Acts and Regulations

C-13 - Companies Act

Section 18.1
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Full text
Incorporation of project companies
18.1(1)The Director shall not grant a charter by letters patent incorporating a project company unless the application for letters patent is accompanied by the written consent of the Minister of Transportation and Infrastructure, consenting to the grant of letters patent.
18.1(2)Notwithstanding subsection 4(1) and paragraph 6(1)(g), one or more persons may apply for a grant of letters patent incorporating a project company.
18.1(3)Notwithstanding any other provision of this Act, a project company is not required to have more than one shareholder or member.
18.1(4)Notwithstanding section 90, no director of a project company is required to be or become a shareholder or a member of the project company.
18.1(5)A project company may, subject to its letters patent or supplementary letters patent, by by-law
(a) establish different classes of members, in which case the terms and conditions applying to each class shall be set out in the by-law,
(b) establish that different classes of members may have different rights to elect or appoint directors,
(c) confer on some classes of members greater voting powers than on others,
(d) confer on different classes of members an exclusive right to elect one or more directors, and
(e) establish criteria for the appointment of one or more directors without election by the members or classes of members.
18.1(6)Section 77 of the Business Corporations Act applies to the directors and officers of a project company with the necessary modifications.
18.1(7)No project company shall pass a by-law authorizing an application for supplementary letters patent without first obtaining the written consent of the Minister of Transportation and Infrastructure, consenting to the proposed by-law.
18.1(8)Notwithstanding subsection 35.2(1), a project company applying to the Director for leave to surrender its charter shall provide with the application the written consent of the Minister of Transportation and Infrastructure, consenting to the surrender.
18.1(9)Notwithstanding section 23 of the Winding-up Act and notwithstanding paragraphs 14(1)(u) and 35.2(1)(b), a project company shall provide in its letters patent for the distribution of its assets on dissolution, surrender or winding-up and shall distribute them in accordance with those provisions.
1997, c.61, s.3; 2002, c.29, s.3; 2003, c.15, s.1; 2010, c.31, s.28; 2023, c.2, s.168
Incorporation of project companies
18.1(1)The Director shall not grant a charter by letters patent incorporating a project company unless the application for letters patent is accompanied by the written consent of the Minister of Transportation and Infrastructure, consenting to the grant of letters patent.
18.1(2)Notwithstanding subsection 4(1) and paragraph 6(1)(g), one or more persons may apply for a grant of letters patent incorporating a project company.
18.1(3)Notwithstanding any other provision of this Act, a project company is not required to have more than one shareholder or member.
18.1(4)Notwithstanding section 90, no director of a project company is required to be or become a shareholder or a member of the project company.
18.1(5)A project company may, subject to its letters patent or supplementary letters patent, by by-law
(a) establish different classes of members, in which case the terms and conditions applying to each class shall be set out in the by-law,
(b) establish that different classes of members may have different rights to elect or appoint directors,
(c) confer on some classes of members greater voting powers than on others,
(d) confer on different classes of members an exclusive right to elect one or more directors, and
(e) establish criteria for the appointment of one or more directors without election by the members or classes of members.
18.1(6)Section 77 of the Business Corporations Act applies to the directors and officers of a project company with the necessary modifications.
18.1(7)No project company shall pass a by-law authorizing an application for supplementary letters patent without first obtaining the written consent of the Minister of Transportation and Infrastructure, consenting to the proposed by-law.
18.1(8)Notwithstanding subsection 35.2(1), a project company applying to the Director for leave to surrender its charter shall provide with the application the written consent of the Minister of Transportation and Infrastructure, consenting to the surrender.
18.1(9)Notwithstanding section 23 of the Winding-up Act and notwithstanding paragraphs 14(1)(u) and 35.2(1)(b), a project company shall provide in its letters patent for the distribution of its assets on dissolution, surrender or winding-up and shall distribute them in accordance with those provisions.
