57(1)A by-law authorizing the issue or allotment of any portion of the unissued stock of the company for the payment of the president or any director is valid if the by-law has been confirmed at an annual meeting or a general meeting duly called for the purpose.

57(2)A by-law authorizing the issue, allotment or sale of any part of the unissued stock of the company to a dealer registered under the Securities Act at a discount is valid if the by-law has been confirmed at an annual meeting or a general meeting of the shareholders duly called for the purpose, and if the amount of the discount has been approved by the Executive Director of Securities appointed under the Financial and Consumer Services Act.

57(1)A by-law authorizing the issue or allotment of any portion of the unissued stock of the company for the payment of the president or any director is valid if the by-law has been confirmed at an annual meeting or a general meeting duly called for the purpose.

57(2)A by-law authorizing the issue, allotment or sale of any part of the unissued stock of the company to a dealer registered under the Securities Act at a discount is valid if the by-law has been confirmed at an annual meeting or a general meeting of the shareholders duly called for the purpose, and if the amount of the discount has been approved by the Executive Director of Securities appointed under the Financial and Consumer Services Act.

57(1)A by-law authorizing the issue or allotment of any portion of the unissued stock of the company for the payment of the president or any director is valid if the by-law has been confirmed at an annual meeting or a general meeting duly called for the purpose.

57(2)A by-law authorizing the issue, allotment or sale of any part of the unissued stock of the company to a dealer registered under the Securities Act at a discount is valid if the by-law has been confirmed at an annual meeting or a general meeting of the shareholders duly called for the purpose, and if the amount of the discount has been approved by the Executive Director of the New Brunswick Securities Commission.

57(1)A by-law authorizing the issue or allotment of any portion of the unissued stock of the company for the payment of the president or any director is valid if the by-law has been confirmed at an annual meeting or a general meeting duly called for the purpose.

57(2)A by-law authorizing the issue, allotment or sale of any part of the unissued stock of the company to a dealer registered under the Securities Act at a discount is valid if the by-law has been confirmed at an annual meeting or a general meeting of the shareholders duly called for the purpose, and if the amount of the discount has been approved by the Board of Commissioners of Public Utilities.