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Canada Corporations Act

Version of section 114.1 from 2003-01-01 to 2017-12-30:


Marginal note:Investigating ownership of securities

  •  (1) Where it appears to the Minister that, for the purposes of sections 100 to 100.6, and sections 135.1 to 135.93, there is reason to inquire into the ownership of any securities of a company, the Minister or his authorized representative may require any person whom the Minister has reasonable cause to believe

    • (a) is interested or has been interested in those securities, or

    • (b) is acting or has acted in relation to those securities as the agent or financial or investment adviser of someone interested therein,

    to give him any information that such person has or can reasonably be expected to obtain as to the present and past interests in those securities and the names and addresses of the persons interested and of any persons who act or have acted on their behalf in relation to the securities.

  • Marginal note:Presumption of interest

    (2) For the purposes of subsection (1), a person shall be deemed to have an interest in any securities if he has any right to acquire or dispose of them, or any interest therein, or to vote in respect thereof, or if his consent is necessary for the exercise of any of the rights of other persons interested therein, or if other persons interested therein can be required or are accustomed to exercise their rights in accordance with his instructions.

  • Marginal note:Publication or report

    (3) The Minister may

    • (a) forward to such person or persons as he thinks fit a copy of such part of any report made to him that relates to the ownership of any securities of a company and may cause any such report or any part thereof to be published;

    • (b) divulge as he thinks fit any information relating to the ownership of any securities of a company obtained by him as a result of his investigation and may cause any such information to be published; and

    • (c) cause to be published monthly in the periodical referred to in section 100.2, such part of such report as relates to the ownership of any securities of the company.

  • Marginal note:Offence and punishment

    (4) Any person who wilfully fails to give any information required of him under this section, or who in giving any such information knowingly makes any statement that is false in a material particular is guilty of an offence and is liable on summary conviction to a fine not exceeding one thousand dollars or to imprisonment for a term not exceeding six months or to both.

  • R.S., 1970, c. 10(1st Supp.), s. 12

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