MHHS · Business Corporations Act
Part 5 — Corporate Finance
26 Shares and classes of shares
including nominal or par value.
(2) If a body corporate is continued under this Act, a share with
nominal or par value issued by the body corporate before it was so
continued is, for the purpose of subsection (1), deemed to be a
share without nominal or par value.
(3) If a corporation has only one class of shares, the rights of the
holders of those shares are equal in all respects and include the
rights
(a) to vote at any meeting of shareholders of the corporation,
(b) to receive any dividend d eclared by the corporation, and
(c) to receive the remaining p roperty of the corporation on
dissolution.
(4) The articles may provide for more than one class of shares and,
if they so provide,
(a) the rights, privileges, r estrictions and conditions attaching to
the shares of each class shall be set out in the articles, and
(b) the rights set out in subsection (3) shall be attached to at
least one class of shares but all of those rights are not
required to be attached to one class.
(5) Subject to section 29, if a corporation has more than one class
of shares, the rights of the holders of the shares of any class are
equal in all respects.
(6) The articles may provide that 2 or more classes of shares, or 2
or more series within a class of shares, have the same rights,
privileges, restrictions and conditions.
RSA 2000 cB-9 s26;2021 c18 s11
December 2023
signatures, 48(4)-(6), 259(1)
societies
revivals, 208, 210, 247
spouse, defined, 1(ii.1)
standard of care
directors and officer, 122(1)
receiver-managers, 98
trust indentures, trustees, 90-92
statements
liquidation and dissolution, 212, 267
names, regulations, 266
stay of proceedings
business corporations, liquidation or
dissolution, 207
subsidiaries
amalgamations, 184
deemed, 2(4)
financial assistance, 45(4)(d)
financial documents, filing, 160
financial statements, 157
shares held by, restrictions, 32
survivorship
securities, joint ownership, 50(6)
take-over bids, 194-206
compulsory acquisition, 195-198
corporate offer to repurchase own
shares, 206
Court
to fix fair value, 202-204
multiple applications, 201
offeror's right to apply to, 199-
200
powers and duties, 202-205
security for costs, 200
deemed date, 195(1)
deemed insiders, 127-128
definitions
dissenting offerees, 194(a)
offer, 194(b)
offeree corporation, 194(d)
offerees, 194(c)
offeror, 194(e)
share, 194(f)
take-over bid, 194(g)
offeree corporation's obligations,
198
offeror's notices, 196
offeror's right to apply to Court,
199-200
payment of money, 197
surrender of share certificate, 197
telecommunications. See electronic
communications
time
Board of the Alberta Securities
Commission, under Act,
documents, service, 257
records, inspection, 20(6)
subsidiaries' records, inspection,
157(2)
Traffic Safety Act, 277(1)(g-h)
transfers of securities, 47. See also
Securities Transfer Act
trust companies
extra-provincial companies, under
Act, application, 278(b)
securities registers, maintenance,
appointment as agent, 49(3)
trust indenture trustees, as, 83
trust indentures
application under Act, 81(2)
debt obligations, issuance under, 86,
88
defined, 81(1)(c)
event of default, defined, 81(1)(a)
open-end mutual fund defined,
28(13)
security holders' lists, access, 84
terms, restrictions, 92
trustees
appointment, restrictions, 82
conflict of interest, 82
debt obligations, issuers or
guarantors, compliance,
evidence, 85, 88
default, notice, 89
defined, 81(1)(b)
liability, 91
securities, certificates, signatures,
48(4)-(6)
standard of care, 90, 92
trust companies as, 83