Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
275 Refusal of proposal
notice of the meeting, the company must, within 10 days after
receiving the proposal, notify the participating policyholder or
shareholder submitting the proposal of its intention not to attach the
proposal to the notice of the meeting and send to the participating
policyholder or shareholder a statement of the reasons for the
refusal.
(2) On the application of a participating policyholder or
shareholder claiming to be aggrieved by a provincial company's
refusal under subsection (1), the Court may restrain the holding of
the meeting at which the proposal is sought to be presented and
make any further order it thinks fit.
(3) A provincial company or any person claiming to be aggrieved
by a proposal may apply to the Court for an order permitting the
company not to attach the notice of proposal to the notice of the
meeting, and the Court, if it is satisfied that section 274(5) applies,
may make any order it thinks fit.
(4) An applicant under subsection (2) or (3) must give the Minister
written notice of the application, and the Minister may appear and
be heard at the hearing of the application in person or by counsel.
1999 cI-5.1 s275