Acts and Regulations

B-9.1 - Business Corporations Act

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Conversion privileges, options and rights
28(1)Subject to section 27, a corporation may issue a certificate, warrant or other evidence of a conversion privilege, option, or right to acquire a share or other security of the corporation, and shall set out the conditions of the certificate, warrant or other evidence
(a) in the certificate, warrant or other evidence, or
(b) in the certificate evidencing the securities to which the conversion privileges, options or rights are attached.
28(2)Conversion privileges, options and rights to acquire securities of a corporation may be made transferable or non-transferable, and options and rights to acquire may be made separable or inseparable from any securities to which they are attached.
28(3)Where a corporation has granted privileges to convert any securities issued by the corporation into shares, or into shares of another class or series, or has issued or granted options or rights to acquire shares, if the articles limit the number of authorized shares, the corporation shall reserve and continue to reserve sufficient authorized shares to meet the exercise of such conversion privileges, options and rights.
2022, c.16, s.3; 2023, c.2, s.155
Conversion privileges, options and rights
28(1)Subject to section 27, a corporation may issue a certificate, warrant or other evidence of a conversion privilege, option, or right to acquire a share or other security of the corporation, and shall set out the conditions of the certificate, warrant or other evidence
(a) in the certificate, warrant or other evidence, or
(b) in the certificate evidencing the securities to which the conversion privileges, options or rights are attached.
28(2)Conversion privileges, options and rights to acquire securities of a corporation may be made transferable or non-transferable, and options and rights to acquire may be made separable or inseparable from any securities to which they are attached.
28(3)Where a corporation has granted privileges to convert any securities issued by the corporation into shares, or into shares of another class or series, or has issued or granted options or rights to acquire shares, if the articles limit the number of authorized shares, the corporation shall reserve and continue to reserve sufficient authorized shares to meet the exercise of such conversion privileges, options and rights.
2022, c.16, s.3
Conversion privileges, options and rights
28(1)Subject to section 27, a corporation may issue certificates, warrants or other evidences of conversion privileges, options or rights to acquire securities of the corporation, and shall set out the conditions thereof
(a) in the certificates, warrants or other evidence, or
(b) in certificates evidencing the securities to which the conversion privileges, options or rights are attached.
28(2)Conversion privileges, options and rights to acquire securities of a corporation may be made transferable or non-transferable, and options and rights to acquire may be made separable or inseparable from any securities to which they are attached.
28(3)Where a corporation has granted privileges to convert any securities issued by the corporation into shares, or into shares of another class or series, or has issued or granted options or rights to acquire shares, if the articles limit the number of authorized shares, the corporation shall reserve and continue to reserve sufficient authorized shares to meet the exercise of such conversion privileges, options and rights.
Conversion privileges, options and rights
28(1)Subject to section 27, a corporation may issue certificates, warrants or other evidences of conversion privileges, options or rights to acquire securities of the corporation, and shall set out the conditions thereof
(a) in the certificates, warrants or other evidence, or
(b) in certificates evidencing the securities to which the conversion privileges, options or rights are attached.
28(2)Conversion privileges, options and rights to acquire securities of a corporation may be made transferable or non-transferable, and options and rights to acquire may be made separable or inseparable from any securities to which they are attached.
28(3)Where a corporation has granted privileges to convert any securities issued by the corporation into shares, or into shares of another class or series, or has issued or granted options or rights to acquire shares, if the articles limit the number of authorized shares, the corporation shall reserve and continue to reserve sufficient authorized shares to meet the exercise of such conversion privileges, options and rights.