1997, c.61, s.3; 2002, c.29, s.3; 2003, c.15, s.1; 2010, c.31, s.28
Incorporation of project companies
18.1(1)The Director shall not grant a charter by letters patent incorporating a project company unless the application for letters patent is accompanied by the written consent of the Minister of Transportation and Infrastructure, consenting to the grant of letters patent.
18.1(2)Notwithstanding subsection 4(1) and paragraph 6(1)(g), one or more persons may apply for a grant of letters patent incorporating a project company.
18.1(3)Notwithstanding any other provision of this Act, a project company is not required to have more than one shareholder or member.
18.1(4)Notwithstanding section 90, no director of a project company is required to be or become a shareholder or a member of the project company.
18.1(5)A project company may, subject to its letters patent or supplementary letters patent, by by-law
(a) establish different classes of members, in which case the terms and conditions applying to each class shall be set out in the by-law,
(b) establish that different classes of members may have different rights to elect or appoint directors,
(c) confer on some classes of members greater voting powers than on others,
(d) confer on different classes of members an exclusive right to elect one or more directors, and
(e) establish criteria for the appointment of one or more directors without election by the members or classes of members.
18.1(6)Section 77 of the Business Corporations Act applies to the directors and officers of a project company with the necessary modifications.
18.1(7)No project company shall pass a by-law authorizing an application for supplementary letters patent without first obtaining the written consent of the Minister of Transportation and Infrastructure, consenting to the proposed by-law.
18.1(8)Notwithstanding subsection 35.2(1), a project company applying to the Director for leave to surrender its charter shall provide with the application the written consent of the Minister of Transportation and Infrastructure, consenting to the surrender.
18.1(9)Notwithstanding section 23 of the Winding-up Act and notwithstanding paragraphs 14(1)(u) and 35.2(1)(b), a project company shall provide in its letters patent for the distribution of its assets on dissolution, surrender or winding-up and shall distribute them in accordance with those provisions.
1997, c.61, s.3; 2002, c.29, s.3; 2003, c.15, s.1; 2010, c.31, s.28
Incorporation of project companies
18.1(1)The Director shall not grant a charter by letters patent incorporating a project company unless the application for letters patent is accompanied by the written consent of the Minister of Transportation, consenting to the grant of letters patent.
18.1(2)Notwithstanding subsection 4(1) and paragraph 6(1)(g), one or more persons may apply for a grant of letters patent incorporating a project company.
18.1(3)Notwithstanding any other provision of this Act, a project company is not required to have more than one shareholder or member.
18.1(4)Notwithstanding section 90, no director of a project company is required to be or become a shareholder or a member of the project company.
18.1(5)A project company may, subject to its letters patent or supplementary letters patent, by by-law
(a) establish different classes of members, in which case the terms and conditions applying to each class shall be set out in the by-law,
(b) establish that different classes of members may have different rights to elect or appoint directors,
(c) confer on some classes of members greater voting powers than on others,
(d) confer on different classes of members an exclusive right to elect one or more directors, and
(e) establish criteria for the appointment of one or more directors without election by the members or classes of members.
18.1(6)Section 77 of the Business Corporations Act applies to the directors and officers of a project company with the necessary modifications.
18.1(7)No project company shall pass a by-law authorizing an application for supplementary letters patent without first obtaining the written consent of the Minister of Transportation, consenting to the proposed by-law.
18.1(8)Notwithstanding subsection 35.2(1), a project company applying to the Director for leave to surrender its charter shall provide with the application the written consent of the Minister of Transportation, consenting to the surrender.
18.1(9)Notwithstanding section 23 of the Winding-up Act and notwithstanding paragraphs 14(1)(u) and 35.2(1)(b), a project company shall provide in its letters patent for the distribution of its assets on dissolution, surrender or winding-up and shall distribute them in accordance with those provisions.
1997, c.61, s.3; 2002, c.29, s.3; 2003, c.15, s.1