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Alteration of Capital, Objects and Powers

34. (1)

Subject to confirmation by letters patent in accordance with this section, the company may, when authorized by by-law sanctioned by at least two-thirds of the votes cast at a special general meeting of the shareholders called for the purpose,


extend the objects of the company to include any objects, other than broadcasting, for which a company may be incorporated under the Canada Corporations Act, chapter C-32 of the Revised Statutes of Canada, 1970;


reduced, limit, amend or vary the objects or powers of the company;


reduce the number of shares authorized;


increase, decrease or otherwise alter the authorized capital of the company; or


cancel any shares of the company that, at the date of the enactment of the by-law, have not been subscribed for or agreed to be issued, and diminish the amount of the authorized capital of the company by the amount of the shares so cancelled.


The member of the Queen's Privy Council for Canada charged with the administration of the Canada Corporations Act, chapter C-32 of the Revised Statutes of Canada, 1970, may issue letters patent for the purpose of this section and the letters patent shall be laid before Parliament not later than fifteen days after their issue or, if Parliament is not then sitting, on any of the first five days next thereafter that either House of Parliament is sitting.


The letters patent referred to in subsection (2) become effective on the thirtieth sitting day after they have been laid before Parliament unless before that day either House of Parliament resolves that the letters patent shall be annulled, in which case the letters patent are thereupon annulled and of no effect. R.S., c. T-4, s. 33.

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