C-38 - Companies Act

Section 98 Disposition versions

2016-01-01

98. (1)  An annual meeting of the shareholders of the company shall be held at such time each year as the constituting act or by-laws of the company provide, and failing such provisions to that effect an annual meeting shall be held at the place named as the place of the head office of the company, on the fourth Wednesday in January in every year, and, if such day be a holiday, then on the next following working day.

The annual meeting of the company shall be held in Québec at such place as its by-laws or constituting act provide. However, the annual meeting of a company that has not made a distribution to the public of its securities may be held outside Québec if its constituting act provides for it, or, failing a provision in the deed to that effect, if all the shareholders entitled to attend the meeting consent thereto.

(2)  At such meeting the directors shall lay before the company,—

(a)  a balance sheet made up to a date not more than four months before such annual meeting; provided however that a company which carries on its undertaking outside Québec may, by resolution at a general meeting, extend this period to not more than six months;

(b)  a general statement of income and expenditure for the financial period ending nearest to the date of such balance sheet;

(c)  the report of the auditor or auditors;

(d)  such further information respecting the company’s financial position as the constituting act or by-laws of the company require.

(3)  Every balance sheet shall be drawn up so as to distinguish severally at least the following classes of assets and liabilities, namely:

(a)  cash;

(b)  debts owing to the company by its customers;

(c)  debts owing to the company by its directors, officers and shareholders respectively;

(d)  stock in trade;

(e)  expenditures made on account of future business;

(f)  movable and immovable property;

(g)  goodwill, franchises, patents and copyrights, trade-marks, leases, contracts and licences;

(h)  debts owing by the company, secured by mortgage or other lien upon the property of the company;

(i)  debts owing by the company, but not secured;

(j)  amount of common shares, subscribed for and allotted, and the amount paid thereon, showing the amount thereof allotted for services rendered, for commissions or for assets acquired since the last annual meeting;

(k)  amount of preferred shares subscribed for and allotted and the amount paid thereon, showing the amount thereof allotted for services rendered, for commissions or for assets acquired since the last annual meeting;

(l)  indirect and contingent liabilities;

(m)  amount written off on account of depreciation of plant, machinery, stock-in-trade and all other similar items.

R. S. 1964, c. 271, s. 95; 1979, c. 31, s. 8, s. 24; 1980, c. 28, s. 12; 1999, c. 40, s. 70; I.N. 2016-01-01 (NCCP).

1999-10-22

98. (1)  An annual meeting of the shareholders of the company shall be held at such time each year as the constituting act or by-laws of the company provide, and failing such provisions to that effect an annual meeting shall be held at the place named as the place of the head office of the company, on the fourth Wednesday in January in every year, and, if such day be a holiday, then on the next following juridical day.

The annual meeting of the company shall be held in Québec at such place as its by-laws or constituting act provide. However, the annual meeting of a company that has not made a distribution to the public of its securities may be held outside Québec if its constituting act provides for it, or, failing a provision in the deed to that effect, if all the shareholders entitled to attend the meeting consent thereto.

(2)  At such meeting the directors shall lay before the company,—

(a)  a balance sheet made up to a date not more than four months before such annual meeting; provided however that a company which carries on its undertaking outside Québec may, by resolution at a general meeting, extend this period to not more than six months;

(b)  a general statement of income and expenditure for the financial period ending nearest to the date of such balance sheet;

(c)  the report of the auditor or auditors;

(d)  such further information respecting the company’s financial position as the constituting act or by-laws of the company require.

(3)  Every balance sheet shall be drawn up so as to distinguish severally at least the following classes of assets and liabilities, namely:

(a)  cash;

(b)  debts owing to the company by its customers;

(c)  debts owing to the company by its directors, officers and shareholders respectively;

(d)  stock in trade;

(e)  expenditures made on account of future business;

(f)  movable and immovable property;

(g)  goodwill, franchises, patents and copyrights, trade-marks, leases, contracts and licences;

(h)  debts owing by the company, secured by mortgage or other lien upon the property of the company;

(i)  debts owing by the company, but not secured;

(j)  amount of common shares, subscribed for and allotted, and the amount paid thereon, showing the amount thereof allotted for services rendered, for commissions or for assets acquired since the last annual meeting;

(k)  amount of preferred shares subscribed for and allotted and the amount paid thereon, showing the amount thereof allotted for services rendered, for commissions or for assets acquired since the last annual meeting;

(l)  indirect and contingent liabilities;

(m)  amount written off on account of depreciation of plant, machinery, stock-in-trade and all other similar items.

R. S. 1964, c. 271, s. 95; 1979, c. 31, s. 8, s. 24; 1980, c. 28, s. 12; 1999, c. 40, s. 70.

1981-02-16

98. (1)  An annual meeting of the shareholders of the company shall be held at such time each year as the deed of incorporation or by-laws of the company provide, and failing such provisions to that effect an annual meeting shall be held at the place named as the place of the head office of the company, on the fourth Wednesday in January in every year, and, if such day be a holiday, then on the next following juridical day.

The annual meeting of the company shall be held in Québec at such place as its by-laws or deed of incorporation provide. However, the annual meeting of a company that has not made a distribution to the public of its securities may be held outside Québec if its deed of incorporation provides for it, or, failing a provision in the deed to that effect, if all the shareholders entitled to attend the meeting consent thereto.

