Government of Canada / Gouvernement du Canada
Symbol of the Government of Canada

Search

Bank Act

Version of section 138 from 2012-12-19 to 2022-07-25:


Marginal note:Notice of meeting

  •  (1) Notice of the time and place of a meeting of shareholders or members of a bank must be sent within the prescribed period to

    • (a) each shareholder or member entitled to vote at the meeting;

    • (b) each director;

    • (c) the auditor or auditors of the bank; and

    • (d) the Superintendent.

  • Marginal note:Exception

    (1.01) In the case of a bank that is not a federal credit union and that is not a distributing bank, notice may be sent within any shorter period specified in its by-laws.

  • Marginal note:Number of eligible votes

    (1.1) A bank with equity of twelve billion dollars or more that is not a federal credit union must set out in the notice of a meeting the number of eligible votes, as defined under subsection 156.09(1), that may be cast at the meeting as of the record date for determining shareholders entitled to receive the notice of meeting or, if there are to be separate votes of shareholders at the meeting, the number of eligible votes, as defined in that subsection, in respect of each separate vote to be held at the meeting.

  • Marginal note:Publication in newspaper

    (2) In addition to the notice required under subsection (1), where any class of shares of a bank is publicly traded on a recognized stock exchange in Canada, notice of the time and place of a meeting of shareholders shall be published once a week for at least four consecutive weeks before the date of the meeting in a newspaper in general circulation in the place where the head office of the bank is situated and in each place in Canada where the bank has a transfer agent or where a transfer of the bank’s shares may be recorded.

  • 1991, c. 46, s. 138
  • 2001, c. 9, s. 63
  • 2005, c. 54, s. 18
  • 2007, c. 6, s. 132
  • 2010, c. 12, s. 1950
  • 2012, c. 5, ss. 5, 223
Date modified: