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