Canada Corporations Act

Version of section 77 from 2003-01-01 to 2010-03-11:

Marginal note:Provisions not applicable in certain cases

 Sections 75, 76, and 79 to 84 do not apply in respect of an offer by a company of its securities

  • (a) to existing holders of its securities exclusively, for subscription or in exchange for the securities held by them, where no commission or other remuneration is paid or given directly or indirectly to others in connection with such transaction, or

  • (b) to existing holders of its securities or to other creditors pursuant to an arrangement or compromise or reorganization of the company or adjustment of the rights of such holders or other creditors.

  • R.S., 1952, c. 53, s. 76.