Short-form amalgamation

An amalgamation between certain affiliated corporations that requires only the approval of the directors. A short-form vertical amalgamation may be effected between a corporation and one or more subsidiaries that are either wholly owned by the corporation or where the only shares not held by the corporation are owned by one or more of the other amalgamating subsidiaries. Similarly, a short-form horizontal amalgamation may be effected between subsidiaries that are either wholly owned or where any shares not held by the parent corporation are held by one of the other amalgamating subsidiaries.