Canada Cooperatives Act
Marginal note:Corrections at request of Director
376.1 (1) If there is an error in articles, a notice, a certificate or other document, the directors, members or shareholders must, on the request of the Director, pass the resolutions and send to the Director the documents required to comply with this Act, and take any other steps that the Director may reasonably require so that the Director may correct the document.
Marginal note:No prejudice
(2) Before proceeding under subsection (1), the Director must be satisfied that the correction would not prejudice any of the members, shareholders or creditors of the cooperative.
Marginal note:Corrections at the request of the cooperative
(3) The Director may, at the request of the cooperative or of any other interested person, accept a correction to any of the documents referred to in subsection (1) if
(a) the correction is approved by the directors of the cooperative, unless the error is obvious or was made by the Director; and
(b) the Director is satisfied that the correction would not prejudice any of the members, shareholders or creditors of the cooperative and that the correction reflects the original intention of the cooperative or the incorporators, as the case may be.
Marginal note:Application to court
(4) If, in the view of the Director, of the cooperative or of any interested person who wishes a correction, a correction to any of the documents referred to in subsection (1) would prejudice any of the members, shareholders or creditors of a cooperative, the Director, the cooperative or the person, as the case may be, may apply to the court for an order that the document be corrected and for an order determining the rights of the members, shareholders or creditors.
Marginal note:Notice to Director
(5) An applicant under subsection (4) must give the Director notice of the application, and the Director is entitled to appear and to be heard in person or by counsel.
Marginal note:Director may require surrender of document
(6) The Director may demand the surrender of the original document, and may issue a corrected certificate or file the corrected articles, notice or other document.
Marginal note:Date of corrected document
(7) A corrected document must bear the date of the document it replaces unless
(8) If a corrected certificate materially amends the terms of the original certificate, the Director must without delay give notice of the correction in a publication generally available to the public.
- 2001, c. 14, s. 230
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