What is Section 256 of the Business corporation Act?
Section 256(5.11) clarifies that, for the purposes of the Income Tax Act, the determination as to whether a taxpayer (or group of taxpayers) has de facto control of a corporation must take into consideration all factors that are relevant in the circumstances and must not be limited to whether the taxpayer (or group)
What is Section 239 of the CBCA?
239 (1) Subject to subsection (2), a complainant may apply to a court for leave to bring an action in the name and on behalf of a corporation or any of its subsidiaries, or intervene in an action to which any such body corporate is a party, for the purpose of prosecuting, defending or discontinuing the action on behalf Canada Business Corporations Act ( RSC , 1985, c. C-44) justice.gc.ca eng acts section-239 justice.gc.ca eng acts section-239
What is Section 21 of the CBCA?
21 (1) Subject to subsection (1.1), shareholders and creditors of a corporation, their personal representatives and the Director may examine the records described in subsection 20(1) during the usual business hours of the corporation, and may take extracts from the records, free of charge, and, if the corporation is a
How do you add a shareholder to a corporation?
A shareholder can be added generally in two ways: the sale of shares already issued, or the issue of new shares. In the case of a sale, a shareholder disposes of part of his or her shares in return for a purchase price determined by the parties to the contract.
What is Section 247 of the CBCA?
247 If a corporation or any director, officer, employee, agent or mandatary, auditor, trustee, receiver, receiver-manager, sequestrator or liquidator of a corporation does not comply with this Act, the regulations, articles or by-laws, or a unanimous shareholder agreement, a complainant or a creditor of the corporation
What is Section 241 of the CBCA?
241 (1) A complainant may apply to a court for an order under this section. that is oppressive or unfairly prejudicial to or that unfairly disregards the interests of any security holder, creditor, director or officer, the court may make an order to rectify the matters complained of. Canada Business Corporations Act ( RSC , 1985, c. C-44) justice.gc.ca eng acts section-241 justice.gc.ca eng acts section-241
How do I remove a shareholder from a corporation in Canada?
A person ceases to be a shareholder once his or her shares are sold either to a third party or back to the corporation or when the corporation is dissolved. You do not have to notify Corporations Canada when a person becomes or ceases to be a shareholder. Share structure and shareholders canada.ca site business-corporations canada.ca site business-corporations
What is Clause 237 C of the Business Corporation Act?
An Ontario business corporation may be dissolved upon the authorization of all its incorporators or their personal representatives if the corporation has not commenced business and has not issued any shares (clause 237 (c) of the BCA). Business Corporations Act Filing Articles of Dissolution - Ontario.ca gov.on.ca resource download gov.on.ca resource download
