moved:
Motion No. 3
That Bill C-8 be amended by adding after line 20 on page 28 the following new clause:
“54.1 Subsection 46(2) of the Act is replaced by the following:
(2) The shareholders of a bank shall, by resolution at the meeting of shareholders called pursuant to subsection (1), a ) approve, amend or reject any by-law made by the directors of the bank; b ) subject to section 168, elect directors to hold office for a term expiring not later than the close of the third annual meeting of shareholders following the election; c ) appoint an auditor or auditors to hold office until the close of the first annual meeting of shareholders; and d ) adopt a code of internal procedure respecting the conduct of meetings of shareholders.
Motion No. 4
That Bill C-8, in Clause 63, be amended by replacing lines 21 to 33 on page 31 with the following:
“63. Subsection 138(1) of the Act is replaced by the following:
- (1) Notice of the time and place of a meeting of shareholders of a bank and the complete minutes of the last meeting of shareholders, whether that meeting was an annual or a special meeting, shall be sent not less than twenty- one days or more than fifty days before the meeting, a ) to each shareholder entitled to vote at the meeting; b ) to each director; and c ) to the auditor or auditors of the bank.
(1.1) A bank with equity of five billion dollars or more shall set out in the notice of a meeting the number of eligible votes, as defined under subsection 156.09(1), that may be cast at the meeting as of the record date for determining those shareholders entitled to receive the notice of meeting or, if there are to be separate votes of shareholders at the meeting, the number of eligible votes, as defined in that subsection, in respect of each separate vote to be held at the meeting.”