For a special resolution at a shareholders’ meeting under the Canada Business Corporations Act

For a special resolution at a shareholders’ meeting under the Canada Business Corporations Act

For a special resolution at a shareholders’ meeting under the Canada Business Corporations Act (CBCA), what approval threshold is required?

A. Majority of votes cast by shareholders present in person or by proxy

B. Two-thirds of votes cast by shareholders present in person or by proxy

C. Unanimous approval of all shareholders

D. Three-fourths of votes cast by shareholders present in person or by proxy

Answer: B

Explanation: CBCA requires a two-thirds majority for special resolutions (e.g., amending articles, amalgamation, dissolution); ordinary resolutions need a simple majority.