Acts and Regulations

B-9.1 - Business Corporations Act

Section 22
Disposition versions

Full text
Shares
22(1)Shares of a corporation may be with nominal or par value or without nominal or par value or of both kinds.
22(2)If a corporation has only one class of shares, the rights of the holders of those shares are equal in all respects and include the rights
(a) to vote at any meeting of shareholders of the corporation,
(b) to receive any dividend declared by the corporation, and
(c) to receive the remaining property of the corporation on dissolution.
22(3)The articles may provide for more than one class of shares and, if they so provide,
(a) the rights, privileges, restrictions and conditions attaching to the shares of each class shall be set out in the articles, and
(b) the rights set out in subsection (2) shall be attached to at least one class of shares but all of those rights are not required to be attached to one class.
22(3.1)The articles may provide that
(a) two or more classes of shares may have the same rights, privileges, restrictions and conditions, and
(b) if a class of shares is issued in series, two or more series within the class of shares may have the same rights, privileges, restrictions and conditions.
22(4)No class of shares shall be designated as preference shares or by words of like import, unless that class has attached thereto a preference or right over some other class of shares.
2023, c.2, s.17; 2023, c.2, s.155
Shares
22(1)Shares of a corporation may be with nominal or par value or without nominal or par value or of both kinds.
22(2)If a corporation has only one class of shares, the rights of the holders of those shares are equal in all respects and include the rights
(a) to vote at any meeting of shareholders of the corporation,
(b) to receive any dividend declared by the corporation, and
(c) to receive the remaining property of the corporation on dissolution.
22(3)The articles may provide for more than one class of shares and, if they so provide,
(a) the rights, privileges, restrictions and conditions attaching to the shares of each class shall be set out in the articles, and
(b) the rights set out in subsection (2) shall be attached to at least one class of shares but all of those rights are not required to be attached to one class.
22(4)No class of shares shall be designated as preference shares or by words of like import, unless that class has attached thereto a preference or right over some other class of shares.
Shares
22(1)Shares of a corporation may be with nominal or par value or without nominal or par value or of both kinds.
22(2)If a corporation has only one class of shares, the rights of the holders of those shares are equal in all respects and include the rights
(a) to vote at any meeting of shareholders of the corporation,
(b) to receive any dividend declared by the corporation, and
(c) to receive the remaining property of the corporation on dissolution.
22(3)The articles may provide for more than one class of shares and, if they so provide,
(a) the rights, privileges, restrictions and conditions attaching to the shares of each class shall be set out in the articles, and
(b) the rights set out in subsection (2) shall be attached to at least one class of shares but all of those rights are not required to be attached to one class.
22(4)No class of shares shall be designated as preference shares or by words of like import, unless that class has attached thereto a preference or right over some other class of shares.