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Canada Cooperatives Act

Version of section 145 from 2011-11-29 to 2022-09-22:

Marginal note:Exception for holding own shares

  •  (1) A cooperative may, and may permit its subsidiaries to, hold, in the capacity of a personal representative, shares in itself or in its holding body corporate only if the cooperative, holding body corporate or subsidiary does not have a beneficial interest in the shares.

  • Marginal note:Holding shares by way of security

    (2) A cooperative may hold shares in itself or its holding body corporate by way of security for the purposes of a transaction entered into by it in the ordinary course of a business that includes the lending of money.

  • 1998, c. 1, s. 145
  • 2011, c. 21, s. 85
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