British Columbia Bill 60 (Government) — 4th Parliament, 37th Session — Previous Version 1
4-37 Gov Bill 60-1
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2003 Legislative Session: 4th Session, 37th Parliament
FIRST READING
The following electronic version is for informational
purposes only.
The printed version remains the official version.
HONOURABLE GARY COLLINS
MINISTER OF FINANCE
BILL 60 – 2003
BUSINESS CORPORATIONS AMENDMENT ACT, 2003 continued
Explanatory Notes
SECTION 1: [Business Corporations Act, amends
section 1] removes unnecessary
wording.
SECTION 2: [Business Corporations Act, amends
section 4 (1)] applies specified provisions
of the Business Corporations Act to corporations to which the Company
Clauses Act applied before its repeal under this Bill.
SECTION 3: [Business Corporations Act, amends
section 6 (2)] clarifies that correct
mailing for the purposes of the Business Corporations Act includes addressing
the mail to the intended recipient.
SECTION 4: [Business Corporations Act, amends
section 7] clarifies that correct mailing
for the purposes of the Business Corporations Act includes addressing the mail
to the intended recipient and removes a reference to fax to make this provision
consistent with the other provisions in Division 3 of
part 1 of the Act.
SECTION 5: [Business Corporations Act, amends
section 8] clarifies that correct mailing
for the purposes of the Business Corporations Act includes addressing the mail
to the intended recipient, corrects a punctuation error and clarifies wording
respecting the mailing address of the head office of an extraprovincial
company.
SECTION 6: [Business Corporations Act, amends various sections] provides for the registrar,
rather than Cabinet, to determine what forms will be acceptable for
registry purposes.
SECTION 7: [Business Corporations Act, amends
section 11 (h)] requires inclusion in
notices of articles of the date of any court order that alters special rights or
restrictions applicable to shares.
SECTION 8: [Business Corporations Act, adds
section 12 (6)] clarifies that a change to a
company's articles that correctly reflects the requirements of the Act does not
constitute a default under a security agreement of the company.
SECTION 9: [Business Corporations Act, amends
section 17] clarifies the wording
respecting the effect of incorporation to tie incorporation to the time, rather
than the date, of incorporation, and to better apply the defined terms used in the
provision.
SECTION 10: [Business Corporations Act, amends sections 18, 268 (2), 282 (3), 305 (2),
364 (1) and 365 (1)] removes reference to "under this Act" to allow the
amended provisions to refer to companies incorporated under previous
Company Acts.
SECTION 11: [Business Corporations Act, adds
section 22 (5)] makes express the discretion
of the registrar to disapprove of a corporate name.
SECTION 12: [Business Corporations Act, repeals and replaces
section 25 (3)] recognizes
the possibility that a translation of name may be set out in a pre-existing
company's memorandum.
SECTION 13: [Business Corporations Act, repeals and replaces
section 39 (7)] gives effect
to a change of registered office address on the day following the filing of an
application for the change rather than 10 days after the filing of that application
and removes unnecessary reference to the court's ability to make a contrary
order.
SECTION 14: [Business Corporations Act, amends
section 40] provides that court orders
that eliminate registered offices take effect on the day after the notice of elimination
is filed and removes the possibility for courts to order that that elimination
could occur at some later date.
SECTION 15: [Business Corporations Act, amends
section 42] adds a
section reference and
corrects a punctuation error.
SECTION 16: [Business Corporations Act, amends sections 47 (2) (
d) and 49 (3) (d)] allows
use of a securities register or shareholder's list to call a meeting to fill a
vacancy in the office of a liquidator.
SECTION 17: [Business Corporations Act, amends
section 54] allows for the alteration of
the identifying name of any shares and provides that a company may change
its authorized share structure by any resolution it sets out in its articles instead
of limiting those articles only to a shareholders' resolution for that purpose.
SECTION 18: [Business Corporations Act, amends
section 57 (1) (a)] requires that a share
certificate of a company reference the Business Corporations Act instead of the
Company Act .
SECTION 19: [Business Corporations Act, amends sections 58 (2) and 80 (2) (d)] removes
unnecessary wording.
SECTION 20: [Business Corporations Act, amends
section 59 (4)] makes the language in
this subsection consistent with the language used elsewhere in the Act.
SECTION 21: [Business Corporations Act, amends
section 60 (4)] makes the language in
this subsection consistent with the language used elsewhere in the Act.
SECTION 22: [Business Corporations Act, repeals and replaces
section 63 (2)] removes an
unnecessary reference to value.
SECTION 23: [Business Corporations Act, amends
section 70 (1)] expressly authorizes
companies to declare dividends.
SECTION 24: [Business Corporations Act, re-enacts
section 72] refocuses the
section from
what is capital to what is added to capital on the issue of shares.
SECTION 25: [Business Corporations Act, amends
section 73] clarifies that the capital
attributable to shares that are issued under a conversion or exchange in an
amalgamation is the same as the capital of the shares that were converted or
exchanged.
SECTION 26: [Business Corporations Act, amends
section 77] allows a company to acquire
its own shares, other than by purchase or redemption, if and to the extent
provided for in its articles.
SECTION 27: [Business Corporations Act, adds
section 111 (9)] prevents a company from
closing its central securities register.
SECTION 28: [Business Corporations Act, amends
section 113] makes the language in this
subsection consistent with the language used elsewhere in the Act.
