C-6.1 - Act constituting Capital régional et coopératif Desjardins

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10.1. The aggregate of all amounts each of which is the value of a consideration that a person has paid or has undertaken to pay, in a conversion period, for the acquisition of a class “B” share or fractional share of the Société may not exceed $100,000,000, where the conversion period is
(1)  the period that ends on 28 February 2019;
(2)  the period that ends on 29 February 2020; or
(3)  the period that ends on 28 February 2021.
For the purposes of the first paragraph, the following rules apply:
(1)  a person has undertaken to pay, in a conversion period described in that paragraph, a consideration for the acquisition of a class “B” share or fractional share, where the person has undertaken to purchase such a share or fractional share under a promise to purchase by way of exchange that
(a)  was made by the person at a particular time in the conversion period that is after 28 February 2018 and before 19 June 2019, and
(b)  was accepted by the Société after 9 July 2018 and before 19 June 2019; and
(2)  the value of a consideration that a person has paid or has undertaken to pay for the acquisition of a class “B” share or fractional share is
(a)  in the case of a consideration that the person has undertaken to pay in accordance with subparagraph 1 because of a promise to purchase by way of exchange, the current price, at the time the promise was accepted by the Société, of the share or fractional share forming, under the terms of the promise, the consideration that the person must pay for such an acquisition, or
(b)  in the case of a consideration paid by the person, the current price, at the time the consideration is paid, of the share or fractional share forming, under paragraph 2 of section 11.1, the consideration.
2019, c. 142019, c. 14, s. 19.