Hello,
I apologize for not confirming when your corporation was established.
All this means is that the law for which we apply under is not the Company Act but the
Business Corporations Act.However you do have rights under the BCA, so I am confused why this lawyer would just blanket out and say nothing applies.
If a meeting has been called you are allowed under the BCA to make a proposal.
Have a read of this section and tell me what you think.
Shareholder proposals
136(1) A registered holder of shares entitled to vote at an annual meeting of shareholders, or a beneficial owner of shares, may
(a) submit to the corporation notice of any matter related to the business or affairs of the corporation that the registered holder or beneficial owner of shares proposes to raise at the meeting, referred to in this section as a “proposal”, and
(b) discuss at the meeting any matter in respect of which the registered holder or beneficial owner of shares would have been entitled to submit a proposal.
(1.1) To be eligible to make a proposal a person must
(a) be a registered holder or beneficial owner of the prescribed number of shares for the prescribed period,
(b) have the prescribed level of support of other registered holders or beneficial owners of shares,
(c) provide to the corporation his or her name and address and the names and addresses of those registered holders or beneficial owners of shares who support the proposal, and
(d) continue to hold or own the prescribed number of shares up to and including the day of the meeting at which the proposal is to be made.
(1.2) The information provided under subsection (1.1)(c) does not form part of the proposal or the supporting statement referred to in subsection (3) and is not included for the purposes of the maximum word limit set out in subsection (3).
(2) A corporation that solicits proxies shall set out the proposal in the management proxy circular required by section 150 or attach the proposal to it.
(3) If so requested by the registered holder or beneficial owner of shares, the corporation shall include in the management proxy circular or attach to it a statement by the registered holder or beneficial owner of shares of not more than 200 words in support of the proposal, and the name and address of the registered holder or beneficial owner of shares.
(4) A proposal may include nominations for the election of directors if the proposal is signed by one or more registered holders of shares representing in the aggregate not less than 5% of the shares or 5% of the shares of a class of shares of the corporation entitled to vote at the meeting to which the proposal is to be presented, or by beneficial owners of shares representing in the aggregate the same percentage of shares, but this subsection does not preclude nominations made at a meeting of shareholders.
(5) A corporation is not required to comply with subsections (2) and (3) if
(a) the proposal is not submitted to the corporation at least 90 days before the anniversary date of the previous annual meeting of shareholders,
(b) it clearly appears that the proposal has been submitted by the registered holder or beneficial owner of shares primarily for the purpose of enforcing a personal claim or redressing a personal grievance against the corporation, its directors, officers or security holders or any of them, or primarily for the purpose of promoting general economic, political, racial, religious, social or similar causes,
(c) the corporation, at the request of the registered holder or beneficial owner of shares, included a proposal in a management proxy circular relating to a meeting of shareholders held within 2 years preceding the receipt of the request, and the registered holder or beneficial owner of shares failed to present the proposal, in person or by proxy, at the meeting,
(d) substantially the same proposal was submitted to registered holders or beneficial owners of shares in a management proxy circular or a dissident’s proxy circular relating to a meeting of shareholders held within 2 years preceding the receipt of the request of the registered holder or beneficial owner of shares and the proposal was defeated, or
(e) the rights being conferred by this section are being abused to secure publicity.
(6) No corporation or person acting on its behalf incurs any liability by reason only of circulating a proposal or statement in compliance with this section.
(7) If a corporation refuses to include a proposal in a management proxy circular, the corporation shall, within 10 days after receiving the proposal, notify the registered holder or beneficial owner of shares submitting the proposal of its intention to omit the proposal from the management proxy circular and send to the registered holder or beneficial owner of shares a statement of the reasons for the refusal.
(8) On the application of a registered holder or beneficial owner of shares claiming to be aggrieved by a corporation’s refusal under subsection (7), the Court may restrain the holding of the meeting to which the proposal is sought to be presented and make any further order it thinks fit.
(9) The corporation or any person claiming to be aggrieved by a proposal may apply to the Court for an order permitting the corporation to omit the proposal from the management proxy circular, and the Court may, if it is satisfied that subsection (5) applies, make any order it thinks fit.