Capital Structure Regulations

Regulation
Registration
R-035-2007
Source
Unofficial consolidation PDF (justice.gov.nt.ca)
Under
Northwest Territories Power Corporation Act

This is an unofficial reading copy parsed from the Department of Justice consolidation PDF above — itself an office consolidation, not an official statement of the law. The authoritative text is in the Revised Statutes of the Northwest Territories, 1988 and the annual Statutes volumes.

  • s.1 amended by R-035-2007,s.2
  • s.2 amended by R-035-2007,s.3
  • s.3 amended by R-035-2007,s.4
  • s.4 amended by R-035-2007,s.5
  • s.5 repealed by R-035-2007,s.6. Yellowknife, N.W.T./2007©
Contents
1. 1 2. 2 3. 3 4. 4 5. Repealed

REGULATIONS

1.

The share capital of the Corporation as of June 30, 2007 is

(a) 431,288 common shares having a deemed value of $43,128,838.43; and

(b) one preferred share without par value.

R-035-2007,s.2.

2.

(1) The rights attached to a common share are the rights to

(a) vote at any meeting of shareholders of the Corporation;

(b) receive a dividend declared on common shares by the Corporation; and

(c) participate in the distribution of the remaining property of the Corporation on dissolution.

(2) The holder of the preferred share has the right to receive a dividend declared on that share by the Corporation. R-035-2007,s.3.

3.

(1) The Northwest Territories Hydro Corporation is deemed to have received from the Government of the Northwest Territories, on June 30, 2007 and in consideration of the payment of $1, the transfer of the 431,288 common shares referred to in paragraph 1(a).

(2) The common shares deemed to have been transferred to the Northwest Territories Hydro Corporation by subsection (1) are non-assessable and are deemed to be fully paid. R-035-2007,s.4.

4.

(1) The Government of the Northwest Territories is deemed to have received from the Corporation, on June 30, 2007 and in consideration of the payment of $1, the issue of the preferred share referred to in paragraph 1(b).

(2) The preferred share deemed to have been issued to the Government of the Northwest Territories by subsection (1) is non-assessable and is deemed to be fully paid. R-035-2007,s.5.

5.

Repealed, R-035-2007,s.6. Yellowknife, N.W.T./2007©