Ontario Barrister and Solicitor Practice Exam

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Is an application for continuance required to be authorized by an ordinary resolution of shareholders under the OBCA?

Yes, always
No, never
Only for specific cases
Depends on the bylaws of the corporation

The correct answer is: No, never

B No, never While an ordinary resolution of shareholders may be needed for certain actions, it is not legally required for an application for continuance under the OBCA. The bylaws of the corporation may outline the process for making such an application, but it does not have to be authorized by a resolution of the shareholders. Therefore, options A, C, and D are incorrect.