Canada Business Corporations Regulations, 2001

46 For the purpose of subsection 137(1.1) and paragraph 261(1)(c.1) of the Act,

• (a) the prescribed number of shares is the number of voting shares

  • (i) that is equal to 1% of the total number of the outstanding voting shares of the corporation, as of the day on which the shareholder submits a proposal, or

  • (ii) whose fair market value, as determined at the close of business on the day before the shareholder submits the proposal to the corporation, is at least $2,000; and

• (b) the prescribed period is the six-month period immediately before the day on which the shareholder submits the proposal.