Acts and Regulations

C-13 - Companies Act

Section 63
Disposition versions

Full text
Increase in number of shares
63(1)The directors may, at any time, make a by-law for increasing the capital stock of the company to any amount that they consider requisite for the due carrying out of the objects of the company.
63(2)Such by-law shall declare the number of the shares of new stock, and may prescribe the manner in which the shares of new stock shall be allotted.
63(3)In default of the manner of the allotment of the shares of the new stock being prescribed by such by-law, the control of such allotment vests absolutely in the directors.
R.S., c.33, s.62
Increase in number of shares
63(1)The directors may, at any time, make a by-law for increasing the capital stock of the company to any amount that they consider requisite for the due carrying out of the objects of the company.
63(2)Such by-law shall declare the number of the shares of new stock, and may prescribe the manner in which the shares of new stock shall be allotted.
63(3)In default of the manner of the allotment of the shares of the new stock being prescribed by such by-law, the control of such allotment vests absolutely in the directors.
R.S., c.33, s.62