You miss the whole point and legal basis. The policy cannot be an instrument in force if it requires shareholders approval. The practise of such an instrument in the manner of which it was used and conveyed, created a desired biased outcome, which in this case, again is undemocratic in more ways than one. I see no Provincial nor Federal legislation, neither do I see any founding legislation or provision for such an instrument within Securities acts that grants this effectiveness before approval. This is a prime example where rules are changed at will and not enforced, which is contradictory to public interest .