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S-31.1 - Business Corporations Act

Section 266
Disposition versions

Full text
266. Court authorization is required if the cancellation of the articles could be prejudicial to the rights of the creditors of the corporation.
The same applies if the cancellation could be prejudicial to the rights of the shareholders, unless the cancellation is authorized by resolution of all the shareholders whose rights would be affected by the cancellation, including the shareholders not otherwise entitled to vote.
2009, c. 52, s. 266.
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