Therefore, Her Excellency the Governor General in Council, on the recommendation of the President of the Queen’s Privy Council, pursuant to subsection 101(4)Footnote of the Financial Administration Act, is pleased hereby to authorize Air Canada to apply for articles of amendment to amend its articles of incorporation to divide the presently issued and outstanding 329,009 common shares of the share capital of Air Canada on the basis of 125 common shares for 1 common share, so that there will be issued and outstanding 41,126,125 common ...[+++]shares.

(h) the cost to the taxpayer of any common shares of any class of the capital stock of the corporation receivable by the taxpayer as consideration for the disposition shall be deemed to be that proportion of the amount, if any, by which the proceeds of the disposition exceed the total of the fair market value, at the time of the disposition, of the consideration (other than shares of the capital stock of the corporation or a right to receive any such shares) received by the taxpayer for the disposition and the cost to the taxpayer of all preferred shares of the capital stock of the corporation receivable by the taxpayer as consideration ...[+++]for the disposition, that

Member States shall, in appropriate cases, require institutions tomaintain at all times sufficient authorised share capital so that, in the event that the resolution authority exercised the powers referred to inpoints (f), (g) and (h) of Article (1) in relation to an institution or its subsidiaries, the institution is not be prevented from issuing sufficient new shares or instruments of ownership to ensure that the conversion of liabilities into ordinary shares or other instruments of ownership could be carried out effectively.

Member States shall require institutions to ensure that there are no procedural impediments to the conversion of liabilities to ordinary shares or other instruments of ownership existing by virtue of their instruments of incorporation or statutes, including pre-emption rights for shareholders or requirements for the consent of shareholders to an increase in capital.

Original own funds referred to in Article 57(a) of Directive 2006/48/EC should include all instruments that are regarded under national law as equity capital, rank pari passu with ordinary shares during liquidation and fully absorb losses on a going-concern basis pari passu with ordinary shares.

Original own funds referred to in Article 57(a) of Directive 2006/48/EC should also include any other instrument under a credit institution’s statutory terms taking into account the specific constitution of mutuals, cooperative societies and similar institutions and which are deemed equivalent to ordinary shares in terms of their capital qualities in particular as regards loss absorption.