Canada Business Corporations Act (R.S.C., 1985, c. C-44)

Marginal note:Shares

• 24 (1) Shares of a corporation shall be in registered form and shall be without nominal or par value.

• Marginal note:Transitional

  (2) When a body corporate is continued under this Act, a share with nominal or par value issued by the body corporate before it was so continued is, for the purpose of subsection (1), deemed to be a share without nominal or par value.

• Marginal note:Rights attached to shares

  (3) Where a corporation has only one class of shares, the rights of the holders thereof are equal in all respects and include the rights

  • (a) to vote at any meeting of shareholders of the corporation;

  • (b) to receive any dividend declared by the corporation; and

  • (c) to receive the remaining property of the corporation on dissolution.

• Marginal note:Rights to classes of shares

  (4) The articles may provide for more than one class of shares and, if they so provide,

  • (a) the rights, privileges, restrictions and conditions attaching to the shares of each class shall be set out therein; and

  • (b) the rights set out in subsection (3) shall be attached to at least one class of shares but all such rights are not required to be attached to one class.