Thank you, Mr. Chair. I have a motion. I move that Clause 13 of Bill 64 be amended by renumbering proposed subsections 13(3) and (4) as 13(7) and (8) respectively, and adding the following before those renumbered sections:
Notice of delay
(4) If the directors delay the redemption or payment under subsection (2), the member affected must be notified of the reason for the delay no later than 30 days after the time for redemption where payment has elapsed.
Continuing notice
(5) If the redemption of payment continues to be delayed, the member must be notified each six months of the reason for the continuing delay.
Payment when possible
(6) When the directors determine that the circumstances giving rise to the delay under subsection (2) no longer apply, the amounts owing to the member must be paid within 30 days after that determination.
Thank you.