C-38 - Companies Act

Full text
57. (1)  The directors of a company may make a by-law to increase the capital stock to any amount which they consider requisite for the due carrying out of its objects.
(2)  Such by-law shall declare the number of the shares of such new stock, and may prescribe the manner in which the same shall be allotted; and in default of its so doing, the control of such allotment shall vest absolutely in the directors.
R. S. 1964, c. 271, s. 54.