Marginal note:Service of notices on shareholders
145. In the absence of any other provision in this Part or in the by-laws, notices to be served by the company upon its shareholders may be served either personally or by sending them through the post, by registered mail, addressed to the shareholders at their places of abode as they appear on the books of the company.
- R.S., 1952, c. 53, s. 136.
Marginal note:Time from which service reckoned
146. A notice or other document served by post by the company on a shareholder shall be deemed to be served at the time when the registered letter containing it would be delivered in the ordinary course of post.
- R.S., 1952, c. 53, s. 137.
Marginal note:Action between company and shareholders
147. Any description of action may be prosecuted and maintained between the company and any shareholder thereof.
- R.S., 1952, c. 53, s. 138.
Marginal note:Setting forth incorporation in legal proceedings
148. In any action or other legal proceeding, it shall not be requisite to set forth the mode of incorporation of the company, otherwise than by mention of it under its corporate name as incorporated by virtue of letters patent, or of letters patent and supplementary letters patent, as the case may be.
- R.S., 1952, c. 53, s. 139.
Offences and Penalties
Marginal note:Penalties not otherwise provided for
149. Every one who, being a director, manager or officer of a company, or acting on its behalf, commits any act contrary to the provisions of this Part, or fails or neglects to comply with any such provision, is, if no penalty for such act, failure or neglect is expressly provided by this Part, liable, on summary conviction, to a fine of not more than one thousand dollars, or to imprisonment for not more than one year, or to both, but no proceeding shall be taken under this section without the consent in writing of the Minister.
- R.S., 1952, c. 53, s. 140.
Marginal note:Grounds for winding up company
150. (1) Notwithstanding any other provisions in this Act where a company
(a) fails for two or more consecutive years to hold an annual meeting of its shareholders,
(b) fails to comply with the requirements of section 128, or
(c) defaults in complying for six months or more with any requirement of section 133,
the company is liable to be wound up and dissolved under the Winding-up Act upon the application of the Attorney General of Canada to a court of competent jurisdiction for an order that the company be wound up under that Act, which application may be made upon receipt by the Attorney General of Canada of a certificate of the Minister setting forth his opinion that any of the circumstances described in paragraphs (a) to (c) apply to that company.
Marginal note:Costs of winding-up
(2) In any application to the court under subsection (1), the court shall determine whether the costs of the winding-up shall be borne by the company or personally by any or all of the directors of the company who were knowingly responsible for the company’s failure or default as described in subsection (1).
- R.S., 1970, c. C-32, s. 150;
- R.S., 1970, c. 10(1st Supp.), s. 25.
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