Acts and Regulations

B-9.1 - Business Corporations Act

Full text
Certificates, warrants or other evidence of a conversion privilege, option, or right to acquire a share or other security
2022, c.16, s.5
51(1)A corporation that has issued a certificate, warrant or other evidence of a conversion privilege, option, or right to acquire a share or other security of the corporation may provide, by coupons or otherwise, for the payment of the future dividends on the shares or other security included in the certificate, warrant or other evidence of the privilege, option or right.
51(2)A holder of a certificate, warrant or other evidence of a conversion privilege, option or right to acquire a share or other security of the corporation may, if the provisions and regulations respecting certificates, warrants or other evidence of a privilege, option or right to acquire a share or other security of the corporation contained in the articles provide, be deemed to be a shareholder of the corporation, either to the full extent or for any purposes defined by the regulations in the articles.
51(3)On the issuance of a certificate, warrant or other evidence of a conversion privilege, option, or right to acquire a share or other security of the corporation, the corporation shall remove from its share register the name of the shareholder entered in the registry as holding the shares or other security as if the holder had ceased to be a shareholder, and shall enter in the share register the following particulars:
(a) the fact of the issue of the certificate, warrant or other evidence of the privilege, option or right;
(b) a statement of the shares or other securities included in the certificate, warrant or other evidence of the privilege, option or right; and
(c) the date of the issue of the certificate, warrant or other evidence of the privilege, option or right.
51(4)Until a certificate, warrant or other evidence of a privilege, option or right to acquire a share or other security of the corporation is surrendered, the particulars referred to in subsection (3) shall be deemed to be the particulars required by this Act to be entered in the share register of the corporation in respect of the shares or other security, and, on the surrender, the date of the surrender shall be entered in the registry as if it were the date at which a person ceased to be a shareholder.
51(5)Despite subsection 47(1), a holder of a certificate, warrant or other evidence of a privilege, option or right to acquire a share or other security of the corporation is not entitled to a security certificate in respect of the shares or other security, until the certificate, warrant or other evidence of the privilege, option or right is surrendered.
51(6)Unless a holder of a certificate, warrant or other evidence of a privilege, option or right to acquire a share or other security of the corporation is entitled to attend and vote at general meetings, the shares or other security represented by the certificate, warrant or other evidence of the privilege, option or right shall not be counted as part of the capital of the corporation for the purpose of a general meeting of shareholders.
2008, c.S-5.8, s.106; 2022, c.16, s.6; 2023, c.2, s.155; 2023, c.2, s.157
Certificates, warrants or other evidence of a conversion privilege, option, or right to acquire a share or other security
2022, c.16, s.5
51(1)A corporation that has issued a certificate, warrant or other evidence of a conversion privilege, option, or right to acquire a share or other security of the corporation may provide, by coupons or otherwise, for the payment of the future dividends on the shares or other security included in the certificate, warrant or other evidence of the privilege, option or right.
51(2)A holder of a certificate, warrant or other evidence of a conversion privilege, option or right to acquire a share or other security of the corporation may, if the provisions and regulations respecting certificates, warrants or other evidence of a privilege, option or right to acquire a share or other security of the corporation contained in the articles provide, be deemed to be a shareholder of the corporation, either to the full extent or for any purposes defined by the regulations in the articles.
51(3)On the issuance of a certificate, warrant or other evidence of a conversion privilege, option, or right to acquire a share or other security of the corporation, the corporation shall remove from its share register the name of the shareholder entered in the registry as holding the shares or other security as if the holder had ceased to be a shareholder, and shall enter in the share register the following particulars:
(a) the fact of the issue of the certificate, warrant or other evidence of the privilege, option or right;
(b) a statement of the shares or other securities included in the certificate, warrant or other evidence of the privilege, option or right; and
(c) the date of the issue of the certificate, warrant or other evidence of the privilege, option or right.
51(4)Until a certificate, warrant or other evidence of a privilege, option or right to acquire a share or other security of the corporation is surrendered, the particulars referred to in subsection (3) shall be deemed to be the particulars required by this Act to be entered in the share register of the corporation in respect of the shares or other security, and, on the surrender, the date of the surrender shall be entered in the registry as if it were the date at which a person ceased to be a shareholder.
51(5)Despite subsection 47(1), a holder of a certificate, warrant or other evidence of a privilege, option or right to acquire a share or other security of the corporation is not entitled to a share certificate in respect of the shares or other security, until the certificate, warrant or other evidence of the privilege, option or right is surrendered.
51(6)Unless a holder of a certificate, warrant or other evidence of a privilege, option or right to acquire a share or other security of the corporation is entitled to attend and vote at general meetings, the shares or other security represented by the certificate, warrant or other evidence of the privilege, option or right shall not be counted as part of the capital of the corporation for the purpose of a general meeting of shareholders.
2008, c.S-5.8, s.106; 2022, c.16, s.6
Share warrants
51(1)A corporation, if so authorized by its articles may, with respect to any shares, issue a warrant stating that the bearer of the warrant is entitled to the share or shares therein specified, and may provide by coupons or otherwise, for the payment of the future dividends on the share or shares included in the warrant, hereafter termed a share warrant.
51(2)A share warrant entitles the bearer thereof to the shares therein specified, and the shares may be transferred in accordance with the provisions of the Securities Transfer Act relating to a security certificate in bearer form.
