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Canada Business Corporations Regulations, 2001

Version of section 51 from 2006-03-22 to 2010-06-09:

  •  (1) For the purpose of paragraph 137(5)(d) of the Act, the prescribed minimum amount of support for a shareholder’s proposal is

    • (a) 3% of the total number of shares voted, if the proposal was introduced at an annual meeting of shareholders;

    • (b) 6% of the total number of shares voted at its last submission to shareholders, if the proposal was introduced at two annual meetings of shareholders; and

    • (c) 10% of the total number of shares voted at its last submission to shareholders, if the proposal was introduced at three or more annual meetings of shareholders.

  • (2) For the purpose of subsection (1), the prescribed period within which an annual meeting of shareholders must be held is five years before the receipt of a proposal.

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