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Canada Cooperatives Act

Version of section 145 from 2003-01-01 to 2011-11-28:

Marginal note:Exception for holding own shares

  •  (1) A cooperative may, and may permit its subsidiaries to, hold, in the capacity of a legal representative, shares in itself or in its holding body corporate only if the cooperative, holding body corporate or subsidiary does not have a beneficial interest in the shares.

  • Marginal note:Holding shares by way of security

    (2) A cooperative may hold shares in itself or its holding body corporate by way of security for the purposes of a transaction entered into by it in the ordinary course of a business that includes the lending of money.

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