C-41 - Trust Companies Act

Section 6 Disposition versions

1983-04-01

6. A company shall not increase or decrease its capital stock or subdivide its existing shares into shares of a smaller amount nor otherwise alter its capital stock without the approval of the Government. Before giving its approval, the Government shall obtain the opinion of the Inspector General.

However, such alteration shall not have the effect of reducing the common paid-up capital stock to an amount less than a total par value of $1 000 000.

In the case of paid-up shares the company may issue stock certificates upon such conditions as may be, from time to time, determined, showing that the bearer has a right to the shares therein mentioned, and it may provide, by means of coupons or otherwise, for the future dividends on the shares mentioned in the certificate.

R. S. 1964, c. 287, s. 6; 1974, c. 67, s. 3; 1982, c. 52, s. 143.

1977-12-31

6. A company shall not increase or decrease its capital stock or subdivide its existing shares into shares of a smaller amount nor otherwise alter its capital stock without the approval of the Government.

However, such alteration shall not have the effect of reducing the common paid-up capital stock to an amount less than a total par value of one million dollars.

In the case of paid-up shares the company may issue stock certificates upon such conditions as may be, from time to time, determined, showing that the bearer has a right to the shares therein mentioned, and it may provide, by means of coupons or otherwise, for the future dividends on the shares mentioned in the certificate.

R. S. 1964, c. 287, s. 6; 1974, c. 67, s. 3.