Acts and Regulations

C-13 - Companies Act

Section 15
Disposition versions

Full text
Letters patent
15(1)An application for incorporation may set forth that the applicants desire to become incorporated as a private investment holding company for the following purposes only,
(a) to hold by way of investment or for personal use any real or personal property whatsoever;
(b) for purposes incidental to such holding to purchase or otherwise acquire and to sell or otherwise dispose of any such real or personal property;
(c) for purposes incidental to such holdings or purchase or sale, to draw, make, accept, endorse, discount, execute and issue promissory notes, bills of exchange, bills of lading, warrants and other negotiable or transferable instruments;
(d) to make gifts to any person including a shareholder if and to the extent that such gift is approved at a special general meeting of shareholders of the company by the unanimous affirmative vote of all the shareholders of the company and if all creditors of the company have consented thereto;
(e) to do all such other acts or things as are incidental or conducive to or consequential upon the attainment of the above objects.
15(2)The letters patent incorporating such company shall set forth that the company is incorporated as a private investment holding company solely for the purposes hereinbefore set out and such company does not have or possess any powers other than those expressed in the letters patent.
15(3)Section 14 does not apply to such company.
15(4)The fees payable to the Minister under the Corporations Tax Act are not payable in respect of such company.
15(5)Repealed: 1981, c.12, s.4
15(6)Such companies are subject to a filing fee under section 126 of not more than twenty-five dollars per year.
15(7)Supplementary letters patent may be issued to a company heretofore incorporated by letters patent in this Province granting to such company the powers in this section set out in lieu of any other powers possessed by it and thereupon subsections (3), (4) and (6) of this section apply to such company.
R.S., c.33, s.15; 1957, c.26, s.2; O.C. 64-312; 1978, c.D-11.2, s.7; 1981, c.12, s.4
Letters patent
15(1)An application for incorporation may set forth that the applicants desire to become incorporated as a private investment holding company for the following purposes only,
(a) to hold by way of investment or for personal use any real or personal property whatsoever;
(b) for purposes incidental to such holding to purchase or otherwise acquire and to sell or otherwise dispose of any such real or personal property;
(c) for purposes incidental to such holdings or purchase or sale, to draw, make, accept, endorse, discount, execute and issue promissory notes, bills of exchange, bills of lading, warrants and other negotiable or transferable instruments;
(d) to make gifts to any person including a shareholder if and to the extent that such gift is approved at a special general meeting of shareholders of the company by the unanimous affirmative vote of all the shareholders of the company and if all creditors of the company have consented thereto;
(e) to do all such other acts or things as are incidental or conducive to or consequential upon the attainment of the above objects.
15(2)The letters patent incorporating such company shall set forth that the company is incorporated as a private investment holding company solely for the purposes hereinbefore set out and such company does not have or possess any powers other than those expressed in the letters patent.
15(3)Section 14 does not apply to such company.
15(4)The fees payable to the Minister under the Corporations Tax Act are not payable in respect of such company.
15(5)Repealed: 1981, c.12, s.4
15(6)Such companies are subject to a filing fee under section 126 of not more than twenty-five dollars per year.
15(7)Supplementary letters patent may be issued to a company heretofore incorporated by letters patent in this Province granting to such company the powers in this section set out in lieu of any other powers possessed by it and thereupon subsections (3), (4) and (6) of this section apply to such company.
R.S., c.33, s.15; 1957, c.26, s.2; O.C.64-312; 1978, c.D-11.2, s.7; 1981, c.12, s.4