Marginal note:Cooperative Energy Corporation incorporated

• 3. (1) A corporation is hereby incorporated, to be known as the “Cooperative Energy Corporation” in English and “Société coopérative de l’énergie” in French.

• Marginal note:Dissolution of Corporation

  (2) The Corporation may be dissolved under the Canada Business Corporations Act.

Marginal note:Express authorization to use word “cooperative”

• 4. (1) The Corporation may use the words “cooperative” and “co-op” or either of them or any abbreviation or derivation of either of them as part of its corporate name or in any other manner in connection with the conduct of its business during such period of time as there are no holders of any class of shares of the Corporation, other than

  • (a) cooperatives; or

  • (b) cooperatives and Her Majesty in right of Canada as represented by the Minister.

• Marginal note:Authorization to use word “Société”

  (2) The word “Société” or the abbreviation “S.” may be part of the name of the Corporation in its French form instead of any other word or abbreviation mentioned in subsection 10(1) of the Canada Business Corporations Act.

Marginal note:Capitalization

5. The classes of shares that the Corporation is authorized to issue and the rights, privileges, restrictions and conditions attaching to each such class of shares are set out in the schedule.

Marginal note:Partly paid shares permitted

6. Shares of a class of the Corporation may be issued as partly paid or with no payment having been made thereon, on the terms of payment determined by the directors of the Corporation, if the rights, privileges, restrictions and conditions attaching to the shares of that class so provide.

Marginal note:First directors

• 7. (1) The first directors of the Corporation shall be such persons as may be appointed by the Governor in Council.

• Marginal note:Idem

  (2) Each director appointed pursuant to subsection (1) holds office until the first meeting of shareholders of the Corporation.

Marginal note:Application of Canada Business Corporations Act

• 8. (1) Except where inconsistent with this Act, the Canada Business Corporations Act and any regulations made thereunder apply to the Corporation, with such modifications as the circumstances require, as if it were a corporation incorporated under that Act.

• Marginal note:Articles of incorporation

  (2) Where a provision of the Canada Business Corporations Act or any other Act of Parliament or any Act of the legislature of a province or any regulation made under any such Act that applies in respect of the Corporation makes reference or has application to articles of incorporation, the provision shall be construed in relation to the Corporation as a reference to the schedule.

• Marginal note:Agreement is unanimous shareholder agreement

  (3) In the application of this Act and the Canada Business Corporations Act and any regulations made thereunder to the Corporation, the Agreement is deemed to be a unanimous shareholder agreement within the meaning of the Canada Business Corporations Act.