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Bank Act

Version of section 154 from 2003-01-01 to 2006-11-27:


Marginal note:Meeting called by court

  •  (1) Where it is impracticable

    • (a) to call a meeting of shareholders of a bank in the manner in which meetings of those shareholders are to be called, or

    • (b) to conduct the meeting in the manner required by the by-laws and this Act,

    or where a court thinks fit to do so for any other reason, the court, on the application of a director or a shareholder entitled to vote at the meeting, may order a meeting to be called, held and conducted in such manner as the court directs.

  • Marginal note:Varying quorum

    (2) Without restricting the generality of subsection (1), a court may order that the quorum required by the by-laws or this Act be varied or dispensed with at a meeting called, held and conducted pursuant to this section.

  • Marginal note:Valid meeting

    (3) A meeting called, held and conducted pursuant to this section is for all purposes a meeting of shareholders of the bank duly called, held and conducted.

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