SUPREME COURT OF NOVA SCOTIA
Citation: Columbia North Realty Company, Re, 2005 NSSC 212
Date: 20050714
Docket: S.H. 250793
Registry: Halifax
IN THE MATTER OF: The Companies Act of Nova Scotia, being Chapter 81 of the Revised Statutes of Nova Scotia, 1989 and amendments thereto
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IN THE MATTER OF: The application of Columbia North Realty Company for an Order of rectification pursuant to subsection 44(2) of the Companies Act and the inherent equitable jurisdiction of this Honourable Court
LIBRARY HEADING
Judge: The Honourable Justice C. Richard Coughlan
Heard: July 14, 2005 (in Chambers), at Halifax, Nova Scotia
Decision: July 14, 2005 (Orally)
Written Release: July 28, 2005
Subject: Company Law - Application for Rectification of Articles of Association, Share Register and other actions of the Company affecting prior year’s Income Tax - Notice Required
Practice - Applications and Motions - Application for Rectification of Articles of Association, Share Register and other actions of the Company affecting prior year’s Income Tax - Notice required
Summary: A company applied to rectify its Articles of Association, Share Register and other actions of the Company retroactively, which would reduce the income tax payable by the company in prior years.
Issue: Should notice be given to Canada Revenue Agency or Minister of National Revenue?
Result: An order of a superior court retroactively rectifying actions of a company binds all, including the Minister of National Revenue, unless the order is appealed. Where an order is sought which would affect the income tax payable in prior years, notice should be given to the Minister of National Revenue or Canada Revenue Agency of the application so that the Agency or the Minister may make submissions to the court.
THIS INFORMATION SHEET DOES NOT FORM PART OF THE COURT'S DECISION. QUOTES MUST BE FROM THE DECISION, NOT THIS LIBRARY SHEET.