Government of Canada / Gouvernement du Canada
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Bank Act

Version of section 46 from 2012-12-19 to 2024-06-19:

Marginal note:Calling shareholders’ meeting

  •  (1) If at least five million dollars, or any greater amount that the Minister may specify, has been received by a bank in respect of which letters patent were issued under subsection 22(1) from the issue of its shares, the directors of the bank must without delay call a meeting of the shareholders of the bank.

  • Marginal note:Meeting of shareholders

    (2) The shareholders of a bank shall, by resolution at the meeting of shareholders called pursuant to subsection (1),

    • (a) approve, amend or reject any by-law made by the directors of the bank;

    • (b) subject to section 168, elect directors to hold office for a term expiring not later than the close of the third annual meeting of shareholders following the election; and

    • (c) appoint an auditor or auditors to hold office until the close of the first annual meeting of shareholders.

  • 1991, c. 46, s. 46
  • 2001, c. 9, s. 54
  • 2010, c. 12, s. 1922

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