Meetings and Proposals (Banks and Bank Holding Companies) Regulations

Version of section 9 from 2006-11-28 to 2012-12-18:

  •  (1) For the purposes of paragraphs 143(5)(d) and 732(5)(d) of the Act, the prescribed minimum amount of support for a proposal is

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

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

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

  • (2) For the purposes of paragraphs 143(5)(d) and 732(5)(d) of the Act, the prescribed period is five years.

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