Canada Business Corporations Act

Version of section 30 from 2003-01-01 to 2011-11-28:

Marginal note:Corporation holding its own shares
  •  (1) Subject to subsection (2) and sections 31 to 36, a corporation

    • (a) shall not hold shares in itself or in its holding body corporate; and

    • (b) shall not permit any of its subsidiary bodies corporate to acquire shares of the corporation.

  • Marginal note:Subsidiary holding shares of its parent

    (2) Subject to section 31, a corporation shall cause a subsidiary body corporate of the corporation that holds shares of the corporation to sell or otherwise dispose of those shares within five years from the date

    • (a) the body corporate became a subsidiary of the corporation; or

    • (b) the corporation was continued under this Act.

  • R.S., 1985, c. C-44, s. 30;
  • 2001, c. 14, s. 17.
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