Section 85 — Canada Business Corporations Act: List of security holders

A holder of debt obligations issued under a trust indenture may, on payment to the trustee of a reasonable fee, require the trustee to furnish, within fifteen days after delivering to the trustee the statutory declaration referred to in subsection (4), a list setting out the names and addresses of the registered holders of the outstanding debt obligations, the principal amount of outstanding debt obligations owned by each such holder, and the aggregate principal amount of debt obligations outstanding as shown on the records maintained by the trustee on the day that the statutory declaration is delivered to that trustee. On the demand of a trustee, the issuer of debt obligations shall furnish the trustee with the information required to enable the trustee to comply with subsection (1). If the person requiring the trustee to furnish a list under subsection (1) is a body corporate, the statutory declaration required under that subsection shall be made by a director or officer of the body corporate. The statutory declaration required under subsection (1) shall state the name and address of the person requiring the trustee to furnish the list and, if the person is a body corporate, the address for service thereof; and that the list will not be used except as permitted under subsection (5). A list obtained under this section shall not be used by any person except in connection with an effort to influence the voting of the holders of debt obligations; an offer to acquire debt obligations; or any other matter relating to the debt obligations or the affairs of the issuer or guarantor thereof. A person who, without reasonable cause, contravenes subsection (5) is guilty of an offence and liable on summary conviction to a fine not exceeding five thousand dollars or to imprisonment for a term not exceeding six months or to both.