Insurance Companies Act (S.C. 1991, c. 47)

Marginal note:Notice of refusal

• 148. (1) If a company refuses to attach a proposal to a notice of a meeting, it shall in writing notify the person submitting the proposal of its intention not to attach the proposal to the notice of the meeting and of the reasons for the refusal. It shall notify the person within the prescribed period after either the day on which it receives the proposal or, if it has requested proof under subsection 147(1.4), the day on which it receives the proof.

• Marginal note:Application to court

  (2) On the application of a person submitting a proposal who claims to be aggrieved by a company’s refusal under subsection (1), a court may restrain the holding of the meeting at which the proposal is sought to be presented and make any further order that it thinks fit.

• Marginal note:Idem

  (3) A company or any person claiming to be aggrieved by a proposal may apply to a court for an order permitting the company not to attach the proposal to the notice of the meeting, and the court, if it is satisfied that subsection 147(5) applies, may make such order as it thinks fit.

• Marginal note:Notice to Superintendent

  (4) An applicant under subsection (2) or (3) shall give the Superintendent written notice of the application and the Superintendent may appear and be heard at the hearing of the application in person or by counsel.

Marginal note:Lists of shareholders and policyholders

• 149. (1) A company shall prepare an alphabetical list

  • (a) of shareholders entitled to receive notice of a meeting showing the number of shares held by each shareholder

    • (i) if a record date is fixed under subparagraph 142(1)(c)(i), no later than 10 days after that date, and

    • (ii) if no record date is fixed, on the record date determined under paragraph 142(2)(a); and

  • (b) of policyholders entitled to vote at a meeting

    • (i) if a record date is fixed under subparagraph 142(1)(d)(ii), no later than the day on which the meeting is held, and

    • (ii) if no record date is fixed, on the record date determined under paragraph 142(3)(b).

• Marginal note:Shareholder voting list

  (1.1) The company shall prepare an alphabetical list of shareholders entitled to vote as of the record date showing the number of shares held by each shareholder

  • (a) if a record date is fixed under subparagraph 142(1)(c)(ii), no later than 10 days after that date; and

  • (b) if no record date is fixed under subparagraph 142(1)(c)(ii), no later than 10 days after a record date is fixed under subparagraph 142(1)(c)(i) or no later than the record date determined under paragraph 142(2)(a), as the case may be.

• (1.2) [Repealed, 2005, c. 54, s. 234]

• Marginal note:Entitlement to vote — shareholders

  (2) Subject to section 164.08, a shareholder whose name appears on a list prepared under subsection (1.1) is entitled to vote the shares shown opposite their name.

• Marginal note:Entitlement to vote — policyholders

  (3) A policyholder whose name appears on a list prepared under paragraph (1)(b) is entitled to vote at the meeting to which the list relates.

• Marginal note:Examination of shareholder list

  (4) A shareholder or policyholder may examine the list of shareholders

  • (a) during usual business hours at the head office of the company or at the place where its central securities register is maintained; and

  • (b) at the meeting of shareholders for which the list was prepared.

• Marginal note:Verification of right of policyholder to vote

  (5) A shareholder or policyholder of a company may, at the meeting of policyholders for which the list referred to in subsection (1) was prepared, require the company to verify from that list whether a person identified both by name and by some other distinguishing feature is entitled to vote at that meeting.