S-31.1 - Business Corporations Act

Section 462 Disposition versions

2011-02-14

462. On an application by any interested person, the court may order the dissolution of a corporation if the court is satisfied that there is sufficient cause warranting the dissolution or if the corporation

(1)  has failed for two or more consecutive years to comply with the requirements of this Act with respect to the holding of annual shareholders meetings;

(2)  is carrying on business in violation of its articles; or

(3)  has contravened section 32 or 228.

For the purposes of the first paragraph and to ensure that the dissolution is in the public interest, “sufficient cause” includes a conviction of the corporation of an offence under the Criminal Code (R.S.C. 1985, c. C-46) or any other federal or provincial Act.

2009, c. 52, s. 462.