S-31.1 - Business Corporations Act

Section 415 Disposition versions

2011-02-14

415. An arrangement submitted to a court for approval may relate to, among other things, one or more of the following actions:

(1)  an amendment to the articles of the corporation to add, change or remove any provision that is permitted by this Act to be set out in the articles;

(2)  the amalgamation of the corporation with another corporation or another legal person to form a corporation;

(3)  a division of the business carried on by the corporation;

(4)  a transfer of property of the corporation if, as a result of the alienation, the corporation would be unable to retain a significant part of its business activity;

(5)  an exchange of securities, participations or debt obligations of the corporation for money or other securities, participations or debt obligations or other property of the corporation or of another legal person;

(6)  the dissolution and liquidation of the corporation;

(7)  a change in the business or affairs of the corporation if the change would affect the rights of the holders of options or rights to acquire any of the corporation’s securities or participations;

(8)  a limitation on the right of the creditors or a group of creditors of the corporation to demand full and prompt performance of the corporation’s obligations; or

(9)  the squeezing-out of a shareholder.

2009, c. 52, s. 415.