Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
272 Special business
participating policyholders or shareholders are special business
except the election of directors and consideration of
(a) the financial statements,
(b) the auditor's report,
RSA 2000
(c) the actuary's report,
(d) the remuneration of directors and reappointment of the
incumbent auditor, or
(e) the description of the roles of the actuary and the auditor in
the preparation and audit of the financial statements.
(2) Notice of a meeting of participating policyholders or
shareholders of a provincial company at which special business is
to be transacted must
(a) state the nature of the special business in sufficient detail to
permit a participating policyholder or shareholder to form a
reasoned judgment on the nature of the special business,
(b) contain the text of any special resolution to be submitted to
the meeting, and
(c) state, where a management proxy circular is sent to
shareholders concurrently with the notice, that a
participating policyholder is entitled on request to receive a
copy of the management proxy circular.
(3) The Minister may exempt a provincial company from the
application of subsection (2)(b) in relation to participating
policyholders on condition that, instead of sending the
policyholders the text of a special resolution to be submitted to a
meeting, the company send the policyholders a summary of the
text.
(4) The text of a special resolution may be amended at a meeting
of participating policyholders or shareholders if the amendments
correct manifest errors or are not material.
1999 cI-5.1 s272