Acts and Regulations

B-9.1 - Business Corporations Act

Section 155
Disposition versions

Full text
Investigation of corporation, conditions and procedure
155(1)The holders of not less than 5% of the issued shares of any class of the corporation or the Director may apply, ex parte or upon such notice as the Court may require, to the Court for an order directing an investigation to be made of the corporation and any of its affiliated corporations.
155(2)If, upon an application under subsection (1), it appears that
(a) the business of the corporation or any of its affiliates is or has been carried on with intent to defraud any person,
(b) the business or affairs of the corporation or any of its affiliates are or have been carried on or conducted, or the powers of the directors are or have been exercised in a manner that is oppressive or unfairly prejudicial to or that unfairly disregards the interests of a security holder,
(c) the corporation or any of its affiliates was formed for a fraudulent or unlawful purpose or is to be dissolved for a fraudulent or unlawful purpose, or
(d) persons concerned with the formation, business or affairs of the corporation or any of its affiliates have in connection therewith acted fraudulently or dishonestly,
the Court may order an investigation to be made of the corporation and any of its affiliated corporations.
155(3)If a security holder makes an application under subsection (1) he shall give the Director reasonable notice thereof, and with leave of the Court the Director may appear and be heard in person or by counsel.
155(4)An applicant under this section shall provide such security for costs as the Court may order.
155(5)An application under this section shall be heard in camera.
155(6)No person shall publish anything relating to ex parte proceedings under this section except with the authorization of the Court or the written consent of the corporation being investigated.
1987, c.6, s.5; 2000, c.9, s.20; 2023, c.2, s.112; 2023, c.2, s,.155
Investigation of corporation, conditions and procedure
155(1)The holders of not less than ten per cent of the issued shares of any class of the corporation or the Director may apply, ex parte or upon such notice as the Court may require, to the Court for an order directing an investigation to be made of the corporation and any of its affiliated corporations.
155(2)If, upon an application under subsection (1), it appears that
(a) the business of the corporation or any of its affiliates is or has been carried on with intent to defraud any person,
(b) the business or affairs of the corporation or any of its affiliates are or have been carried on or conducted, or the powers of the directors are or have been exercised in a manner that is oppressive or unfairly prejudicial to or that unfairly disregards the interests of a security holder,
(c) the corporation or any of its affiliates was formed for a fraudulent or unlawful purpose or is to be dissolved for a fraudulent or unlawful purpose, or
(d) persons concerned with the formation, business or affairs of the corporation or any of its affiliates have in connection therewith acted fraudulently or dishonestly,
the Court may order an investigation to be made of the corporation and any of its affiliated corporations.
155(3)If a security holder makes an application under subsection (1) he shall give the Director reasonable notice thereof, and with leave of the Court the Director may appear and be heard in person or by counsel.
155(4)An applicant under this section shall provide such security for costs as the Court may order.
155(5)An application under this section shall be heard in camera.
155(6)No person shall publish anything relating to ex parte proceedings under this section except with the authorization of the Court or the written consent of the corporation being investigated.
1987, c.6, s.5; 2000, c.9, s.20
Investigation of corporation, conditions and procedure
155(1)The holders of not less than ten per cent of the issued shares of any class of the corporation or the Director may apply, ex parte or upon such notice as the Court may require, to the Court for an order directing an investigation to be made of the corporation and any of its affiliated corporations.
155(2)If, upon an application under subsection (1), it appears that
(a) the business of the corporation or any of its affiliates is or has been carried on with intent to defraud any person,
(b) the business or affairs of the corporation or any of its affiliates are or have been carried on or conducted, or the powers of the directors are or have been exercised in a manner that is oppressive or unfairly prejudicial to or that unfairly disregards the interests of a security holder,
(c) the corporation or any of its affiliates was formed for a fraudulent or unlawful purpose or is to be dissolved for a fraudulent or unlawful purpose, or
(d) persons concerned with the formation, business or affairs of the corporation or any of its affiliates have in connection therewith acted fraudulently or dishonestly,
the Court may order an investigation to be made of the corporation and any of its affiliated corporations.
155(3)If a security holder makes an application under subsection (1) he shall give the Director reasonable notice thereof, and with leave of the Court the Director may appear and be heard in person or by counsel.
155(4)An applicant under this section shall provide such security for costs as the Court may order.
155(5)An application under this section shall be heard in camera.
155(6)No person shall publish anything relating to ex parte proceedings under this section except with the authorization of the Court or the written consent of the corporation being investigated.
1987, c.6, s.5; 2000, c.9, s.20