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S-31.1 - Business Corporations Act
Section 229
Disposition versions
229. A corporation may apply to the court for an order barring examination of the financial statements of one of the corporation’s subsidiaries, or of a legal person whose accounts are consolidated in the financial statements of the corporation, if the corporation shows that such examination would be prejudicial to the corporation or one of its subsidiaries.
The application must be filed with the court within 15 days after the shareholder’s request to examine the financial statements, and be notified to the shareholder; it must also be notified to the Autorité des marchés financiers if the application concerns a corporation governed by one of the Acts listed in Schedule 1 to the Act respecting the regulation of the financial sector (chapter E-6.1), other than a private issuer within the meaning of that expression in the regulations under the Securities Act (chapter V-1.1) that is not governed by another Act listed in that schedule.
When ruling on the application, the court may make any order it thinks fit.
229. A corporation may apply to the court for an order barring examination of the financial statements of one of the corporation’s subsidiaries, or of a legal person whose accounts are consolidated in the financial statements of the corporation, if the corporation shows that such examination would be prejudicial to the corporation or one of its subsidiaries.
The application must be filed with the court within 15 days after the shareholder’s request to examine the financial statements, and be notified to the shareholder; it must also be notified to the Autorité des marchés financiers if the application concerns a corporation governed by one of the Acts listed in Schedule 1 to the Act respecting the Autorité des marchés financiers (chapter A-33.2), other than a private issuer within the meaning of that expression in the regulations under the Securities Act (chapter V-1.1) that is not governed by another Act listed in that schedule.
When ruling on the application, the court may make any order it thinks fit.
