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Canada Business Corporations Regulations, 2001

Version of section 46 from 2006-03-22 to 2010-06-09:

 For the purpose of subsection 137(1.1) and paragraph 261(1)(c.1) of the Act,

  • (a) the prescribed number of shares is the number of voting shares

    • (i) that is equal to 1% of the total number of the outstanding voting shares of the corporation, as of the day on which the shareholder submits a proposal, or

    • (ii) whose fair market value, as determined at the close of business on the day before the shareholder submits the proposal to the corporation, is at least $2,000; and

  • (b) the prescribed period is the six-month period immediately before the day on which the shareholder submits the proposal.

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