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S-31.1 - Business Corporations Act

Section 72
Disposition versions

Full text
72. A corporation that acquires shares or fractional shares it has issued reduces its issued and paid-up share capital account,
(1)  in the case of shares with par value, by an amount equal to the result obtained by multiplying the par value of the shares by the number of shares or fractional shares acquired; and
(2)  in the case of shares without par value, by an amount equal to the result obtained by multiplying the average amount paid into or credited to the account per share immediately before the redemption of the shares of the class or series concerned, by the number of shares or fractional shares acquired.
2009, c. 52, s. 72; 2010, c. 40, s. 66.
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