Section 185 — Canada Business Corporations Act: Sending of articles

Subject to subsection 183(6), after an amalgamation has been adopted under section 183 or approved under section 184, articles of amalgamation in the form that the Director fixes shall be sent to the Director together with the documents required by sections 19 and 106. The articles of amalgamation shall have attached thereto a statutory declaration of a director or an officer of each amalgamating corporation that establishes to the satisfaction of the Director that there are reasonable grounds for believing that each amalgamating corporation is and the amalgamated corporation will be able to pay its liabilities as they become due, and the realizable value of the amalgamated corporation’s assets will not be less than the aggregate of its liabilities and stated capital of all classes; and there are reasonable grounds for believing that no creditor will be prejudiced by the amalgamation, or adequate notice has been given to all known creditors of the amalgamating corporations and no creditor objects to the amalgamation otherwise than on grounds that are frivolous or vexatious. For the purposes of subsection (2), adequate notice is given if a notice in writing is sent to each known creditor having a claim against the corporation that exceeds one thousand dollars; a notice is published once in a newspaper published or distributed in the place where the corporation has its registered office and reasonable notice thereof is given in each province where the corporation carries on business; and each notice states that the corporation intends to amalgamate with one or more specified corporations in accordance with this Act and that a creditor of the corporation may object to the amalgamation within thirty days from the date of the notice. On receipt of articles of amalgamation, the Director shall issue a certificate of amalgamation in accordance with section 262.