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(e) the directors of the amalgamating corporations constitute the first directors of the

amalgamated corporation;

(f) the proposed by-laws and rules mentioned in clause 120 (3) (b) shall be the by-laws

and rules respectively of the amalgamated corporation until the corporation amends or

replaces them;

(g) the amalgamated corporation possesses all the assets, rights and privileges and is

subject to all liabilities, including civil, criminal and quasi-criminal, and all contracts,

agreements, warranties and debts of each of the amalgamating corporations;

(h) a conviction against, or ruling, order or judgment in favour of or against an

amalgamating corporation may be enforced by or against the amalgamated

corporation; and

(i) the amalgamated corporation shall be deemed to be the party plaintiff or the party

defendant, as the case may be, in all civil actions commenced by or against an

amalgamating corporation before the amalgamation becomes effective. 1998, c. 19,

s. 121 (1).

First auditors

(2)

Immediately following the registration of a declaration and description for an

amalgamated corporation, the directors shall appoint one or more auditors who shall hold office

until the close of the meeting of owners described in subsection (3). 1998, c. 19, s. 121 (2).

Subsequent directors

(3)

The first directors of an amalgamated corporation shall hold office until the owners

elect their successors at a meeting which the first directors shall call and hold within 60 days

following the registration of the declaration and description for the corporation. 1998, c. 19,

s. 121 (3).

Subsequent auditors

(4)

At the meeting the owners shall, subject to section 60 with necessary modifications,

appoint successors for the auditors mentioned in subsection (2). 1998, c. 19, s. 121 (4).

PART VIII

TERMINATION

Termination with consent

122. (1)

A corporation shall register a notice terminating the government of the property

by this Act if,

(a) the owners of at least 80 per cent of the units, at the date of the vote, vote in favour of

termination; and

(b) at least 80 per cent of those persons who, at the date of the vote, have registered claims

against the property, that were created after the registration of the declaration and

description that made this Act applicable to the property, consent in writing to the

termination. 1998, c. 19, s. 122 (1).

Notice of termination

(2)

The notice of termination shall be in the form prescribed by the Minister, shall be