personal representative

personal representative

Canada Business Corporations Act, R.S.C., 1985, c. C-44

31. (1) A corporation may in the capacity of a legal representative hold shares in itself or in its holding body corporate unless it or the holding body corporate or a subsidiary of either of them has a beneficial interest in the shares.

The linguistic versions differ as to content. The concepts of "legal representative" and "mandataire" used in this provision are not equivalent, the latter being broader than the former.

When amendments were made in 2001 to the Canada Business Corporations Act, the terms "mandataire/legal representative" were replaced in several provisions by "représentant personnel/personal representative" and a definition of these terms was added to subsection 2(1) of the Act. The concept of "représentant personnel/personal representative" is more appropriate in the context of this provision.

In the English version, "legal representative" is replaced by "personal representative", a term defined in subsection 2(1) of the Act.

In the French version, "mandataire" is replaced by "représentant personnel", a term defined in subsection 2(1) of the Act.

31. (1) A corporation may in the capacity of a personal representative hold shares in itself or in its holding body corporate unless it or the holding body corporate or a subsidiary of either of them has a beneficial interest in the shares.

Federal Law-Civil Law Harmonization Act, No. 3, S.C. 2011, c. 21, s. 21(1).