Hyperlawhypertext legal database Bank Act

← Historical versions

Versions of s. 58(4)

B-1.01 — Bank Act · 2 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

  1. 2012-12-19 to present available View Source
    In order that the amounts paid and payable under this section may be equitably borne by the shareholdersshareholders, incorporators or incorporators,members, as the case may be, the directors shall,must, after the amounts of the payments have been approved by special resolution or settled and determined by a court, fix the proportionate part thereofof the amounts chargeable to each shareholdershareholder, incorporator or incorporatormember as the ratio of the amount paid in by thethat shareholder or incorporatorperson to the aggregate of all the amounts paid in by the shareholdersshareholders, incorporators or incorporators.members.
    Full text

    In order that the amounts paid and payable under this section may be equitably borne by the shareholders, incorporators or members, as the case may be, the directors must, after the amounts of the payments have been approved by special resolution or settled and determined by a court, fix the proportionate part of the amounts chargeable to each shareholder, incorporator or member as the ratio of the amount paid in by that person to the aggregate of all the amounts paid in by the shareholders, incorporators or members.

  2. 2003-01-01 to 2012-12-19 View Source

    In order that the amounts paid and payable under this section may be equitably borne by the shareholders or incorporators, as the case may be, the directors shall, after the amounts of the payments have been approved by special resolution or settled and determined by a court, fix the proportionate part thereof chargeable to each shareholder or incorporator as the ratio of the amount paid in by the shareholder or incorporator to the aggregate of all the amounts paid in by the shareholders or incorporators.