36(1)Upon a purchase, redemption or other acquisition by a corporation under section 31, 32, 33, 44 or 131 or paragraph 166(3)(f), of shares or fractions thereof issued by it, the corporation shall
(a)
deduct from the stated capital account maintained for the class or series of shares without par value or nominal value purchased, redeemed or otherwise acquired an amount equal to the result obtained by multiplying the stated capital of the shares of that class or series by the number of shares of that class or series or fractions thereof purchased, redeemed or otherwise acquired, divided by the number of issued shares of that class or series immediately before the purchase, redemption or other acquisition, or
(b)
deduct from the stated capital account maintained for the class or series of shares with par or nominal value, purchased, redeemed or otherwise acquired an amount equal to the par or nominal value together with any such premium allocated to such account for shares with par value or nominal value.
36(2)A corporation shall deduct the amount of a payment made by the corporation to a shareholder under paragraph 166(3)(g) from the stated capital account maintained for the class or series of shares in respect of which the payment was made.
36(3)A corporation shall adjust its stated capital account or accounts in accordance with any special resolution referred to in subsection 35(2).
36(4)Shares or fractions thereof issued by a corporation and purchased, redeemed or otherwise acquired by it may be cancelled or, if the articles limit the number of authorized shares, may be restored to the status of authorized but unissued shares.
36(5)A corporation holding shares in itself as permitted by subsections 30(1) and (2) shall be deemed not to have purchased, redeemed or otherwise acquired such shares.
36(1)Upon a purchase, redemption or other acquisition by a corporation under section 31, 32, 33, 44 or 131 or paragraph 166(3)(f), of shares or fractions thereof issued by it, the corporation shall
(a)
deduct from the stated capital account maintained for the class or series of shares without par value or nominal value purchased, redeemed or otherwise acquired an amount equal to the result obtained by multiplying the stated capital of the shares of that class or series by the number of shares of that class or series or fractions thereof purchased, redeemed or otherwise acquired, divided by the number of issued shares of that class or series immediately before the purchase, redemption or other acquisition, or
(b)
deduct from the stated capital account maintained for the class or series of shares with par or nominal value, purchased, redeemed or otherwise acquired an amount equal to the par or nominal value together with any such premium allocated to such account for shares with par value or nominal value.
36(2)A corporation shall deduct the amount of a payment made by the corporation to a shareholder under paragraph 166(3)(g) from the stated capital account maintained for the class or series of shares in respect of which the payment was made.
36(3)A corporation shall adjust its stated capital account or accounts in accordance with any special resolution referred to in subsection 35(2).
36(4)Shares or fractions thereof issued by a corporation and purchased, redeemed or otherwise acquired by it may be cancelled or, if the articles limit the number of authorized shares, may be restored to the status of authorized but unissued shares.
36(5)A corporation holding shares in itself as permitted by subsections 30(1) and (2) shall be deemed not to have purchased, redeemed or otherwise acquired such shares.
36(1)Upon a purchase, redemption or other acquisition by a corporation under section 31, 32, 33, 44 or 131 or paragraph 166(3)(f), of shares or fractions thereof issued by it, the corporation shall
(a)
deduct from the stated capital account maintained for the class or series of shares without par value or nominal value purchased, redeemed or otherwise acquired an amount equal to the result obtained by multiplying the stated capital of the shares of that class or series by the number of shares of that class or series or fractions thereof purchased, redeemed or otherwise acquired, divided by the number of issued shares of that class or series immediately before the purchase, redemption or other acquisition, or
(b)
deduct from the stated capital account maintained for the class or series of shares with par or nominal value, purchased, redeemed or otherwise acquired an amount equal to the par or nominal value together with any such premium allocated to such account for shares with par value or nominal value.
36(2)A corporation shall deduct the amount of a payment made by the corporation to a shareholder under paragraph 166(3)(g) from the stated capital account maintained for the class or series of shares in respect of which the payment was made.
36(3)A corporation shall adjust its stated capital account or accounts in accordance with any special resolution referred to in subsection 35(2).
36(4)Shares or fractions thereof issued by a corporation and purchased, redeemed or otherwise acquired by it may be cancelled or, if the articles limit the number of authorized shares, may be restored to the status of authorized but unissued shares.
36(5)A corporation holding shares in itself as permitted by subsections 30(1) and (2) shall be deemed not to have purchased, redeemed or otherwise acquired such shares.