S-31.1 - Business Corporations Act

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271. A corporation may not make an alienation of its property if, as a result of the alienation, the corporation would be unable to retain a significant part of its business activity, unless the alienation is authorized by the shareholders or is in favour of a wholly-owned subsidiary of the corporation.
For the purposes of this chapter, alienation of property means the sale, exchange or lease of its property.
2009, c. 52, s. 271.