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Ontario Business Corporations Act
Regulation 62 General
Section 30

Management Information Circular

A management information circular shall contain the following information:

Particulars of Matters to be Acted Upon

Item 31 If action is to be taken with respect to any matter other than the approval of minutes of an earlier meeting or the approval of financial statements, the substance of each such matter or group of related matters, to the extent it has not been described under another provision in this section, in sufficient detail to permit shareholders to form a reasoned judgment concerning the matter.

Item 32. For the purpose of paragraph 31, where a reorganization or similar restructuring is involved, reference should be made to a prospectus form or other appropriate form under the Securities Act, including requirements with respect to financial statements, for guidance as to what is material.