(2)  At such meeting the directors shall lay before the company,—

(a)  A balance sheet made up to a date not more than four months before such annual meeting; provided however that a company which carries on its undertaking outside Québec may, by resolution at a general meeting, extend this period to not more than six months;

(b)  A general statement of income and expenditure for the financial period ending nearest to the date of such balance sheet;

(c)  The report of the auditor or auditors;

(d)  Such further information respecting the company’s financial position as the deed of incorporation or by-laws of the company require.

(3)  Every balance sheet shall be drawn up so as to distinguish severally at least the following classes of assets and liabilities, namely:

(a)  Cash;

(b)  Debts owing to the company by its customers;

(c)  Debts owing to the company by its directors, officers and shareholders respectively;

(d)  Stock in trade;

(e)  Expenditures made on account of future business;

(f)  Moveable and immoveable property;

(g)  Goodwill, franchises, patents and copyrights, trade-marks, leases, contracts and licenses;

(h)  Debts owing by the company, secured by mortgage or other lien upon the property of the company;

(i)  Debts owing by the company, but not secured;

(j)  Amount of common shares, subscribed for and allotted, and the amount paid thereon, showing the amount thereof allotted for services rendered, for commissions or for assets acquired since the last annual meeting;

(k)  Amount of preferred shares subscribed for and allotted and the amount paid thereon, showing the amount thereof allotted for services rendered, for commissions or for assets acquired since the last annual meeting;

(l)  Indirect and contingent liabilities;

(m)  Amount written off on account of depreciation of plant, machinery, stock-in-trade and all other similar items.

R. S. 1964, c. 271, s. 95; 1979, c. 31, s. 8, s. 24; 1980, c. 28, s. 12.

1980-01-30

98. (1)  An annual meeting of the shareholders of the company shall be held at such time and place each year as the deed of incorporation or by-laws of the company provide, and failing such provisions in that regard an annual meeting shall be held at the place named in the deed of incorporation as the place of the head office of the company or, as the case may be, in the judicial district where that head office is situated, on the fourth Wednesday in January every year, and, if that day is a holiday, then on the next following juridical day.

(2)  At such meeting the directors shall lay before the company,—

(a)  A balance sheet made up to a date not more than four months before such annual meeting; provided however that a company which carries on its undertaking outside Québec may, by resolution at a general meeting, extend this period to not more than six months;

(b)  A general statement of income and expenditure for the financial period ending nearest to the date of such balance sheet;

(c)  The report of the auditor or auditors;

(d)  Such further information respecting the company’s financial position as the deed of incorporation or by-laws of the company require.

(3)  Every balance sheet shall be drawn up so as to distinguish severally at least the following classes of assets and liabilities, namely:

(a)  Cash;

(b)  Debts owing to the company by its customers;

(c)  Debts owing to the company by its directors, officers and shareholders respectively;

(d)  Stock in trade;

(e)  Expenditures made on account of future business;

(f)  Moveable and immoveable property;

(g)  Goodwill, franchises, patents and copyrights, trade-marks, leases, contracts and licenses;

(h)  Debts owing by the company, secured by mortgage or other lien upon the property of the company;

(i)  Debts owing by the company, but not secured;

(j)  Amount of common shares, subscribed for and allotted, and the amount paid thereon, showing the amount thereof allotted for services rendered, for commissions or for assets acquired since the last annual meeting;

(k)  Amount of preferred shares subscribed for and allotted and the amount paid thereon, showing the amount thereof allotted for services rendered, for commissions or for assets acquired since the last annual meeting;

(l)  Indirect and contingent liabilities;

(m)  Amount written off on account of depreciation of plant, machinery, stock-in-trade and all other similar items.

R. S. 1964, c. 271, s. 95; 1979, c. 31, s. 8, s. 24.

1977-12-31

98. (1)  An annual meeting of the shareholders of the company shall be held at such time and place in each year as the letters patent or by-laws of the company provide, and in default of such provisions in that behalf an annual meeting shall be held at the place named in the letters patent as the place of the head office of the company, on the fourth Wednesday in January in every year, and, if such day be a holiday, then on the next following juridical day.

(2)  At such meeting the directors shall lay before the company,—

(a)  A balance sheet made up to a date not more than four months before such annual meeting; provided however that a company which carries on its undertaking outside Québec may, by resolution at a general meeting, extend this period to not more than six months;

(b)  A general statement of income and expenditure for the financial period ending nearest to the date of such balance sheet;

(c)  The report of the auditor or auditors;

(d)  Such further information respecting the company’s financial position as the letters patent, supplementary letters patent or by-laws of the company require.

(3)  Every balance sheet shall be drawn up so as to distinguish severally at least the following classes of assets and liabilities, namely:

(a)  Cash;

(b)  Debts owing to the company by its customers;

(c)  Debts owing to the company by its directors, officers and shareholders respectively;

(d)  Stock in trade;

(e)  Expenditures made on account of future business;

(f)  Moveable and immoveable property;

(g)  Goodwill, franchises, patents and copyrights, trade-marks, leases, contracts and licenses;

(h)  Debts owing by the company, secured by mortgage or other lien upon the property of the company;

(i)  Debts owing by the company, but not secured;

(j)  Amount of common shares, subscribed for and allotted, and the amount paid thereon, showing the amount thereof allotted for services rendered, for commissions or for assets acquired since the last annual meeting;

(k)  Amount of preferred shares subscribed for and allotted and the amount paid thereon, showing the amount thereof allotted for services rendered, for commissions or for assets acquired since the last annual meeting;

(l)  Indirect and contingent liabilities;

(m)  Amount written off on account of depreciation of plant, machinery, stock-in-trade and all other similar items.

R. S. 1964, c. 271, s. 95.