Trust and Loan Companies Act

Marginal note:Application to court

• 294 (1) Where a dissenting offeree has elected to demand payment of the fair value of the offeree’s shares as described in subparagraph 290(1)(c)(ii), the offeror may, within twenty days after it has paid the money or transferred the other consideration under subsection 292(1), apply to a court to fix the fair value of the shares of that dissenting offeree.

• Marginal note:Idem

  (2) If an offeror fails to apply to a court under subsection (1), a dissenting offeree may apply to a court for the same purpose within a further period of twenty days.

• Marginal note:Venue

  (3) An application under subsection (1) or (2) shall be made to a court having jurisdiction in the place at which the head office of the company is situated or in the province in which the dissenting offeree resides if the company carries on business in that province.

• Marginal note:No security for costs

  (4) A dissenting offeree is not required to give security for costs in an application made under subsection (1) or (2).