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C-6.1 - Act constituting Capital régional et coopératif Desjardins
Section 10
Disposition versions
10. The total amount of the subscription for the issued and outstanding class “A” shares and fractional shares of the Société may not exceed, at the end of a capitalization period described in paragraph 1 of the definition of that expression in section 8.1, the amount provided for in Schedule 1 in respect of that capitalization period.
The total amount of the subscription for the class “A” shares and fractional shares of the Société issued during a capitalization period described in paragraph 2 of the definition of that expression in section 8.1 may not exceed
(1) $100,000,000, if the capitalization period is the period that ends on 29 February 2008;
(2) subject to subparagraphs 3 to 5, either of the following amounts, if the capitalization period begins after 29 February 2008:
(a) $150,000,000, if the total amount of the subscription for the issued and outstanding shares and fractional shares of the Société is less than $1,250,000,000 at the end of any earlier capitalization period, and
(b) the lesser of $150,000,000 and the amount referred to in the third paragraph, in any other case;
(3) $150,000,000, if the capitalization period is the period that ends on 29 February 2016;
(4) $135,000,000, if the capitalization period is the period that ends on 28 February 2017 or the period that ends on 28 February 2018;
(5) $140,000,000, if the capitalization period is the period that ends on 28 February 2019, the period that ends on 29 February 2020, the period that ends on 28 February 2021, the period that ends on 28 February 2022 or the period that ends on 28 February 2023.
The amount referred to in subparagraph b of subparagraph 2 of the second paragraph corresponds to the reduction in the total amount of the subscription for the issued and outstanding class “A” and class “B” shares and fractional shares of the Société that is attributable to the aggregate of such shares and fractional shares that were redeemed or purchased by agreement by the Société during the preceding capitalization period.
10. The total amount of the subscription for the issued and outstanding class “A” shares and fractional shares of the Société may not exceed, at the end of a capitalization period described in paragraph 1 of the definition of that expression in section 8.1, the amount provided for in Schedule 1 in respect of that capitalization period.
The total amount of the subscription for the class “A” shares and fractional shares of the Société issued during a capitalization period described in paragraph 2 of the definition of that expression in section 8.1 may not exceed
(1) $100,000,000, if the capitalization period is the period that ends on 29 February 2008;
(2) subject to subparagraphs 3 to 5, either of the following amounts, if the capitalization period begins after 29 February 2008:
(a) $150,000,000, if the total amount of the subscription for the issued and outstanding shares and fractional shares of the Société is less than $1,250,000,000 at the end of any earlier capitalization period, and
(b) the lesser of $150,000,000 and the amount referred to in the third paragraph, in any other case;
(3) $150,000,000, if the capitalization period is the period that ends on 29 February 2016;
(4) $135,000,000, if the capitalization period is the period that ends on 28 February 2017 or the period that ends on 28 February 2018;
(5) $140,000,000, if the capitalization period is the period that ends on 28 February 2019, the period that ends on 29 February 2020 or the period that ends on 28 February 2021.
The amount referred to in subparagraph b of subparagraph 2 of the second paragraph corresponds to the reduction in the total amount of the subscription for the issued and outstanding class “A” and class “B” shares and fractional shares of the Société that is attributable to the aggregate of such shares and fractional shares that were redeemed or purchased by agreement by the Société during the preceding capitalization period.
10. The total amount of the subscription for the issued and outstanding shares and fractional shares of the Société may not exceed, at the end of a capitalization period described in paragraph 1 of section 8.1, the amount provided for in Schedule 1 in respect of that capitalization period.
The total amount of the subscription for the shares and fractional shares of the Société issued during a capitalization period described in paragraph 2 of section 8.1 may not exceed
(1) $100,000,000, if the capitalization period is the period that ends on 29 February 2008;
(2) subject to subparagraphs 3 and 4, either of the following amounts, if the capitalization period begins after 29 February 2008:
(a) $150,000,000, if the total amount of the subscription for the issued and outstanding shares and fractional shares of the Société is less than $1,250,000,000 at the end of any earlier capitalization period, and
(b) the lesser of $150,000,000 and the amount referred to in the third paragraph, in any other case;
(3) $150,000,000, if the capitalization period is the period that ends on 29 February 2016;
(4) $135,000,000, if the capitalization period is the period that ends on 28 February 2017 or the period that ends on 28 February 2018.
The amount referred to in subparagraph b of subparagraph 2 of the second paragraph corresponds to the reduction in the total amount of the subscription for the issued and outstanding shares and fractional shares of the Société that is attributable to the aggregate of the shares and fractional shares that were redeemed or purchased by agreement by the Société during the preceding capitalization period.
10. The total amount of the subscription for the issued and outstanding shares and fractional shares of the Société may not exceed, at the end of a capitalization period described in paragraph 1 of section 8.1, the amount provided for in Schedule 1 in respect of that capitalization period.
The total amount of the subscription for the shares and fractional shares of the Société issued during a capitalization period described in paragraph 2 of section 8.1 may not exceed
(1) $100,000,000, if the capitalization period is the period that ends on 29 February 2008;
(2) subject to subparagraph 3, either of the following amounts, if the capitalization period begins after 29 February 2008:
(a) $150,000,000, if the total amount of the subscription for the issued and outstanding shares and fractional shares of the Société is less than $1,250,000,000 at the end of any earlier capitalization period, and
(b) the lesser of $150,000,000 and the amount referred to in the third paragraph, in any other case;
(3) $150,000,000, if the capitalization period is the period that ends on 29 February 2016.
The amount referred to in subparagraph b of subparagraph 2 of the second paragraph corresponds to the reduction in the total amount of the subscription for the issued and outstanding shares and fractional shares of the Société that is attributable to the aggregate of the shares and fractional shares that were redeemed or purchased by agreement by the Société during the preceding capitalization period.
10. The total amount of the subscription for the issued and outstanding shares and fractional shares of the Société may not exceed, at the end of a capitalization period described in paragraph 1 of section 8.1, the amount provided for in Schedule 1 in respect of that capitalization period.
The total amount of the subscription for the shares and fractional shares of the Société issued during a capitalization period described in paragraph 2 of section 8.1 may not exceed
(1) $100,000,000, if the capitalization period is the period that ends on 29 February 2008;
(2) either of the following amounts, if the capitalization period begins after 29 February 2008:
(a) $150,000,000, if the total amount of the subscription for the issued and outstanding shares and fractional shares of the Société is less than $1,250,000,000 at the end of any earlier capitalization period, and
(b) the lesser of $150,000,000 and the amount referred to in the third paragraph, in any other case.
The amount referred to in subparagraph b of subparagraph 2 of the second paragraph corresponds to the reduction in the total amount of the subscription for the issued and outstanding shares and fractional shares of the Société that is attributable to the aggregate of the shares and fractional shares that were redeemed or purchased by agreement by the Société during the preceding capitalization period.
10. The total amount of the subscription for the issued and outstanding shares and fractional shares of the Société may not exceed, at the end of a capitalization period, the amount provided for in Schedule 1 in respect of that capitalization period.
10. The total amount of the subscription for the issued and outstanding shares and fractional shares of the Société may not increase by more than $150,000,000 per year or exceed $1,500,000,000.
However, if the increase in the total amount of the subscription for the issued and outstanding shares and fractional shares of the Société, for a particular year, is less than $150,000,000, the amount of the difference for that year may be carried forward to a subsequent year without, however, the total amount of the subscription for the issued and outstanding shares and fractional shares exceeding the amount indicated for each of the years listed in Schedule 1.
