S-31.1 - Business Corporations Act

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406. If the offeror has not complied with section 403, the corporation must, within the 30 days after the offeror sends the notice,
(1)  notify the dissenting shareholders and the offeror that the offeror has failed to pay the money or other consideration for the shares to which the take-over bid relates and that the offeror is deemed to have renounced the right to acquire those shares; and
(2)  return to the dissenting shareholders the share certificates they sent to the corporation.
2009, c. 52, s. 406.