Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
244 Restrictions on acquisition of shares
purchase, acquisition or redemption for cancellation of voting
shares by a provincial company under section 245, 246 or 247 if
the purchase, acquisition or redemption of the voting shares
(a) would cause a person to have a significant interest in those
voting shares or would increase the significant interest of a
person in those voting shares, or
(b) would cause the combined holdings of a person and a person
related to that person to amount to a significant interest in
those voting shares or would increase the significant interest
of a person and a related person in those voting shares.
(2) Despite subsection (1), in the case of a purchase, acquisition or
redemption of shares referred to in subsection (1),
(a) section 259 does not apply, and
(b) the provincial company must make the application referred
to in section 262(1).
1999 cI-5.1 s244