Government of Canada / Gouvernement du Canada
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Bank Act

Version of section 156.04 from 2019-06-21 to 2023-09-13:

Marginal note:Mandatory solicitation

  •  (1) Subject to subsections (2) and 140(2), the management of a bank shall, concurrently with sending notice of a meeting of shareholders, send a form of proxy that is in accordance with the regulations to each shareholder entitled to receive notice of the meeting.

  • Marginal note:Exception

    (2) The management of a bank is not required to send a form of proxy under subsection (1) if the bank

    • (a) is not a distributing bank; and

    • (b) has 50 or fewer shareholders who are entitled to vote at a meeting, two or more joint holders of a share being counted as one shareholder.

  • 1997, c. 15, s. 10
  • 2005, c. 54, s. 28
  • 2019, c. 29, s. 88
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