Acts and Regulations

2013, c.7 - Electricity Act

Section 38
Disposition versions

Full text
Dividends
38(1)The Corporation may declare or pay a dividend unless there are reasonable grounds for believing that
(a) the Corporation is, or would after the payment, be unable to pay its liabilities as they become due, or
(b) the realizable value of the Corporation’s assets would thereby be less than the aggregate of its liabilities.
38(2)Any dividends of the Corporation shall be paid to the Holding Corporation.
2019, c.29, s.46; 2021, c.42, s.27
Dividends
38(1)The Corporation may declare or pay a dividend unless there are reasonable grounds for believing that
(a) the Corporation is, or would after the payment, be unable to pay its liabilities as they become due, or
(b) the realizable value of the Corporation’s assets would thereby be less than the aggregate of its liabilities.
38(2)Any dividends payable to the Crown shall be paid to the Minister of Finance and Treasury Board.
2019, c.29, s.46
Dividends
38(1)The Corporation may declare or pay a dividend unless there are reasonable grounds for believing that
(a) the Corporation is, or would after the payment, be unable to pay its liabilities as they become due, or
(b) the realizable value of the Corporation’s assets would thereby be less than the aggregate of its liabilities.
38(2)Any dividends payable to the Crown shall be paid to the Minister of Finance.
Dividends
38(1)The Corporation may declare or pay a dividend unless there are reasonable grounds for believing that
(a) the Corporation is, or would after the payment, be unable to pay its liabilities as they become due, or
(b) the realizable value of the Corporation’s assets would thereby be less than the aggregate of its liabilities.
38(2)Any dividends payable to the Crown shall be paid to the Minister of Finance.