S-31.1, r. 2 - Regulation respecting shareholder proposals

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chapter S-31.1, r. 2
Regulation respecting shareholder proposals
BUSINESS CORPORATIONS — SHAREHOLDER PROPOSALS
Business Corporations Act
(chapter S-31.1, ss. 194 , 197, 200 , 201, 203, 489).
S-31.1
September 1 2012
1. A shareholder or beneficiary may not, under section 194 of the Business Corporations Act (chapter S-31.1), present more than 5 proposals for a shareholders meeting.
O.C. 909-2010, s. 1.
2. The period referred to in the first paragraph of section 195 of the Business Corporations Act (chapter S-31.1) is 6 months before the day on which the proposal is submitted; the number and value of the outstanding shares referred to in that paragraph are 1% and $2,000, respectively.
The shares are appraised at their fair market value.
O.C. 909-2010, s. 2.
3. The proposal and the attached statement must together not exceed 500 words.
O.C. 909-2010, s. 3.
4. The period referred to in paragraph 1 of section 200 of the Business Corporations Act (chapter S-31.1) is 90 days before the expiry of 1 year after the date of the notice of meeting for the last annual meeting sent to the shareholders.
The period referred to in paragraph 4 of that section is 2 years.
The period referred to in paragraph 5 of that section is 5 years; the minimum amount of support referred to in that paragraph is, as the case may be,
(a)  3% of the total number of shares whose voting right was exercised, if the proposal was presented at only one annual shareholders meeting;
(b)  6% of the total number of shares whose voting right was exercised during the last presentation of the proposal to the holders, if the proposal was presented at 2 annual shareholders meetings;
(c)  10% of the total number of shares whose voting right was exercised during the last presentation of the proposal to the holders, if the proposal was presented at at least 3 annual shareholders meetings.
O.C. 909-2010, s. 4.
5. The period referred to in section 201 of the Business Corporations Act (chapter S-31.1) is 2 years after the meeting referred to in that section was held.
O.C. 909-2010, s. 5.
6. The period referred to in section 203 of the Business Corporations Act (chapter S-31.1) is 21 days as of the receipt of the proposal.
O.C. 909-2010, s. 6.
7. (Omitted).
O.C. 909-2010, s. 7.
REFERENCES
O.C. 909-2010, 2010 G.O. 2, 2959