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Bank Act

Version of section 286 from 2006-11-28 to 2024-05-28:


Marginal note:Share certificates and election

 A dissenting offeree to whom a notice is sent under subsection 285(1) shall within 20 days after receiving the notice

  • (a) send to the offeree bank the share certificates representing the shares to which the take-over bid relates; and

  • (b) elect to transfer the shares to the offeror on the same terms as those on which the offeror acquired shares from the offerees who accepted the take-over bid or to demand payment of the fair value of the shares in accordance with sections 289 to 292 by notifying the offeror.

  • 1991, c. 46, s. 286
  • 2005, c. 54, s. 61

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