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Canada Corporations Act

Version of section 215 from 2003-01-01 to 2011-10-16:


Marginal note:Power to establish and support associations to benefit employees, pension funds, and subscribe for charitable objects

  •  (1) Notwithstanding anything in sections 2 and 160, every corporate body created otherwise than by letters patent for any of the purposes or objects to which the legislative authority of the Parliament of Canada extends, is hereby declared to possess, as incidental and ancillary to the powers conferred by the Special Act or charter creating it, power to establish and support or aid in the establishment and support of associations, institutions, funds, trusts and conveniences intended or calculated to benefit employees or ex-employees of the corporation, or of its predecessors in business, or the dependants or connections of such persons, and to grant pensions and allowances, and to make payments toward insurance, or for any object like or similar to those foregoing and to subscribe or guarantee money for charitable or benevolent objects or for any public, general or useful object.

  • Marginal note:Amount fixed by resolution

    (2) The amount expended or to be expended for any of the purposes mentioned in subsection (1) shall be determined once for all, each financial year, by one resolution only of the board of directors or other governing or administrative body of the corporation, or if preferred and so declared in the first resolution to be passed for each year, by several resolutions of the same authority each year.

  • R.S., 1952, c. 53, s. 208

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