Examples of resident Canadian in a sentence
The board may from time to time appoint a managing director who shall be a resident Canadian and a director.
Subject to subsections 111(1), 114(4) and 117(1) of the Act, no business shall be transacted by the directors except at a meeting of directors at which a quorum is present and at which at least twenty-five per cent of the directors present are resident Canadians or, if the Corporation has less than four directors, at least one of the directors present is a resident Canadian.
The REIT adopted a distribution reinvestment plan (DRIP) on February 20, 2014, pursuant to which resident Canadian holders of not less than 1,000 units are entitled to elect to have all or some of the cash distributions of the REIT automatically reinvested in additional units at a price per unit calculated by reference to the weighted average of the trading price for the units for the five trading days immediately preceding the relevant distribution date.
If the Corporation has less than four directors, at least one director shall be a resident Canadian.
However, subject to the Act, if the Corporation has less than four directors, at least one director shall be a resident Canadian.