Canada Cooperatives Act (S.C. 1998, c. 1)

Act current to 2014-10-15 and last amended on 2012-12-19. Previous Versions

PART 9PROXIES

Marginal note:Interpretation
  •  (1) The definitions in this subsection apply in this Part.

    “form of proxy”

    « formulaire de procuration »

    “form of proxy” means a written or printed form that, on completion and execution or, in Quebec, on signing by or on behalf of a shareholder, becomes a proxy.

    “intermediary”

    « intermédiaire »

    “intermediary” means a person who holds a security on behalf of another person who is not the registered holder of the security, and includes

    • (a) a securities broker or dealer required to be registered to trade or deal in securities under the laws of any jurisdiction;

    • (b) a securities depositary;

    • (c) a financial institution;

    • (d) in respect of a clearing agency, a securities dealer, trust company, bank or other person, including another clearing agency, on whose behalf the clearing agency or its nominees hold securities of an issuer;

    • (e) a trustee or administrator of a self-administered retirement savings plan, retirement income fund, education savings plan or other similar self-administered savings or investment plan registered under the Income Tax Act;

    • (f) a nominee of a person referred to in any of paragraphs (a) to (e); and

    • (g) a person who carries out functions similar to those carried out by individuals or entities referred to in any of paragraphs (a) to (e) and that holds a security registered in its name, or in the name of its nominee, on behalf of another person who is not the registered holder of the security.

    “solicit” or “solicitation”

    « sollicitation »

    “solicit” or “solicitation”

    • (a) includes

      • (i) a request for a proxy whether or not accompanied by or included in a form of proxy,

      • (ii) a request to execute or not to execute or, in Quebec, to sign or not to sign a form of proxy or to revoke a proxy,

      • (iii) the sending of a form of proxy or other communication to a shareholder under circumstances reasonably calculated to result in the procurement, withholding or revocation of a proxy, and

      • (iv) the sending of a form of proxy to a shareholder under section 165; but

    • (b) does not include

      • (i) the sending of a form of proxy in response to an unsolicited request made by or on behalf of a shareholder,

      • (ii) the performance of administrative acts or professional services on behalf of a person soliciting a proxy,

      • (iii) the sending by an intermediary of the documents referred to in section 169,

      • (iv) a solicitation by a person in respect of investment shares of which they are the beneficial owner,

      • (v) a public announcement, as prescribed, by a shareholder of how the shareholder intends to vote and the reasons for that decision,

      • (vi) a communication for the purposes of obtaining the number of investment shares required for a proposal under subsection 58(2.1), or

      • (vii) a communication, other than a solicitation by or on behalf of the management of the cooperative, that is made to shareholders, in any circumstances that may be prescribed.

    “solicitation by or on behalf of the management of a cooperative”

    « sollicitation effectuée par la direction ou pour son compte »

    “solicitation by or on behalf of the management of a cooperative” means a solicitation by a person pursuant to a resolution or instructions of, or with the acquiescence of, the directors or a committee of directors.

  • Marginal note:Membership and membership shares excluded

    (2) This Part does not apply to a member or membership shares, but a member who is a shareholder may exercise the rights given to a shareholder by this Part for all investment shares held.

  • 1998, c. 1, s. 163;
  • 2001, c. 14, s. 185;
  • 2011, c. 21, s. 86(E).