RECO / TRESA · Share ownership
Non-voting shares carry a right to convert into voting shares
What the check looks for
A conversion right can silently turn a permitted non-voting share into a voting share and end eligibility.
Authority: TRESA s. 1(1) ("equity share")
What goes wrong
The articles do not address this. Whether the condition is met then rests on conduct alone, with nothing in the articles to prevent a breach. Adding the wording is recommended drafting practice.
What good looks like
The articles contain a provision to this effect.
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