All sections · Part XI: Mergers, Consolidations And Arrangements · Sub-Part III: Forced Redemptions
207 Redemption of minority shares
(1) Subject to the memorandum or articles of a company —
(a) members of the company holding ninety per cent of the votes
of the outstanding shares entitled to vote; and
(b) members of the company holding ninety per cent of the votes
of the outstanding shares of each class of shares entitled to vote
as a class, may, in connection with a merger or consolidation,
give a written instruction to the company directing it to redeem
the shares held by the remaining members.
(2) Upon receipt of the written instruction referred to in subsection (1), the
company shall redeem the shares specified in the written instruction
irrespective of whether or not the shares are by their terms redeemable.
(3) The company shall give written notice to each member whose shares are
to be redeemed stating the redemption price and the manner in which the
redemption is to be effected. (4) This section is subject to section 210.
(a) members of the company holding ninety per cent of the votes
of the outstanding shares entitled to vote; and
(b) members of the company holding ninety per cent of the votes
of the outstanding shares of each class of shares entitled to vote
as a class, may, in connection with a merger or consolidation,
give a written instruction to the company directing it to redeem
the shares held by the remaining members.
(2) Upon receipt of the written instruction referred to in subsection (1), the
company shall redeem the shares specified in the written instruction
irrespective of whether or not the shares are by their terms redeemable.
(3) The company shall give written notice to each member whose shares are
to be redeemed stating the redemption price and the manner in which the
redemption is to be effected. (4) This section is subject to section 210.
