Bank Act

Marginal note:Meeting called by court

• 154 (1) Where it is impracticable

  • (a) to call a meeting of shareholders of a bank in the manner in which meetings of those shareholders are to be called, or

  • (b) to conduct the meeting in the manner required by the by-laws and this Act,

  or where a court thinks fit to do so for any other reason, the court, on the application of a director or a shareholder entitled to vote at the meeting, may order a meeting to be called, held and conducted in such manner as the court directs.

• Marginal note:Varying quorum

  (2) Without restricting the generality of subsection (1), a court may order that the quorum required by the by-laws or this Act be varied or dispensed with at a meeting called, held and conducted pursuant to this section.

• Marginal note:Valid meeting

  (3) A meeting called, held and conducted pursuant to this section is for all purposes a meeting of shareholders of the bank duly called, held and conducted.