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S-31.1 - Business Corporations Act

Section 345
Disposition versions

Full text
345. A distribution proposal that suggests that the distribution be entirely in money must be approved by special resolution. In all other cases, it must be approved by resolution of all the shareholders, who may make their approval subject to the amendment of the distribution terms proposed by the liquidator.
If approval is not given, the liquidation continues under court supervision.
2009, c. 52, s. 345.
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