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Ontario Business Corporations Act

Part I Definitions, Interpretation and Application

Ontario Business Corporations Act
Part I Definitions, Interpretation and Application
Section 1(5)

Control

For the purposes of this Act, a body corporate shall be deemed to be controlled by another person or by two or more bodies corporate if, but only if,

(a) voting securities of the first-mentioned body corporate carrying more than 50 per cent of the votes for the election of directors are held, other than by way of security only, by or for the benefit of such other person or by or for the benefit of such other bodies corporate; and

(b) the votes carried by such securities are sufficient, if exercised, to elect a majority of the board of directors of the first-mentioned body corporate.

Ontario Business Corporations Act
Part I Definitions, Interpretation and Application
Section 1(1)

officer (OBCA)

In this Act,

“officer” means an officer designated under section 133 and includes the chair of the board of directors, a vice-chair of the board of directors, the president, a vice-president, the secretary, an assistant secretary, the treasurer, an assistant treasurer and the general manager of a corporation, and any other individual designated an officer of a corporation by by-law or by resolution of the directors or any other individual who performs functions for a corporation similar to those normally performed by an individual occupying any such office;

Ontario Business Corporations Act
Part I Definitions, Interpretation and Application
Section 1 Definitions and Interpretation

“day”

(1) In this Act,…

“day” means a clear day and a period of days shall be deemed to commence the day following the event that began the period and shall be deemed to terminate at midnight of the last day of the period except that if the last day of the period falls on a Sunday or holiday the period shall terminate at midnight of the day next following that is not a Sunday or holiday;

Note: On a day to be named by proclamation of the Lieutenant Governor, the definition of “day” in subsection 1 (1) of the Act is repealed and the following substituted: (See: 2017, c. 20, Sched. 6, s. 1 (2)) “day” means a clear day;