Filed Under: Corporate and Commercial Law
1 definition found for this term.
Definitions are presented in the order source books were published (most recent first).
A provision in a corporation’s articles that was intended to represent the issue price of the shares. In many circumstances, however, shares were issued at prices above the par value. Par value has been abolished under the CBCA and statutes modelled after it. Par value may still be used in corporations incorporated under some other Canadian statutes, including the BCBCA. See CBCA, s. 24(2)