SECTION 29: [Business Corporations Act, amends
section 114] clarifies that no instrument
of transfer is required when a company acquires shares by redemption, dissent
proceedings or compulsory acquisition in accordance with the Act.
SECTION 30: [Business Corporations Act, amends
section 117] makes the language in this
subsection consistent with the language used elsewhere in the Act.
SECTION 31: [Business Corporations Act, amends
section 121 (2) (b)] includes within the
category of directors who do not need to provide a consent to be a director,
those directors of an amalgamated company referred to in
section 273 or 274
who were directors of a specified amalgamating corporation.
SECTION 32: [Business Corporations Act, amends
section 123 (1)] clarifies that for
directors who are required to provide a consent to act, that consent can be
provided at any time.
SECTION 33: [Business Corporations Act, repeals and replaces
section 129 (4) (a) (ii)]
includes within the class of persons who may apply to the court for an order
that they are not directors, those persons who were never designated, elected
or appointed as a director.
SECTION 34: [Business Corporations Act, amends
section 132 (2) (b)] provides that where
a vacancy occurs amongst directors appointed by a certain class or series of
shareholders with the result that no such directors remain, the other directors
must call a meeting of those shareholders unless those shareholders unanimously
appoint a replacement director.
SECTION 35: [Business Corporations Act, amends
section 134] provides more clarity to the
wording respecting how directors' vacancies may be filled.
SECTION 36: [Business Corporations Act, repeals and replaces
section 135 (1) (a) (i)]
tracks the preceding wording of the
section for clarity.
SECTION 37: [Business Corporations Act, amends
section 137] specifies the content of the
provisions in the articles by which powers of the directors may be transferred,
and clarifies where those powers are transferred to shareholders, those shareholders
are not restricted from fettering their discretion in relation to the
exercise of those powers.
SECTION 38: [Business Corporations Act, amends
section 138 (2) (d)] extends to all creditors,
rather than just to secured creditors, the protection offered by
section 138 (2) (
d) of the Business Corporations Act that such a creditor is not,
simply by becoming involved in the management of the company, deemed to
be one of its directors.
SECTION 39: [Business Corporations Act, amends
section 147 (2) (a)] clarifies that a
director is not required to disclose an interest in a contract or transaction if none
of the Company Acts that applied at the time of, or following, the acquisition
of that interest required that disclosure.
SECTION 40: [Business Corporations Act, amends
section 157] removes a provision that
would have avoided liability for directors who act in compliance with a
requirement in the articles.
SECTION 41: [Business Corporations Act, repeals and replaces
section 166 (b)] provides
that general meetings of shareholders may not be held outside British
Columbia unless such an extra-provincial meeting is authorized under and in
accordance with the articles.
SECTION 42: [Business Corporations Act, amends
section 167] clarifies the type of notice
required for a general meeting held under
section 167 (8) of the Business
Corporations Act and clarifies
section references.
SECTION 43: [Business Corporations Act, amends
section 182 (4)] more clearly identifies
the company that may apply to the registrar under
section 182 (4) of the Act.
SECTION 44: [Business Corporations Act, amends
section 187] allows registered shareholders
to be considered to be qualified shareholders for the purposes of
Division 7 of
Part 5.
SECTION 45: [Business Corporations Act, amends
section 188] harmonizes the language of
the provision with the fact that registered owners of shares can be considered
as qualified shareholders as a result of the amendment made by this Bill,
reduces the period before a meeting that a proposal must be received by the
company in order for the proposal to be effective from 4 months to 3 months
and clarifies that the signatures and declarations to the proposal are not to be
counted as part of the maximum word length of the proposal.
SECTION 46: [Business Corporations Act, amends
section 189 (5) (b)] removes from a
company the obligation to process a proposal that exceeds the maximum word
length.
SECTION 47: [Business Corporations Act, repeals and replaces
section 194 (3)] includes a
company's non-transferable written acknowledgement as evidence of share
ownership in that company.
SECTION 48: [Business Corporations Act, repeals and replaces
section 195 (8) (a)] clarifies
the intent of the paragraph.
SECTION 49: [Business Corporations Act, amends
section 227 (3) (l)] corrects a punctuation
error.
SECTION 50: [Business Corporations Act, amends
section 239] clarifies the status of the
referenced shareholder as both a registered owner and a beneficial owner and
avoids referencing a specified shareholder where none has been identified.
SECTION 51: [Business Corporations Act, amends
section 240 (3)] provides that no notice
of a resolution need be given to a shareholder who has voted in favour of the
resolution.
SECTION 52: [Business Corporations Act, amends
section 242] gives to statements sent
under
section 240 (3) (
b) the same effect as applies to statements sent under
section 240 (2) (b).
SECTION 53: [Business Corporations Act, amends
section 243 (2)] clarifies which of the
two notices mentioned in
section 243 (1) of the Business Corporations Act is
referred to in
section 243 (2).
SECTION 54: [Business Corporations Act, repeals and replaces
section 245 (4)] clarifies
that a dissenter who receives notice that the company cannot lawfully pay
dissenters for their shares remains a claimant of the company unless the
dissenter withdraws the notice of dissent.
SECTION 55: [Business Corporations Act, repeals and replaces
section 256 (2) (c)] clarifies
that a pre-existing company may make changes to its articles that correctly
reflects the requirements of the Act.
SECTION 56: [Business Corporations Act, amends
section 257 (3)] allows a company to
alter its notice of articles, without an authorizing resolution, to reflect an
amendment to its articles that was made by a court order.
