Ontario Barrister and Solicitor Practice Exam

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What is not a component of a corporate arrangement pursuant to the OBCA?

  1. An automatic dissent right for shareholders

  2. Approval by a majority of shareholders

  3. Judicial approval

  4. Fairness assessment

The correct answer is: An automatic dissent right for shareholders

A component of a corporate arrangement pursuant to the OBCA is any action taken by a corporation that affects the rights, privileges, or conditions of its shareholders. Options B, C, and D all pertain to shareholder approval and consideration in corporate arrangements, but option A is incorrect because it contradicts the definition - there is no automatic dissent right for shareholders under the OBCA.

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