Government of Canada / Gouvernement du Canada
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Bank Act

Version of section 155 from 2003-01-01 to 2012-12-18:

Marginal note:Court review of election

  •  (1) A bank or a shareholder or director of a bank may apply to a court to resolve any dispute in respect of the election or appointment of a director or an auditor of the bank.

  • Marginal note:Powers of court

    (2) On an application under subsection (1), a court may make any order it thinks fit including, without limiting the generality of the foregoing,

    • (a) an order restraining a director or auditor whose election or appointment is challenged from acting pending determination of the dispute;

    • (b) an order declaring the result of the disputed election or appointment;

    • (c) an order requiring a new election or appointment, and including in the order directions for the management of the business and affairs of the bank until a new election is held or the new appointment is made; and

    • (d) an order determining the voting rights of shareholders and of persons claiming to own shares.

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