SECTION 57: [Business Corporations Act, amends
section 259 (4)] clarifies that a company
must alter its notice of articles if special rights or restrictions attached to shares
are altered.
SECTION 58: [Business Corporations Act, amends sections 271 (3) (
c) and 290 (1) (b) (ii)]
makes the language in these subsections consistent with the language used
elsewhere in the Act.
SECTION 59: [Business Corporations Act, repeals and replaces
section 274 (c)] clarifies the
wording of the paragraph.
SECTION 60: [Business Corporations Act, amends
section 275]
clarifies that the registrar may require certain documents to be filed
and others to simply be provided;
harmonizes the language of
section 275 with
section 277;
provides for the registrar, rather than Cabinet, to determine what forms
will be acceptable for registry purposes in relation to short-form amalgamations.
SECTION 61: [Business Corporations Act, adds
section 278 (3.1)] clarifies that the
procedure for getting an order under
section 278 (3) (
b) is not the same as the
procedure applicable to obtaining a court order to approve an amalgamation.
SECTION 62: [Business Corporations Act, amends
section 285] clarifies which jurisdiction's
laws must accord with
section 285 of the Business Corporations Act in
order for an amalgamation between a company and a foreign corporation to be
authorized.
SECTION 63: [Business Corporations Act, amends sections 286 (3) and 311 (3)] ties the
application of sections 286 and 311 to the amalgamation and continuation
respectively, rather than to the date of the amalgamation or continuation.
SECTION 64: [Business Corporations Act, repeals and replaces
section 289 (1) (a)] harmonizes
the wording of
section 289 (1) (
a) of the Business Corporations Act with
section 284 (4) of that Act.
SECTION 65: [Business Corporations Act, amends
section 291 (5) (a)] harmonizes the
wording of
section 291 (5) (
a) of the Business Corporations Act with the
amendments to sections 292 to 299 of that Act as enacted by this Bill.
SECTION 66: [Business Corporations Act, re-enacts sections 292 to 299] simplifies the
arrangement filing procedure, removes the possibility of filing arrangement
materials that would take effect at a future date, ensures consistent application
of the Act to corporate activities whether those activities are effected under an
arrangement or not and clarifies when and how an arrangement may be abandoned.
SECTION 67: [Business Corporations Act, repeals and replaces
section 302 (1) (b)] clarifies
that the registrar may require certain documents to be filed and others to simply
be provided.
SECTION 68: [Business Corporations Act, amends
section 312] sets the commencement of
a voluntary liquidation at the date on which the special resolution is passed to
authorize the liquidation rather than the date on which a statement of intent to
liquidate is filed.
SECTION 69: [Business Corporations Act, adds
section 321 (2) (a.1)] requires that the
statement of intent to liquidate filed in relation to a voluntary liquidation states
the date on which the special resolution authorizing the liquidation was passed.
SECTION 70: [Business Corporations Act, amends
section 324 (3)] makes it express that the
court can make an order under
section 324 (3) of the Business Corporations Act
if the court considers the applicant to be entitled to an order for liquidation and
dissolution.
SECTION 71: [Business Corporations Act, amends
section 330] requires, in respect of a
company in liquidation, that notice be given to the registrar of any change in
the location of the company's records and clarifies when a liquidation report is
to be filed.
SECTION 72: [Business Corporations Act, amends
section 334 (1) (c)] expressly authorizes
the liquidator of a company to change one or both of the registered office and
records office of the company.
SECTION 73: [Business Corporations Act, amends
section 349 (1)] corrects a punctuation
error.
SECTION 74: [Business Corporations Act, repeals and replaces
section 351 (3)] requires
that filings necessary under
section 351 (3) be made promptly, requires that
notice of change of location of a dissolved company's records be filed whether
or not there was an initial filing respecting the location of those records and
reflects that records to be filed with the registrar must be in the form approved
by the registrar rather than by Cabinet.
SECTION 75: [Business Corporations Act, amends
section 354 (2)] allows the court to order
that a person is a "related person" for the purposes of Division 11 of
Part 10 of
the Act.
SECTION 76: [Business Corporations Act, amends
section 355] clarifies that a restoration
application can be made no matter why a company was dissolved or the registration
of an extraprovincial company was cancelled, and provides that notice
of a restoration application must be provided to an extraprovincial company
that has no attorney by sending the notice to the extraprovincial company's
head office in British Columbia.
SECTION 77: [Business Corporations Act, amends
section 357 (1) (b)] makes the language
section 357 (1) (
b) of the Business Corporations Act consistent with the
language used elsewhere in that Act.
SECTION 78: [Business Corporations Act, amends
section 362 (2)] adds specificity to the
section cross-references found in
section 362 (2) of the Act.
SECTION 79: [Business Corporations Act, amends
section 364] clarifies that the Statutory
Reporting Company Provisions apply to a company that was a reporting
company immediately before its dissolution, removes unnecessary words from
section 364 (4) (
b) of the Business Corporations Act and links the wording in
section 364 (4) of the Business Corporations Act relating to the continuance of
a restored company to the wording in that
section relating to the proceedings
that may be taken against a restored company.
SECTION 80: [Business Corporations Act, amends
section 367 (1)] requires that a restored
company be provided with a certified copy of the restoration application and a
certified copy of the notice of articles, if any.
SECTION 81: [Business Corporations Act, amends
section 368 (3)] clarifies that the government
need not return to a restored company money the government had paid
out under
section 349.
