Canada Business Corporations Regulations, 2001

51 (1) For the purpose of paragraph 137(5)(d) of the Act, the prescribed minimum amount of support for a shareholder’s proposal is

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

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

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

(2) For the purpose of subsection (1), the prescribed period within which an annual meeting of shareholders must be held is five years before the receipt of a proposal.