INCORPORATION, CONTINUANCE AND DISCONTINUANCE
Formalities of Incorporation
Marginal note:Incorporation of association
23. On the application of one or more persons made in accordance with this Act, the Minister may, subject to this Part, issue letters patent incorporating an association.
- 1991, c. 48, s. 23;
- 2001, c. 9, s. 256.
Marginal note:Who may apply for incorporation
24. An application for incorporation of an association may only be made by
(a) an association; or
(b) persons who are entitled to be members of an association under Part IV that include at least
(i) two central cooperative credit societies not all of which are incorporated under the laws of one province,
(ii) two local cooperative credit societies not all of which are incorporated under the laws of one province, or
(iii) two or more leagues not all of which are incorporated under the laws of one province.
- 1991, c. 48, s. 24;
- 2001, c. 9, s. 256;
- 2007, c. 6, s. 139.
Marginal note:Application for incorporation
25. (1) An application for letters patent to incorporate an association setting out the names of the first directors of the association shall be filed with the Superintendent, together with such other information, material and evidence as the Superintendent may require.
Marginal note:Publishing notice of intent
(2) Before filing an application referred to in subsection (1), one of the applicants shall, at least once a week for a period of four consecutive weeks, publish, in a form satisfactory to the Superintendent, a notice of intention to make the application in the Canada Gazette and in a newspaper in general circulation at or near the place where the head office of the association is to be situated.
Marginal note:Objections to incorporation
26. (1) Any person who objects to the proposed incorporation of an association may, within thirty days after the date of the last publication under subsection 25(2) in respect of the proposed association, submit the objection in writing to the Superintendent.
Marginal note:Minister to be informed
(2) On receipt of an objection under subsection (1), the Superintendent shall inform the Minister of the objection.
Marginal note:Inquiry into objection and report
(3) On receipt of an objection under subsection (1), and if the application for the issuance of the letters patent to which the objection relates has been received, the Superintendent shall, if satisfied that it is necessary and in the public interest to do so, hold or cause to be held a public inquiry into the objection as it relates to the application and, on completion of the inquiry, the Superintendent shall report the findings of the inquiry to the Minister.
Marginal note:Report to be made available
(4) Within thirty days after receiving a report under subsection (3), the Minister shall make the report available to the public.
Marginal note:Rules governing proceedings
(5) Subject to the approval of the Governor in Council, the Superintendent may make rules governing the proceedings at public inquiries held under this section.
- Date modified: