C-38 - Companies Act

Section 123.42 Disposition versions

1999-04-01

123.42. When a company acquires a share of its share capital, the share is cancelled.

However, the cancelled share again becomes an unissued share if the articles limit the number of authorized shares, except where provided to the contrary in the articles.

1979, c. 31, s. 27; 1980, c. 28, s. 14.

1980-01-30

123.42. Within fifteen days after a change is made to the composition of the board of directors, the company must give a notice containing the information contemplated in paragraph 1 of section 123.9 to the Director, and he shall register it.

On the motion of any interested person or the Director, a judge of the Superior Court may require, by order, that a company comply with this section, and he may take any other appropriate measure that he thinks fit.

1979, c. 31, s. 27.