Order Authorizing Air Canada to Apply for Articles of Amendment to Amend its Articles of Incorporation

SOR/88-504

FINANCIAL ADMINISTRATION ACT

Registration 1988-09-23

Order Authorizing Air Canada to Apply for Articles of Amendment to Amend its Articles of Incorporation

P.C. 1988-2215  1988-09-22

Whereas Air Canada is a parent Crown corporation and subject to Part XII of the Financial Administration Act;

Whereas subsection 101(4)Footnote * of the Financial Administration Act requires that any application for articles in respect of a parent Crown corporation be authorized by the Governor in Council;

Whereas the proposed application for articles of amendment in respect of Air Canada does not add or otherwise make a material change in the objects or purposes for which Air Canada was incorporated or the restrictions on the business or activities that Air Canada may carry on, as set out in its articles;

And Whereas, pursuant to subsection 101(6)Footnote * of the Financial Administration Act, the Governor in Council is satisfied that Air Canada is otherwise empowered to amend its articles pursuant to section 167Footnote ** of the Canada Business Corporations ActFootnote ***;

Therefore, Her Excellency the Governor General in Council, on the recommendation of the President of the Queen’s Privy Council, pursuant to subsection 101(4)Footnote * of the Financial Administration Act, is pleased hereby to authorize Air Canada to apply for articles of amendment to amend its articles of incorporation to divide the presently issued and outstanding 329,009 common shares of the share capital of Air Canada on the basis of 125 common shares for 1 common share, so that there will be issued and outstanding 41,126,125 common shares.

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