A New Business Corporations Act for Ontario
Article Abstract:
Ontario Bill 6, 'An Act to Rivise the Business Corporations Act' is not yet law in September 1983, but received Royal Assent. Its intention is to revise and restate the laws applying to Ontario corporations so that their is uniformity between Ontario legislation and the Canada Business Corporations Act (CBCA). The transitional rules are dealt with differently, allowing a year to change rules and by-laws to conform or they will be deemed to have conformed. The articles of incorporation are different particularly in reference to shares. The new act authorizes a floating, rather than fixed, number of directors. One difference with the CBCA provisions is that one third of the directors must be independent in contrast to the two directors required by the CBCA. The concept of 'stated' capital is used throughout instead of 'issued' or 'paid-up' capital. The concept of 'realizable value of assets' is related to 'stated capital'. Together, they are critical to determining the legality of several corporate transactions including 1) giving financial assistance to shareholders and others, 2) the acquisition of its shares, 3) the declaration of dividends, and 4) the amalgamation. An auditor of the corporation is required to be independent. Financial disclosure requirements are expected to be more burdensome. It is expected that other provinces will follow in making corporate law in Canada more uniform.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 1983
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Trusting in new ideas
Article Abstract:
New investment trusts are constantly being launched, but some of these fail to attract interest from potential investors. Of all the new issues made recenlty, the Schroder Asia Pacific Fund seems most promising. This will have the structure of an ordinary fund, along with warrants on a one for five basis. Other attractive trusts include Finsbury Technology Trust, Emerald Investment Trust and Martin Currie Japan Investment Trust.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1995
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Democratic psychiatry
Article Abstract:
The movement toward patient participation in psychiatric care began in Switzerland in 1979. Patients take responsibility for their own progress and doctors emphasize patient rights and use inpatient care only for short, acute intervention.
Publication Name: World Health
Subject: Health
ISSN: 0043-8502
Year: 1992
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