Section 206.1 — Canada Business Corporations Act: Obligation to acquire shares

If a shareholder holding shares of a distributing corporation does not receive an offeror’s notice under subsection 206(3), the shareholder may within ninety days after the date of termination of the take-over bid, or if the shareholder did not receive an offer pursuant to the take-over bid, within ninety days after the later of the date of termination of the take-over bid, and the date on which the shareholder learned of the take-over bid, require the offeror to acquire those shares. If a shareholder requires the offeror to acquire shares under subsection (1), the offeror shall acquire the shares on the same terms under which the offeror acquired or will acquire the shares of the offerees who accepted the take-over bid.