Canada Business Corporations Act
Marginal note:Corporation holding its own shares
30 (1) Subject to subsection (2) and sections 31 to 36, a corporation
(a) shall not hold shares in itself or in its holding body corporate; and
(b) shall not permit any of its subsidiary bodies corporate to acquire shares of the corporation.
Marginal note:Subsidiary holding shares of its parent
(2) Subject to section 31, a corporation shall cause a subsidiary body corporate of the corporation that holds shares of the corporation to sell or otherwise dispose of those shares within five years from the date
(a) the body corporate became a subsidiary of the corporation; or
(b) the corporation was continued under this Act.
- R.S., 1985, c. C-44, s. 30
- 2001, c. 14, s. 17
- Date modified: