Under the Canada Business Corporations Act,a company may reissue the shares it previously repurchased.

Question

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Under section 39(1) of the Canada Business Corporations Act, a company may reissue shares that it has previously repurchased. However, there are certain conditions that the company must meet and procedures that it must follow. For example, the reissuance must not be at a price lower than the price at which the shares were repurchased, and the company must obtain any necessary approvals from shareholders or the board of directors.

Under the Canada Business Corporations Act,a Company May Reissue the Shares