Final answer:
A short form amalgamation under the OBCA is allowed when a parent corporation amalgamates with its subsidiary, with specific conditions such as owning 90% of the voting shares for section 183 or a fully owned subsidiary for section 184, allowing for a simpler and faster process without requiring shareholders' approval.
Step-by-step explanation:
A short form amalgamation is permitted under the Ontario Business Corporations Act (OBCA) when certain conditions are met. Specifically, this type of amalgamation is available to subsidiary corporations that are merged with their parent company. According to the OBCA, a short form amalgamation can be performed under section 183 when one company owns at least 90% of the voting shares of the other(s), or under section 184 when the amalgamation is between a holding corporation and one or more of its wholly-owned subsidiaries.
There are several advantages to a short form amalgamation, including simplified procedural requirements compared to a long form amalgamation. The process does not require the approval of shareholders and can be completed more quickly and efficiently. However, it's important to ensure that all legal requirements are met and proper documentation is filed accordingly. Additionally, the articles of amalgamation must be submitted to the appropriate government body to formalize the corporate restructuring.