This two-volume set puts forth proposals for an Act to reform the law of Alberta relating to business corporation. This first volume (“Report”) discusses the principles and policies upon which a business corporations statute for Alberta should be based.
The purpose of this report is to recommend the adoption of a statute that embodies the basic law of business corporations. It should apply to all business corporations incorporated under the Alberta Corporations Act or its predecessors. Since provisions throughout the draft Act would make detailed changes in the business corporation law of Alberta, a detailed examination of the draft Act and the comments on each section is required for complete comprehension. Topic areas of major specific reforms include: incorporation, capacity and powers, corporate finance, security certificates, registers and transfers, trust indentures, registration of debt obligations, receivers and receiver-managers, directors and officers, shareholders, financial disclosure, fundamental change, liquidation and dissolution, investigation, and remedies, offences and penalties.