V-1.1 - Securities Act

Section 114 Disposition versions

2008-02-01

114. An individual director or officer of the offeree issuer may recommend acceptance or rejection of the bid in accordance with the conditions determined by regulation.

1982, c. 48, s. 114; 1984, c. 41, s. 40; 2006, c. 50, s. 41.

1987-06-04

114. Where a person acquires securities issued by a company which are not traded on an organized market and as a consequence obtains an interest securing his control over the company, which itself has an interest in another company whose securities are traded on an organized market, the person is deemed to acquire from the vendor securities of the second company up to the percentage of the securities acquired by the person in the first company, and for a fraction of the consideration equal to the ratio between the securities of the second company and the assets of the first company.

In this title, the expression “organized market” means any market on which securities are traded if the prices at which they are traded are regularly published in the press.

1982, c. 48, s. 114; 1984, c. 41, s. 40.

1983-04-06

114. A take-over bid by way of an exchange of securities, whereby the offeror, to obtain the result described in section 110, offers to holders of securities of the offeree issuer to exchange them for other securities, is subject to the same regulatory scheme as a take-over bid, mutatis mutandis.

1982, c. 48, s. 114.