101(1)No person shall solicit proxies from holders of its voting securities whose last address as shown on the books of the reporting issuer is in New Brunswick unless,
(a)
in the case of a solicitation by or on behalf of the management of a reporting issuer, an information circular prepared in accordance with the regulations, either as an appendix to or as a separate document accompanying the notice of the meeting, is sent to each such security holder of the reporting issuer whose proxy is solicited, or
(b)
in the case of any other solicitation, the person making the solicitation, concurrently with or before the solicitation, sends an information circular prepared in accordance with the regulations to each such security holder whose proxy is solicited.
101(2)Subsection (1) does not apply to
(a)
any solicitation, otherwise than by or on behalf of the management of a reporting issuer, where the total number of security holders whose proxies are solicited is not more than 15,
(b)
any solicitation by a person made under section 103,
(c)
any solicitation by a person in respect of securities of which the person is the beneficial owner, or
(d)
any other solicitation prescribed by regulation.
101(3)For the purposes of paragraph (2)(a), 2 or more persons who are the joint registered owners of one or more securities are to be considered one security holder.