Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
200 Final accounts
after paying or making adequate provision for all claims against the
provincial company, the liquidator must apply to the Court
(a) for approval of the final accounts of the liquidator and for an
order permitting the distribution, in money or in kind, of the
remaining property of the company to its shareholders, if
any, or to the incorporators, according to their respective
rights, or
(b) for an extension of time.
(2) If a liquidator fails to make the application required by
subsection (1), a shareholder of the provincial company or, if there
are no shareholders of the company, an incorporator may apply to
the Court for an order for the liquidator to show cause why a final
accounting and distribution should not be made.
RSA 2000
(3) A liquidator must give notice of the liquidator's intention to
make an application under subsection (1) to the Minister, to each
inspector and referee appointed under section 193, to each
shareholder of the provincial company or, if there are no
shareholders, to each incorporator and to any person who provided
a financial guarantee for the liquidation.
(4) The liquidator must publish the notice required under
subsection (3) in The Alberta Gazette and once a week for two
consecutive weeks in one or more newspapers in general
circulation in each province or territory in which the provincial
company has transacted business within the preceding 12 months
or as otherwise directed by the Court.
1999 cI-5.1 s200