SECTION 82: [Business Corporations Act, amends
section 370 (1) (c) (ii)] removes from
restored pre-existing companies the necessity to include in their central securities
register, within 12 months after the date on which they are restored, information
respecting shares issued within the 6 years before the company's
dissolution.
SECTION 83: [Business Corporations Act, amends
section 371] requires that a company
that has been restored must, before filing a post-restoration transition application,
file all necessary documents to the registrar to bring the information in the
corporate registry about the company's directors up to date, and clarifies the
information that is to be included in that application form respecting directors
and the registered and records office of the company.
SECTION 84: [Business Corporations Act, amends
section 372] identifies the provisions of
the Business Corporations Act that apply to the articles of a restored company,
and allows for those articles to be changed to reflect correct information
without the necessity of resolutions authorizing those changes.
SECTION 85: [Business Corporations Act, amends
section 373 (2)] includes a change to the
articles under
section 372 (4) of the Business Corporations Act as a matter that
does not constitute a default under a security agreement or other record, and
clarifies that in order for a filing, alteration or change to avoid constituting a
contravention of or a default under a security agreement or other record, the
filing, alteration or change must be in accordance with sections 370 (1) (
a) and (
b) or 372 (4) respectively.
SECTION 86: [Business Corporations Act, amends
section 375 (6)] applies to a foreign
entity that need not be registered as an extraprovincial company the same obligation
to display its corporate name as applies to a registered extraprovincial
company.
SECTION 87: [Business Corporations Act, adds
section 376 (4)] allows the registrar to
require proof of the status of a foreign entity that is registered or is applying to
be registered as an extraprovincial company.
SECTION 88: [Business Corporations Act, amends
section 378 (1)] removes reference to
"under this Part" to allow the amended provisions to refer to extraprovincial
companies registered under previous Company Acts.
SECTION 89: [Business Corporations Act, amends
section 379] sets out the information that
is to be provided to the registrar in relation to the amalgamation of an extraprovincial
company, ensures that that notice is provided to each attorney of the
extraprovincial company and allows the registrar to require proof of the status
of an amalgamated foreign entity to which a certificate of registration is or may
be issued.
SECTION 90: [Business Corporations Act, adds
section 382 (5)] allows the registrar to
require proof of the status of a foreign entity to which a certificate of change of
name is or may be issued.
SECTION 91: [Business Corporations Act, amends
section 395 (5)] removes a potentially
limiting reference to date.
SECTION 92: [Business Corporations Act, repeals
section 405] removes the
section
granting immunity to the registrar and his or her agents, officers and
employees.
SECTION 93: [Business Corporations Act, adds
section 408 (1.1) and (1.2)] provides
express authority to the registrar to establish forms for use in the registry.
SECTION 94: [Business Corporations Act, re-enacts
section 409] clarifies
that if one future dated filing is filed with the registrar in relation to a
entity, the registrar will not accept any other filing in relation to that entity,
other than the filings specified in
section 409 of the Business Corporations
Act , until the future-dated filing takes effect or is withdrawn.
SECTION 95: [Business Corporations Act, amends
section 412 (3) (a) (ii)] simplifies
wording.
SECTION 96: [Business Corporations Act, amends
section 416] allows the registrar to
determine how searches of the registry are to be conducted.
SECTION 97: [Business Corporations Act, amends
section 417 (a)] removes the necessity
for the registrar to sign a notice that a record has been lost, mislaid or
destroyed.
SECTION 98: [Business Corporations Act, amends
section 436 (1) (c)]
removes from pre-existing companies the necessity to include in their central
securities register, within 2 years after the coming into force of the Business
Corporations Act , information respecting shares issued within the
6 years before the coming into force of that Act.
SECTION 99: [Business Corporations Act, amends
section 437] requires that a pre-existing
company must, before filing a transition application, file all necessary
documents with the registrar to bring the information in the corporate registry
about the company's directors up to date, and clarifies the information that is
to be included in that application form respecting directors and the registered
and records office of the company.
SECTION 100: [Business Corporations Act, amends
section 438] identifies the provisions of
the Business Corporations Act that apply to the articles of a pre-existing
company, and allows for those articles to be changed to reflect correct information
without the necessity of resolutions authorizing those changes.
SECTION 101: [Business Corporations Act, amends
section 439 (2)] includes a change to the
articles under
section 438 (4) of the Business Corporations Act as a matter that
does not constitute a default under a security agreement or other record, and
clarifies that in order for a filing, alteration or change to avoid constituting a
contravention of or alteration or change must be in accordance with
sections 436 (1) (
a) and (
b) or 438 (4) respectively.
SECTION 102: [Business Corporations Act, amends
section 443 (b)]
allows, in specified circumstances, for an address inside British Columbia to
be the mailing address and delivery address of an extraprovincial company on
the coming into force of the Business Corporations Act .
SECTION 103: [Business Corporations Act, amends the heading of the Schedule] corrects a
reference.
SECTION 104: [Business Corporations Act, amends the Schedule] harmonizes the wording
of the
Schedule with the Business Corporations Act as amended by this Bill.
Consequential Amendments
Agricultural Land Commission Act
SECTION 105: [Agricultural Land Commission Act, amends
section 12] is consequential to
the repeal of the Company Act and its replacement with the Business Corporations
Act, and to the repeal of the Company Clauses Act by this Bill.
Architects Act
SECTION 106: [Architects Act, amends
section 26 (2) (
a) and (3) (b)]
harmonizes the language of the Architects Act with the language of the
Business Corporations Act .
