118. A person proposing to acquire securities of the offeree company by way of an exchange of securities, with the result described in section 110, shall proceed by way of a take-over bid of that type.
A take-over bid under the first paragraph is subject to the requirements of a take-over bid, with the necessary modifications.
1982, c. 48, s. 118; 1984, c. 41, s. 40.