What is a special resolution Ontario?
A special resolution requires the approval of not less than two-thirds of the votes cast at a special meeting of shareholders (which excludes from both the numerator and denominator all shares whose votes are not cast for whatever reason including abstention).
What is a special resolution Corporations Act?
A ‘special resolution’ is defined in section 9 of the Corporations Act as one that is passed by 75% (ie, at least three quarters) of the votes cast by shareholders entitled to vote (either on a show of hands at the meeting or by the inclusion of proxies if on a poll) being in favour of the resolution.
How does the Ontario not for profit corporation act work?
The new Registry system means that “for the first time ever, Ontario not-for-profit corporations will be able to access on online government system for registrations and filings saving time and reducing duplicate paperwork.” For example, starting October 19, the annual Corporations Information Act filing will be processed through the Registry.
When was the Canada Business Corporations Act last amended?
Act current to 2021-09-11 and last amended on 2020-01-01. Previous Versions 1 This Act may be cited as the Canada Business Corporations Act.
What does affairs mean in Canada Business Corporations Act?
2 (1) In this Act, affairs. affairs means the relationships among a corporation, its affiliates and the shareholders, directors and officers of such bodies corporate but does not include the business carried on by such bodies corporate; () affiliate. affiliate means an affiliated body corporate within the meaning of subsection (2); () articles.
Who is a director under the Business Corporations Act?
Note: On the day subsection 1 (4) of Schedule 7 to the Cutting Unnecessary Red Tape Act, 2017 comes into force, section 1 of the Act is amended by adding the following definition: (See: 2020, c. 7, Sched. 7, s. 1 (1)) “Director” means the Director appointed under section 278 of the Business Corporations Act; (“directeur”)