Assessment Authority Act
SECTION 107: [Assessment Authority Act, amends
section 3 (5)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
Association of Former M.L.A.s of British Columbia Act
SECTION 108: [Association of Former M.L.A.s of British Columbia Act,
amends
section 11] is consequential to the repeal of the Company
Act and its replacement with the Business Corporations Act , and to
the repeal of the Company Clauses Act by this Bill.
British Columbia Buildings Corporation Act
SECTION 109: [British Columbia Buildings Corporation Act, amends
section
19] updates the cross references to the Company Act in the British
Columbia Buildings Corporation Act with cross references to the Business
Corporations Act and is otherwise consequential to the repeal of the Company
Act and its replacement with the Business Corporations Act .
British Columbia Enterprise Corporation Act
SECTION 110: [British Columbia Enterprise Corporation Act, amends
section
2 (6)] is consequential to the repeal of the Company Act and
its replacement with the Business Corporations Act .
SECTION 111: [British Columbia Enterprise Corporation Act, amends
section 4] is consequential
to the repeal of the Company Act and its replacement with the Business
Corporations Act and includes a "notice of articles" within the charter
documents over which the British Columbia Enterprise Corporation Act and
its regulations take priority in the event of a conflict.
British Columbia Transit Act
SECTION 112: [British Columbia Transit Act, amends
section 2 (2)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
British Columbia Wine Act
SECTION 113: [British Columbia Wine Act, amends
section 6] substitutes the new auditor
qualification provisions of the Business Corporations Act for the Company Act
auditor qualification provisions.
Build BC Act
SECTION 114: [Build BC Act, amends
section 26] is consequential to the repeal of the
Company Act and its replacement with the Business Corporations Act, and to
the repeal of the Company Clauses Act by this Bill.
Building Officials' Association Act
SECTION 115: [Building Officials' Association Act, amends
section 2]
updates the cross references to the Company Act in the Building Officials'
Association Act with cross references to the Business Corporations Act
and is otherwise consequential to the repeal of the Company Act and its
replacement with the Business Corporations Act .
Cemetery and Funeral Services Act
SECTION 116: [Cemetery and Funeral Services Act, amends
section 1 (1)] applies a broader
definition of "company" to the Cemetery and Funeral Services Act to include
all companies recognized under the Business Corporations Act as that term is
defined in that Act.
Chiropractors Act
SECTION 117: [Chiropractors Act, amends
section 12 (1)] applies a broader definition of
"company" to the Chiropractors Act to include all companies recognized under
the Business Corporations Act as that term is defined in that Act.
Columbia Basin Trust Act
SECTION 118: [Columbia Basin Trust Act, amends
section 16] is
consequential to the repeal of the Company Act and its replacement with
the Business Corporations Act .
SECTION 119: [Columbia Basin Trust Act, amends
section 29] adopts
the new indemnification provisions of the Business Corporations Act and
is otherwise consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
SECTION 120: [Columbia Basin Trust Act, amends
section 31 (4)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
Commercial Transport Act
SECTION 121: [Commercial Transport Act, amends
section 6 (6) (b)]
harmonizes the language of the Commercial Transport Act with the language
of the Business Corporations Act .
Community Care and Assisted Living Act
SECTION 122: [Community Care and Assisted Living Act, repeals and replaces
section 13 (3)] harmonizes the language of the Community Care and
Assisted Living Act with the language of the Business Corporations Act .
Community Financial Services Act
SECTION 123: [Community Financial Services Act, amends
section 1]
continues the application of the Company Act to the Community Financial
Services Act despite the repeal of the Company Act .
SECTION 124: [Community Financial Services Act, amends
section 33] is consequential to
the repeal of the Company Act and its replacement with the Business Corporations
Act, and to the repeal of the Company Clauses Act by this Bill.
Community Services Interim Authorities Act
SECTION 125: [Community Services Interim Authorities Act, amends
section
14] is consequential to the repeal of the Company Act and its
replacement with the Business Corporations Act , and to the repeal of
the Company Clauses Act by this Bill.
Company Act
SECTION 126: [Company Act, repeals the Supplement] is self explanatory.
Company Clauses Act
SECTIONS 127 AND 128: [Company Clauses Act, repeals the Act and the Supplement]
are self explanatory.
Constitution Act
SECTION 129: [Constitution Act, amends
section 25 (b) (i)] is
consequential to the repeal of the Company Act and its replacement with
the Business Corporations Act .
Cooperative Association Act
SECTION 130: [Cooperative Association Act, amends
section 1]
continues the application of the Company Act to the Cooperative Association
Act despite the repeal of the Company Act .
SECTION 131: [Cooperative Association Act, adds
section 7 (3)] expressly provides that the
Business Corporations Act does not apply to associations or extraprovincial
associations.
SECTION 132: [Cooperative Association Act, amends
section 222] repeals a not in force
provision.
Corporation Capital Tax Act
SECTION 133: [Corporation Capital Tax Act, amends
section 18 (3) (b)]
harmonizes the language of the Corporation Capital Tax Act with the language
of the Business Corporations Act .
Credit Union Incorporation Act
SECTION 134: [Credit Union Incorporation Act, amends
section 1]
continues the application of the Company Act to the Credit Union Incorporation
Act despite the repeal of the Company Act .
SECTION 135: [Credit Union Incorporation Act, amends
section 2] provides that the
Business Corporations Act does not apply to a credit union.
