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C-44 - Gas, Water and Electricity Companies Act

Section 5
Disposition versions

Full text
5. Any five or more persons who desire to form a company for supplying the territory of a local municipality with gas or water, or with both gas and water, may make and sign a memorandum in writing, which shall set forth:
(1)  the name and the address of the head office of the company;
(2)  the object for which the same is formed;
(3)  the amount of capital stock of the company, which shall be divided into shares of $20 each.
Such stock shall not exceed $300,000, if gas or water only is to be supplied, or $600,000 if both gas and water are to be supplied.
The money so raised shall be appropriated to the purpose of building, completing, acquiring and maintaining the gas-works or waterworks or gas and waterworks, and to no other object or purpose whatever;
(4)  the number of shares of which the stock is to consist;
(5)  the number and names of the directors who are to manage the business of the company for the first year;
(6)  the name of the municipality in whose territory the operations of the company are intended to be carried on;
(7)  the term of the company’s proposed existence, which shall not be longer than 50 years.
R. S. 1964, c. 285, s. 5; 1993, c. 48, s. 332; 1996, c. 2, s. 579; 1999, c. 40, s. 73.
5. Any five or more persons who desire to form a company for supplying the territory of a local municipality with gas or water, or with both gas and water, may make and sign a memorandum in writing, which shall set forth:
(1)  The corporate name and the address of the head office of the company;
(2)  The object for which the same is formed;
(3)  The amount of capital stock of the company, which shall be divided into shares of $20 each.
Such stock shall not exceed $300 000, if gas or water only is to be supplied, or $600 000 if both gas and water are to be supplied.
The money so raised shall be appropriated to the purpose of building, completing, acquiring and maintaining the gas-works or waterworks or gas and waterworks, and to no other object or purpose whatever;
(4)  The number of shares of which the stock is to consist;
(5)  The number and names of the directors who are to manage the business of the company for the first year;
(6)  The name of the municipality in whose territory the operations of the company are intended to be carried on;
(7)  The term of the company’s proposed existence, which shall not be longer than 50 years.
R. S. 1964, c. 285, s. 5; 1993, c. 48, s. 332; 1996, c. 2, s. 579.
5. Any five or more persons who desire to form a company for supplying any city, town, incorporated village, parish, township or other municipality with gas or water, or with both gas and water, may make and sign a memorandum in writing, which shall set forth:
(1)  The corporate name and the address of the head office of the company;
(2)  The object for which the same is formed;
(3)  The amount of capital stock of the company, which shall be divided into shares of $20 each.
Such stock, in the case of a company in a city, shall not exceed $300 000, if gas or water only is to be supplied, or $600 000 if both gas and water are to be supplied.
In the case of any other municipality, such stock shall not exceed $200 000 if gas or water only is to be supplied, or $400 000 if both gas and water are to be supplied.
The money so raised shall be appropriated to the purpose of building, completing, acquiring and maintaining the gas-works or waterworks or gas and waterworks, and to no other object or purpose whatever;
(4)  The number of shares of which the stock is to consist;
(5)  The number and names of the directors who are to manage the business of the company for the first year;
(6)  The name of the municipality in which the operations of the company are intended to be carried on;
(7)  The term of the company’s proposed existence, which shall not be longer than 50 years.
R. S. 1964, c. 285, s. 5; 1993, c. 48, s. 332.
5. Any five or more persons who desire to form a company for supplying any city, town, incorporated village, parish, township or other municipality with gas or water, or with both gas and water, may make and sign a memorandum in writing, which shall set forth:
(1)  The corporate name of the company;
(2)  The object for which the same is formed;
(3)  The amount of capital stock of the company, which shall be divided into shares of $20 each.
Such stock, in the case of a company in a city, shall not exceed $300 000, if gas or water only is to be supplied, or $600 000 if both gas and water are to be supplied.
In the case of any other municipality, such stock shall not exceed $200 000 if gas or water only is to be supplied, or $400 000 if both gas and water are to be supplied.
The money so raised shall be appropriated to the purpose of building, completing, acquiring and maintaining the gas-works or waterworks or gas and waterworks, and to no other object or purpose whatever;
(4)  The number of shares of which the stock is to consist;
(5)  The number and names of the directors who are to manage the business of the company for the first year;
(6)  The name of the municipality in which the operations of the company are intended to be carried on;
(7)  The term of the company’s proposed existence, which shall not be longer than fifty years.
R. S. 1964, c. 285, s. 5.
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