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Loren, Attorney
Category: Business Law
Satisfied Customers: 34057
Experience:  30 years experience representing clients .
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if a by-law is amended, is it possible for the amendment to

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if a by-law is amended, is it possible for the amendment to be applied retroactively or is this prohibited by the bcl or case law>
An amendment can take retroactive effect, but often the board chooses not to do so.   
Customer: replied 8 years ago.
is there a particular section of the bcl that says an amendment can be retroactive??? or is there a case in which it was allowed? i need a to refer to something to support the answer...
I will open the question for experts to provide citation for you.   
Customer: replied 8 years ago.
the specifics are that there is a shareholder meeting...the election of directors is the 3rd item on the agenda, but the fourth item is a by-law amendment limiting the directors' right to serve another term...since the election would precede the amendment, if passed, would it apply to the directors who have been re-elected?
My understanding is that the amendment, unless otherwise providing, would not apply to the election previously held but would limit the right of re-election for the next term.
Customer: replied 8 years ago.
that was my gut instinct, but do you kow of any case law or bcl section that would support the answer...
Customer: replied 8 years ago.
But do you have statutory or case law to back this up????
I can find no specific case or statute. Probably because the amendment would have to say it is retroactive as there would be a presumption against retroactivity unless the by-laws state otherwise.
Loren, Attorney
Category: Business Law
Satisfied Customers: 34057
Experience: 30 years experience representing clients .
Loren and other Business Law Specialists are ready to help you