Meetings and Proposals (Banks and Bank Holding Companies) Regulations

Version of section 4 from 2006-11-28 to 2012-12-18:

  •  (1) For the purposes of subsections 143(1.1) and 732(1.1) of the Act, the prescribed number of the bank’s or the bank holding company’s outstanding shares is the number of voting shares

    • (a) that is equal to 1% of the total number of the bank’s or the bank holding company’s outstanding voting shares as of the day on which the proposal is submitted; or

    • (b) whose fair market value, as determined at the close of business on the day before the day on which the proposal is submitted, is at least $2,000.

  • (2) For the purposes of subsections 143(1.1) and 732(1.1) of the Act, the prescribed period for the person to have been the registered holder or beneficial owner is the six-month period immediately before the day on which the proposal is submitted.

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