Insurance Companies Act

Marginal note:Share certificates and election

310 A dissenting offeree to whom a notice is sent under subsection 309(1) shall within 20 days after receiving the notice

• (a) send to the offeree company the share certificates representing the shares to which the take-over bid relates; and

• (b) elect to transfer the shares to the offeror on the same terms as those on which the offeror acquired shares from the offerees who accepted the take-over bid or to demand payment of the fair value of the shares in accordance with sections 313 to 316 by notifying the offeror.