Section 154 — Canada Business Corporations Act: Restraining order

If a form of proxy, management proxy circular or dissident’s proxy circular contains an untrue statement of a material fact or omits to state a material fact required therein or necessary to make a statement contained therein not misleading in the light of the circumstances in which it was made, an interested person or the Director may apply to a court and the court may make any order it thinks fit including, without limiting the generality of the foregoing, an order restraining the solicitation, the holding of the meeting, or any person from implementing or acting on any resolution passed at the meeting to which the form of proxy, management proxy circular or dissident’s proxy circular relates; an order requiring correction of any form of proxy or proxy circular and a further solicitation; and an order adjourning the meeting. An applicant under this section shall give to the Director notice of the application and the Director is entitled to appear and to be heard in person or by counsel.