C-38 - Companies Act

Section 123.67 Disposition versions

1999-10-22

123.67. The company may, however, notwithstanding the rule provided in section 123.66, grant financial assistance to

(1)  a shareholder or a shareholder of the parent legal person within the framework of its ordinary activities if the lending of money is part of its activities or as an advance for expenses incurred on its behalf, or

(2)  a shareholder who is an employee or an employee of the parent legal person within the framework of a share purchasing program.

1979, c. 31, s. 27; 1980, c. 28, s. 14; 1999, c. 40, s. 70.

1981-02-16

123.67. The company may, however, notwithstanding the rule provided in section 123.66, grant financial assistance to

(1)  a shareholder or a shareholder of the parent corporation within the framework of its ordinary activities if the lending of money is part of its activities or as an advance for expenses incurred on its behalf, or

(2)  a shareholder who is an employee or an employee of the parent corporation within the framework of a share purchasing program.

1979, c. 31, s. 27; 1980, c. 28, s. 14.

1980-01-30

123.67. Upon its continuance, a company may make the same amendments to its deed of incorporation as those a company governed by this Part may make to its articles.

However, the company shall not, on that occasion, reduce its issued share capital or the preferred or special rights, conditions, privileges or restrictions attaching to its shares, nor effect a compromise or arrangement, or a change of corporate name.

1979, c. 31, s. 27.