S-31.1 - Business Corporations Act

Section 458 Disposition versions

2011-02-14

458. On an application by any interested person, the court may make any order it thinks fit to correct, or modify the consequences in law of, a mistake, or to validate any act vitiated as a result of the mistake, and may give any related directions it considers necessary.

For the purposes of this subdivision, “mistake” includes an omission, defect, defect of form, error or irregularity that has occurred in the conduct of the affairs of the corporation as a result of which

(1)  a breach of a provision of this Act, an Act replaced by this Act or the regulations under any of them has occurred;

(2)  there has been default in compliance with the articles or the by-laws of the corporation or a unanimous shareholder agreement; or

(3)  an action approved or decision made by the shareholders meeting, the board of directors or one of its committees has been rendered ineffective.

2009, c. 52, s. 458.