the directors fix as the record date.
(11) Where the bylaws provide, a provincial company is not
required to give notice by advertisement in a newspaper under
subsection (9) of a record date for the determination of
participating policyholders or shareholders entitled to receive
notice of a meeting of participating policyholders or shareholders if
the record date is included in the notice of the meeting.
1999 cI-5.1 s269