Marginal note:Duty of offeree bank
288 Within thirty days after an offeror sends an offeror’s notice under subsection 285(1), the offeree bank shall
(a) issue to the offeror a share certificate in respect of the shares that were held by dissenting offerees;
(b) give to each dissenting offeree who elects to transfer shares as described in subparagraph 285(1)(c)(i) and who sends the share certificates as required under section 286, the money or other consideration to which that dissenting offeree is entitled, disregarding fractional shares, which may be paid for in money; and
(c) send to each dissenting offeree who has not sent share certificates as required under section 286 a notice stating that
(i) the shares have been cancelled,
(ii) the offeree bank or some designated person holds in a fiduciary capacity for that offeree the money or other consideration to which that offeree is entitled as payment for or in exchange for the shares, and
(iii) the offeree bank will, subject to sections 289 to 292, send that money or other consideration to that offeree forthwith after receiving the share certificates.
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