51(3)The bearer of a share warrant is entitled, subject to the provisions and regulations respecting share warrants contained in the articles, on surrendering it for cancellation, to have his name entered on the share register of the corporation as the holder of the shares specified in the share warrant, and the corporation is responsible for any loss incurred by any person by reason of the corporation entering on the share register of the corporation the name of the bearer of a share warrant, in respect of the shares therein specified, without the warrant being surrendered and cancelled.
51(4)The bearer of a share warrant may, if the provisions and regulations respecting share warrants contained in the articles so provide, be deemed to be a shareholder of the corporation, either to the full extent or for any purposes defined by such regulations.
51(5)On the issue of a share warrant the corporation shall remove from its share register the name of the shareholder then entered therein as holding such share or shares as if he had ceased to be a shareholder, and shall enter in the share register the following particulars:
(a) the fact of the issue of the warrant,
(b) a statement of the shares included in the warrant, and
(c) the date of the issue of the warrant.
51(6)Until the warrant is surrendered, the above particulars shall be deemed to be the particulars required by this Act to be entered in the share register of the corporation in respect of such share or shares, and, on the surrender, the date of the surrender shall be entered as if it were the date at which a person ceased to be a shareholder.
51(7)Notwithstanding subsection 47(1), the bearer of a share warrant is not entitled to a share certificate in respect of the share held by him until the warrant is surrendered.
51(8)Unless the bearer of a share warrant is entitled to attend and vote at general meetings, the shares represented by such share warrant shall not be counted as part of the capital of the corporation for the purpose of a general meeting of shareholders.
2008, c.S-5.8, s.106
Share warrants
51(1)A corporation, if so authorized by its articles may, with respect to any shares, issue a warrant stating that the bearer of the warrant is entitled to the share or shares therein specified, and may provide by coupons or otherwise, for the payment of the future dividends on the share or shares included in the warrant, hereafter termed a share warrant.
51(2)A share warrant entitles the bearer thereof to the shares therein specified, and the shares may be transferred in accordance with the provisions of the Securities Transfer Act relating to a security certificate in bearer form.
51(3)The bearer of a share warrant is entitled, subject to the provisions and regulations respecting share warrants contained in the articles, on surrendering it for cancellation, to have his name entered on the share register of the corporation as the holder of the shares specified in the share warrant, and the corporation is responsible for any loss incurred by any person by reason of the corporation entering on the share register of the corporation the name of the bearer of a share warrant, in respect of the shares therein specified, without the warrant being surrendered and cancelled.
51(4)The bearer of a share warrant may, if the provisions and regulations respecting share warrants contained in the articles so provide, be deemed to be a shareholder of the corporation, either to the full extent or for any purposes defined by such regulations.
51(5)On the issue of a share warrant the corporation shall remove from its share register the name of the shareholder then entered therein as holding such share or shares as if he had ceased to be a shareholder, and shall enter in the share register the following particulars:
(a) the fact of the issue of the warrant,
(b) a statement of the shares included in the warrant, and
(c) the date of the issue of the warrant.
51(6)Until the warrant is surrendered, the above particulars shall be deemed to be the particulars required by this Act to be entered in the share register of the corporation in respect of such share or shares, and, on the surrender, the date of the surrender shall be entered as if it were the date at which a person ceased to be a shareholder.
51(7)Notwithstanding subsection 47(1), the bearer of a share warrant is not entitled to a share certificate in respect of the share held by him until the warrant is surrendered.
51(8)Unless the bearer of a share warrant is entitled to attend and vote at general meetings, the shares represented by such share warrant shall not be counted as part of the capital of the corporation for the purpose of a general meeting of shareholders.
2008, c.S-5.8, s.106
Share warrants
51(1)A corporation, if so authorized by its articles may, with respect to any shares, issue a warrant stating that the bearer of the warrant is entitled to the share or shares therein specified, and may provide by coupons or otherwise, for the payment of the future dividends on the share or shares included in the warrant, hereafter termed a share warrant.
51(2)A share warrant entitles the bearer thereof to the shares therein specified, and the shares may be transferred by delivery of the warrant.
51(3)The bearer of a share warrant is entitled, subject to the provisions and regulations respecting share warrants contained in the articles, on surrendering it for cancellation, to have his name entered on the share register of the corporation as the holder of the shares specified in the share warrant, and the corporation is responsible for any loss incurred by any person by reason of the corporation entering on the share register of the corporation the name of the bearer of a share warrant, in respect of the shares therein specified, without the warrant being surrendered and cancelled.
51(4)The bearer of a share warrant may, if the provisions and regulations respecting share warrants contained in the articles so provide, be deemed to be a shareholder of the corporation, either to the full extent or for any purposes defined by such regulations.
51(5)On the issue of a share warrant the corporation shall remove from its share register the name of the shareholder then entered therein as holding such share or shares as if he had ceased to be a shareholder, and shall enter in the share register the following particulars:
(a) the fact of the issue of the warrant,
(b) a statement of the shares included in the warrant, and
(c) the date of the issue of the warrant.
51(6)Until the warrant is surrendered, the above particulars shall be deemed to be the particulars required by this Act to be entered in the share register of the corporation in respect of such share or shares, and, on the surrender, the date of the surrender shall be entered as if it were the date at which a person ceased to be a shareholder.
51(7)Notwithstanding subsection 47(1), the bearer of a share warrant is not entitled to a share certificate in respect of the share held by him until the warrant is surrendered.
51(8)Unless the bearer of a share warrant is entitled to attend and vote at general meetings, the shares represented by such share warrant shall not be counted as part of the capital of the corporation for the purpose of a general meeting of shareholders.