Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
361 Contribution
director's liability under section 360 is entitled to contribution from
the other directors who voted for or consented to the unlawful act
on which the judgment was founded.
(2) A director who is liable under section 360 is entitled to apply
to the Court for an order compelling a shareholder or other person
to pay or deliver to the director
(a) any money or property that was paid or distributed to the
shareholder or other person in contravention of section 245,
246, 247, 249, 253 or 365, or
(b) an amount equal to the va lue of the loss suffered by the
provincial company as a result of any transaction that
contravenes Subpart 12.
(3) Where an application is made to the Court under subsection
(2), the Court may, where it is satisfied that it is equitable to do so,
(a) order a shareholder or other person to pay or deliver to a
director any money or property that was paid or distributed
to the shareholder or other person in contravention of
section 245, 246, 247, 249, 253 or 365 or any amount
referred to in subsection (2)(b),
(b) order a provincial company to return or issue shares to a
person from whom the company has purchased, redeemed
or otherwise acquired shares, or
(c) make any further order it thinks fit.
1999 cI-5.1 s361