S-31.1 - Business Corporations Act

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403. Within 20 days after sending the notice, the offeror must pay or transfer to the corporation the amount of money or other consideration necessary to acquire all the dissenting shareholders’ shares to which the take-over bid relates at the take-over bid price.
If the offeror fails to pay or transfer the money or consideration within the prescribed time, the offeror is deemed to renounce the right to acquire the shares of the dissenting shareholders.
2009, c. 52, s. 403.