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C-44 - Gas, Water and Electricity Companies Act

Section 49
Disposition versions

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49. A majority of the stockholders present at such meeting may pass a by-law increasing the capital stock of the company to such amount as they deem necessary for carrying out the purposes of the company, but not in the whole exceeding the amount mentioned in section 5, and authorizing the raising of such additional capital by increasing the number of shares of $20 each into which the capital of the company is divided, and enabling the directors to receive subscriptions for the whole or for any part of such additional capital from any person under such regulations as may be made by the directors in that behalf.
R. S. 1964, c. 285, s. 49; 1999, c. 40, s. 73.
49. A majority of the stockholders present at such meeting may pass a by-law increasing the capital stock of the company to such amount as they deem necessary for carrying out the purposes of the company, but not in the whole exceeding the amount mentioned in section 5, and authorizing the raising of such additional capital by increasing the number of shares of $20 each into which the capital of the company is divided, and enabling the directors to receive subscriptions for the whole or for any part of such additional capital from any person or corporation, or otherwise, under such regulations as may be made by the directors in that behalf.
R. S. 1964, c. 285, s. 49.
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