It could happen theoretically, but they would never choose this statute in order to do that. Why not use a business corporation statute where there's an unlimited amount? There's no audit requirement for a business corporation statute and there's no monetary threshold. A private business corporation could be used, and you can go under any province federally.
The reason you'd never want to use this statute is that the promoters of the corporation, as Mr. Stevens explained, can receive no benefit until it liquidates. You're not going to set up this type of corporation in order to receive a benefit, because the statute prohibits you from receiving a benefit until it liquidates.
If that's a problem—I don't really think it is, frankly—it's not with this statute. It's really an irrelevant point.