Crown Franchise Act
SECTION 136: [Crown Franchise Act, amends
section 5 (d)] harmonizes
the language of the Crown Franchise Act with the language of the Business
Corporations Act .
Election Act
SECTION 137: [Election Act, amends
section 179 (3)] substitutes the new auditor qualification
provisions of the Business Corporations Act for the Company Act auditor
qualification provisions.
Emergency Communications Corporations Act
SECTION 138: [Emergency Communications Corporations Act, amends
section 1] applies a
broader definition of "company" to the Emergency Communications Corporations
Act to include all companies recognized under the Business Corporations
Act as that term is defined in that Act.
SECTION 139: [Emergency Communications Corporations Act, amends
section
5] updates the cross references to the Company Act in the Emergency
Communications Corporations Act with cross references to the Business
Corporations Act , includes notices of articles of emergency communications
corporations as records that may be amended only with the approval of the minister
and is otherwise consequential to the repeal of the Company Act and its
replacement with the Business Corporations Act .
SECTION 140: [Emergency Communications Corporations Act, amends
section
13] includes a "notice of articles" within the charter documents over
which the Emergency Communications Corporations Act and its regulations
take priority in the event of a conflict and is otherwise consequential to the
repeal of the Company Act and its replacement with the Business Corporations
Act .
Employee Investment Act
SECTION 141: [Employee Investment Act, amends
section 1 (1)]
harmonizes the language of the Employee Investment Act with the language
of the Business Corporations Act .
SECTION 142: [Employee Investment Act, amends
section 3 (a)]
harmonizes the language of the Employee Investment Act with the language
of the Business Corporations Act .
SECTION 143: [Employee Investment Act, amends
section 4 (1) (d) (iv)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
SECTION 144: [Employee Investment Act, amends
section 9] updates
the cross references to the Company Act in the Employee Investment
Act with cross references to the Business Corporations Act and harmonizes
the language of the Employee Investment Act with the language of the
Business Corporations Act .
SECTION 145: [Employee Investment Act, amends
section 25] recognizes the ability
provided under the Business Corporations Act to issue fractional shares.
SECTION 146: [Employee Investment Act, repeals and replaces
section 26
(5) (b)] harmonizes the language of the Employee Investment Act
with the language of the Business Corporations Act and updates the cross
references to the Company Act in the Employee Investment Act with
cross references to the Business Corporations Act .
Escheat Act
SECTION 147: [Escheat Act, amends
section 4] recognizes that
a corporation's revival may occur without court order under the Business
Corporations Act , and provides for the court to make an order that escheated
land be returned to a revived corporation on an application made before, on
or after that revival.
Estate Administration Act
SECTION 148: [Estate Administration Act, amends
section 96 (1)] harmonizes the language
of the Estate Administration Act with the language of the Business Corporations
Act and expands the range of corporate documents that can apply to
determine what is a spousal home.
Family Maintenance Enforcement Act
SECTION 149: [Family Maintenance Enforcement Act, amends
section 14.1
(1)] is consequential to the repeal of the Company Act and its
replacement with the Business Corporations Act .
SECTION 150: [Family Maintenance Enforcement Act, amends
section 14.2
(1)] is consequential to the repeal of the Company Act and its
replacement with the Business Corporations Act .
Financial Disclosure Act
SECTION 151: [Financial Disclosure Act, amends
section 5 (1) (c)]
updates the cross references to the Company Act in the Financial Disclosure
Act with cross references to the Business Corporations Act .
Financial Institutions Act
SECTION 152: [Financial Institutions Act, amends
section 1] continues the application of the
Company Act to the Financial Institutions Act despite the repeal of the
Company Act and requires corporations incorporated under the Business
Corporations Act to convert under the Financial Institutions Act in order to be
or become an insurance company under that Act.
SECTION 153: [Financial Institutions Act, amends
section 2] makes
the Business Corporations Act inapplicable to financial institutions
or extraprovincial companies.
SECTION 154: [Financial Institutions Act, amends
section 6] applies a Part of the Company
Act applicable to extraprovincial companies to extraprovincial societies having
a business authorization.
SECTION 155: [Financial Institutions Act, amends
section 245 (1) (j)
(ii)] provides the superintendent with the power to require a financial
institution's assets to be held for a receiver or other authorized person appointed
under the Business Corporations Act .
SECTION 156: [Financial Institutions Act, adds
section 273 (3)] expressly provides that the
Business Corporations Act does not apply to deposit insurance corporations.
First Peoples' Heritage, Language and Culture Act
SECTION 157: [First People's Heritage, Language and Culture Act, amends
section 13] is consequential to the repeal of the Company Act
and its replacement with the Business Corporations Act , and to the repeal
of the Company Clauses Act by this Bill.
Forensic Psychiatry Act
SECTION 158: [Forensic Psychiatry Act, amends
section 8] is consequential
to the repeal of the Company Act and its replacement with the Business
Corporations Act .
Forest Act
SECTION 159: [Forest Act, amends
section 140 (1) (b)] adopts
the new service provisions of the Business Corporations Act and harmonizes
the language of the Forest Act with the language of the Business Corporations
Act .
SECTION 160: [Forest Act, amends
section 164 (2) (a)] is consequential
to the repeal of the Company Act and its replacement with the Business
Corporations Act .
