The Complete Partnership Book (Sphinx Legal)

At our firm, we do more than connect the dots for businesses — we create the dots. The BCL is indeed very explicit as to the nature of notice for shareholder meetings, cf. The foregoing provisions essentially tracked the definition of "private company" in section 1(1) of the Securities Act which reads as follows: "private company" means a company in whose constating document, the right to transfer its shares is restricted, the number of its shareholders, exclusive of persons who are in its employment and exclusive of persons who, having been formerly in the employment of the company, were, while in that employment, and have continued after termination of that employment to be, shareholders of the company, is limited to not more than fifty, two or more persons who are the joint registered owners of one or more shares being counted as one shareholder, and As stated above, the exemptions that are set out in the Securities Act have been superseded by NI 45-106.

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