29(1)Subject to sections 30 to 33, a corporation shall not hold shares in itself or in its holding body corporate.

29(2)Unless its articles provide otherwise, a subsidiary of a corporation may purchase or acquire shares of the corporation of which it is a subsidiary.

29(3)A subsidiary of a corporation shall not purchase or acquire any of the shares of its holding body corporate if there are reasonable grounds for believing that the subsidiary is, or would after the payment be, unable to pay its liabilities as they become due.

29(4)On application of a director of the holding body corporate or the purchasing or acquiring subsidiary, the Court may declare if the purchase or acquisition contravenes subsection (3).

29(5)A purchase or acquisition of shares by a subsidiary of a corporation of its holding body corporate is not invalid by reason only that it contravenes subsection (1).

29(1)Except as provided in subsection (2) and sections 30 to 33, a corporation

29(2)A corporation shall cause a subsidiary body corporate of the corporation that holds shares of the corporation to sell or otherwise dispose of those shares within five years from the date

29(1)Except as provided in subsection (2) and sections 30 to 33, a corporation

29(2)A corporation shall cause a subsidiary body corporate of the corporation that holds shares of the corporation to sell or otherwise dispose of those shares within five years from the date