Acts and Regulations

C-16.05 - Condominium Property Act

Section 14
Disposition versions

Full text
Effects of approval - amalgamating corporations
14(1)On the registration of a declaration and description for an amalgamated corporation,
(a) the amalgamating corporations are amalgamated and continue as one corporation,
(b) the land parcels occupied by the amalgamating corporations are amalgamated into one parcel,
(c) the units and common interests of the amalgamating corporations are continued as units and common interests in the amalgamated corporation,
(d) all claims that affected the common elements of the amalgamating corporations are continued as claims that affect the common elements of the amalgamated corporation,
(e) all declarations, descriptions, by-laws and rules of the amalgamating corporations cease to apply,
(f) the owners of the amalgamating corporations are the owners of the amalgamated corporation,
(g) the directors of the amalgamating corporations are the first directors of the amalgamated corporation,
(h) all the property and rights of the amalgamating corporations are the property and rights of the amalgamated corporation and all the obligations and liabilities of the amalgamating corporations are the obligations and liabilities of the amalgamated corporation, and
(i) the amalgamated corporation replaces the amalgamating corporations as a party in any action to which the amalgamating corporation is a party.
14(2)If the condominium property of the amalgamated corporation consists of more than 10 units, on the registration of the declaration and description, the first directors shall appoint a person who is qualified to review the financial statements of the corporation in accordance with section 36, who shall hold office until the meeting referred to in subsection (3).
14(3)Within 60 days after the registration of the declaration and description of an amalgamated corporation, the first directors of the corporation shall hold a meeting for the following purposes:
(a) for owners to elect successors to the first directors; and
(b) for owners to appoint a successor to the person appointed under subsection (2).
Effects of approval - amalgamating corporations
14(1)On the registration of a declaration and description for an amalgamated corporation,
(a) the amalgamating corporations are amalgamated and continue as one corporation,
(b) the land parcels occupied by the amalgamating corporations are amalgamated into one parcel,
(c) the units and common interests of the amalgamating corporations are continued as units and common interests in the amalgamated corporation,
(d) all claims that affected the common elements of the amalgamating corporations are continued as claims that affect the common elements of the amalgamated corporation,
(e) all declarations, descriptions, by-laws and rules of the amalgamating corporations cease to apply,
(f) the owners of the amalgamating corporations are the owners of the amalgamated corporation,
(g) the directors of the amalgamating corporations are the first directors of the amalgamated corporation,
(h) all the property and rights of the amalgamating corporations are the property and rights of the amalgamated corporation and all the obligations and liabilities of the amalgamating corporations are the obligations and liabilities of the amalgamated corporation, and
(i) the amalgamated corporation replaces the amalgamating corporations as a party in any action to which the amalgamating corporation is a party.
14(2)If the condominium property of the amalgamated corporation consists of more than 10 units, on the registration of the declaration and description, the first directors shall appoint a person who is qualified to review the financial statements of the corporation in accordance with section 36, who shall hold office until the meeting referred to in subsection (3).
14(3)Within 60 days after the registration of the declaration and description of an amalgamated corporation, the first directors of the corporation shall hold a meeting for the following purposes:
(a) for owners to elect successors to the first directors; and
(b) for owners to appoint a successor to the person appointed under subsection (2).