Forest and Range Practices Act
SECTION 161: [Forest and Range Practices Act, amends
section 110 (1)
(b)] adopts the new service provisions of the Business Corporations
Act and harmonizes the language of the Forest and Range Practices Act
with the language of the Business Corporations Act .
Forest Practices Code of British Columbia Act
SECTION 162: [Forest Practices Code of British Columbia Act, amends
section
164 (1) (b)] adopts the new service provisions of the Business Corporations
Act and harmonizes the language of the Forest Practices Code of British
Columbia Act with the language of the Business Corporations Act .
Gaming Control Act
SECTION 163: [Gaming Control Act, amends
section 1 (2)] is consequential
to the repeal of the Company Act and its replacement with the Business
Corporations Act .
SECTION 164: [Gaming Control Act, amends
section 2 (4)] is consequential
to the repeal of the Company Act and its replacement with the Business
Corporations Act .
SECTION 165: [Gaming Control Act, amends
section 59] applies
a broader definition of "company" to allow for a broader range of companies
to be eligible to be registered as a gaming services provider and otherwise
harmonizes the language of the Gaming Control Act with the language of
the Business Corporations Act .
SECTION 166: [Gaming Control Act, amends
section 83 (2) (d)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
Greater Vancouver Transportation Authority Act
SECTION 167: [Greater Vancouver Transportation Authority Act, amends
section 2 (2)] is consequential to the repeal of the Company Act
and its replacement with the Business Corporations Act .
SECTION 168: [Greater Vancouver Transportation Authority Act, amends
section 9 (3) (g)] is consequential to the repeal of the Company
Act and its replacement with the Business Corporations Act .
SECTION 169: [Greater Vancouver Transportation Authority Act, amends
section 46 (2) (
a) and (3)] is consequential to the repeal of the Company
Act and its replacement with the Business Corporations Act .
SECTION 170: [Greater Vancouver Transportation Authority Act, amends
section 46 (2) (a)] is consequential to the repeal of the Company
Act and its replacement with the Business Corporations Act .
Health Authorities Act
SECTION 171: [Health Authorities Act, amends
section 10 (4)] substitutes the new auditor
qualification provisions of the Business Corporations Act for the Company Act
auditor qualification provisions.
SECTION 172: [Health Authorities Act, amends
section 16 (4) (a)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
SECTION 173: [Health Authorities Act, amends
section 19] is consequential to the repeal of
the Company Act and its replacement with the Business Corporations Act, and
to the repeal of the Company Clauses Act by this Bill.
Health Professions Act
SECTION 174: [Health Professions Act, amends
section 15 (4)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
SECTION 175: [Health Professions Act, amends
section 43 (1) (a)] applies a broader definition
of "company" to the Health Professions Act to include all companies
recognized under the Business Corporations Act as that term is defined in that
Act.
SECTION 176: [Health Professions Act, amends
section 44 (4)]
updates a cross reference to the Company Act in the Health Professions
Act with the equivalent cross references to the Business Corporations
Act .
Homeowner Protection Act
SECTION 177: [Homeowner Protection Act, amends
section 3 (8)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
Hospital Act
SECTION 178: [Hospital Act, amends
section 52 (4)] is consequential
to the repeal of the Company Act and its replacement with the Business
Corporations Act .
Hydro and Power Authority Act
SECTION 179: [Hydro and Power Authority Act, repeals and replaces
section
32 (7) (c)] adopts for the Hydro and Power Authority Act the
new indemnification provisions of the Business Corporations Act .
Hydro and Power Authority Privatization Act
SECTION 180: [Hydro and Power Authority Privatization Act, amends
section
1] harmonizes the language of the Hydro and Power Authority Privatization
Act with the language of the Business Corporations Act .
SECTION 181: [Hydro and Power Authority Privatization Act, amends
section 3 (2) (a)] applies a broader definition of "company" to the Hydro and Power Authority Privatization Act to include all companies recognized under the Business Corporations Act as that term is defined in that Act.
SECTION 182: [Hydro and Power Authority Privatization Act, amends
section
18] applies a broader definition of "company" to the Hydro and Power
Authority Privatization Act to include all companies recognized under the
Business Corporations Act as that term is defined in that Act and otherwise
harmonizes the language of the Hydro and Power Authority Privatization Act
with the language of the Business Corporations Act .
SECTION 183: [Hydro and Power Authority Privatization Act, amends
section
19 (3) (d)] is consequential to the repeal of the Company Act
and its replacement with the Business Corporations Act .
SECTION 184: [Hydro and Power Authority Privatization Act, amends
section 23] includes a "notice of articles" within the charter documents of a special company.
SECTION 185: [Hydro and Power Authority Privatization Act, amends
section
24 (1) and (2)] is consequential to the repeal of the Company Act
and its replacement with the Business Corporations Act .
SECTION 186: [Hydro and Power Authority Privatization Act, amends
section
24 (1) (d) (i)] adopts for the Hydro and Power Authority Privatization
Act the new arrangement provisions of the Business Corporations Act .
SECTION 187: [Hydro and Power Authority Privatization Act, amends
section
25 (2)] harmonizes the language of the Hydro and Power Authority
Privatization Act with the language of the Business Corporations Act .
SECTION 188: [Hydro and Power Authority Privatization Act, amends
section
27 (1)] adopts for the Hydro and Power Authority Privatization Act
the new arrangement provisions of the Business Corporations Act and otherwise
harmonizes the language of the Hydro and Power Authority Privatization Act
with the language of the Business Corporations Act .
