Joint ventures are an increasingly common part of commercial arrangements. But the legal landscape has not kept up with commercial arrangements. There is a lack of fit between the applicable law and the exigencies of present day joint ventures and the resulting uncertainty is not good for the participants. This report recommends removing the uncertainty by specifying a clear result if a joint venture does two things: declare it is not a partnership; and use […]
|AREA OF LAW||Corporate and Commercial|
|TAGS||joint venture, shareholder, private, partnership, business, commercial, company, corporation|
May 4, 2011
This report contains draft legislation and recommends that a company incorporated under the Alberta Companies Act be permitted to purchase shares which it has issued. Under the recommendations, the portion of the price representing the consideration received by the company for issuing the shares in the first place must be allocated to reducing paid-up capital. Furthermore, the remainder of the price may be deducted from any surplus account that the directors designate. This power may […]
|TAGS||cap, company, corporation, dividend, issue, purchase, share|
The Companies Amendment Act, 1977, SA 1977, c 13, s 2 (now Business Corporations Act, RSA 2000, c B-9, ss 30 and 31).
January 1, 1977