Acts and Regulations

C-13 - Companies Act

Section 35.2
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Surrender of charter
35.2(1)The charter of a company incorporated by letters patent or by special Act of the Legislature may be surrendered if the company proves to the satisfaction of the Director
(a) that a by-law has been enacted by the company’s board of directors and approved by at least two-thirds of its shareholders to surrender the company’s charter,
(b) that it has parted with its property, divided its assets rateably among its shareholders, and
(c) that it has no debts or liabilities, the debts or obligations of the company have been provided for or protected, or the creditors of the company or other persons holding the debts and liabilities of the company consent to the surrender of the charter.
35.2(2)Subject to subsection (1), the Director may accept a surrender of the charter and issue a certificate of dissolution, which may be dated as of the date the application is received by the Director or any later date, and the company ceases to exist on the date shown in the certificate of dissolution.
2003, c.15, s.3
Surrender of charter
35.2(1)The charter of a company incorporated by letters patent or by special Act of the Legislature may be surrendered if the company proves to the satisfaction of the Director
(a) that a by-law has been enacted by the company’s board of directors and approved by at least two-thirds of its shareholders to surrender the company’s charter,
(b) that it has parted with its property, divided its assets rateably among its shareholders, and
(c) that it has no debts or liabilities, the debts or obligations of the company have been provided for or protected, or the creditors of the company or other persons holding the debts and liabilities of the company consent to the surrender of the charter.
35.2(2)Subject to subsection (1), the Director may accept a surrender of the charter and issue a certificate of dissolution, which may be dated as of the date the application is received by the Director or any later date, and the company ceases to exist on the date shown in the certificate of dissolution.
2003, c.15, s.3