The Canadian Corporation Act is the governing legislation for the incorporation and maintenance of a Canadian Federal Corporation. You will find below the key extracts from the Canadian Federal Corporations act along with the full act.
The word or expression “Limited”, “Limitée”, “Incorporated”, “Incorporée”, “Corporation” or “Société par actions de régime fédéral” or the corresponding abbreviations shall be part,
(1) A corporation shall at all times have a registered office in the province in Canada specified in its articles.
(1) Articles of incorporation shall follow the form that the Director fixes and shall set out, in respect of the proposed corporation:
(2) Unless the articles otherwise provide, a director of a corporation is not required to hold shares issued by the corporation.
(3)Subject to subsection (3.1), at least twenty-five per cent of the directors of a corporation must be resident Canadians. However, if a corporation has less than four directors, at least one director must be a resident Canadian. If a corporation has only one or two directors, that director or one of the two directors, must be a resident Canadian.
(3) Where a corporation has only one class of shares, the rights of the holders thereof are equal in all respects and include the rights
(4)The articles may provide for more than one class of shares and, if they so provide,
(1) When a body corporate is dis- solved under this Part or under section 268 of this Act, section 261 of chapter 33 of the Statutes of Canada, 1974-75-76, or subsection 297(6) of the Canada Not-for-profit Corporations Act, any interested person may apply to the Director to have the body corporate revived as a corporation under this Act.
(3) On receipt of articles of revival, the Director shall issue a certificate of revival in accordance with section 262, if
(a) the body corporate has fulfilled all conditions precedent that the Director considers reasonable; and
(b) there is no valid reason for refusing to issue the certificate.