SECTION 189: [Hydro and Power Authority Privatization Act, amends sections
28 (3) (
b) and 29 (3) (b)] is consequential to the repeal of the Company
Act and its replacement with the Business Corporations Act .
SECTION 190: [Hydro and Power Authority Privatization Act, amends sections
28 (3) (
c) and 29 (3) (c)] adopts for the Hydro and Power Authority
Privatization Act the new arrangement provisions of the Business Corporations
Act .
SECTION 191: [Hydro and Power Authority Privatization Act, amends
section
34 (1)] is consequential to the repeal of the Company Act and
its replacement with the Business Corporations Act .
SECTION 192: [Hydro and Power Authority Privatization Act, amends
section
37 (5)] updates the cross references to the Company Act in the
Hydro and Power Authority Privatization Act with cross references to
the Business Corporations Act .
SECTION 193 [Hydro and Power Authority Privatization Act, amends
section
39 (3)] is consequential to the repeal of the Company Act and
its replacement with the Business Corporations Act .
SECTION 194: [Hydro and Power Authority Privatization Act, amends
section
40] includes a "notice of articles" within the charter documents over
which the Hydro and Power Authority Privatization Act and its regulations
take priority in the event of a conflict and is otherwise consequential to the
repeal of the Company Act and its replacement with the Business Corporations
Act .
Independent School Act
SECTION 195: [Independent School Act, amends
section 1 (1)] applies a broader definition of "company" to the definition of authority in the Independent School Act to include all companies recognized under the Business Corporations Act as that term is defined in that Act.
Innovation and Science Council Act
SECTION 196: [Innovation and Science Council Act, amends
section 16 (4)] substitutes the new auditor qualification provisions of the Business Corporations Act for the Company Act auditor qualification provisions.
Institute of Technology Act
SECTION 197: [Institute of Technology Act, amends
section 2 (2)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
Insurance (Captive Company) Act
SECTION 198: [Insurance (Captive Company) Act, amends
section 1] harmonizes the language of the Insurance (Captive Company) Act with the language of the Business Corporations Act and applies a broader definition of "company" to the
definitions of "association captive insurance company", "pure captive insurance company" and "sophisticated insured captive insurance company" in the Insurance (Captive Company) Act to include all companies recognized under the Business Corporations Act as that term is defined in that Act.
SECTION 199: [Insurance (Captive Company) Act, amends
section 3 (5)]
adopts for the Insurance (Captive Company) Act the new continuation and
extraprovincial amalgamation provisions of the Business Corporations Act .
SECTION 200: [Insurance (Captive Company) Act, amends
section 7 (c)] includes a "notice
of articles" within the charter documents that a captive insurance company
must not change without the consent of the superintendent.
SECTION 201: [Insurance (Captive Company) Act, amends
section 12 (1) (a)] applies a
broader definition of "company" to the Insurance (Captive Company) Act to
include all companies recognized under the Business Corporations Act as that
term is defined in that Act.
SECTION 202: [Insurance (Captive Company) Act, amends
section 13 (2) (k)] allows the
Lieutenant Governor in Council to make regulations disapplying some or all of
the Business Corporations Act to captive insurance companies.
Insurance Corporation Act
SECTION 203: [Insurance Corporation Act, amends
section 40] is
consequential to the repeal of the Company Act and its replacement with
the Business Corporations Act .
Insurance (Motor Vehicle) Act
SECTION 204: [Insurance (Motor Vehicle) Act, amends
section 7 (2) (b)] applies a broader
definition of "company" to the corporate status required before a corporation
can provide extension insurance.
International Financial Business Act
SECTION 205: [International Financial Business Act, amends
section 1
(1)] preserves for the International Financial Business Act the
Company Act definition of associate and otherwise harmonizes the language
of the International Financial Business Act with the language of the
Business Corporations Act .
SECTION 206: [International Financial Business Act, amends
section 2]
precludes a licensed corporation from entering into an extraprovincial amalgamation,
preserves for the International Financial Business Act the Company
Act requirements for resident directors and otherwise updates the cross
references to the Company Act in the International Financial Business
Act with cross references to the Business Corporations Act .
SECTION 207: [International Financial Business Act, repeals and replaces
section 3 (1) (a)]
applies a broader definition of "company" to the corporate status required
before a corporation can apply for a licence to carry on an international
financial business.
SECTION 208: [International Financial Business Act, amends
section 10
(1) (c)] provides the superintendent with the power to require a corporation's
assets to be held for a receiver or other authorized person appointed under
the Business Corporations Act .
SECTION 209: [International Financial Business Act, amends
section 11
(5)] updates the cross references to the Company Act in the International
Financial Business Act with cross references to the Business Corporations
Act .
SECTION 210: [International Financial Business Act, amends
section 18]
updates the cross references to the Company Act in the International
Financial Business Act with cross references to the Business Corporations
Act .
SECTION 211: [International Financial Business Act, amends
section 20
(2) (h)] harmonizes the language of the International Financial Business
Act with the language of the Business Corporations Act .
Interpretation Act
SECTION 212: [Interpretation Act, amends
section 29] is consequential
to the repeal of the Company Act and its replacement with the Business
Corporations Act .
Islands Trust Act
SECTION 213: [Islands Trust Act, amends sections 12, 25 and 42] is
consequential to the repeal of the Company Act and its replacement with
the Business Corporations Act .
Land Surveyors Act
SECTION 214: [Land Surveyors Act, amends
section 51 (1)] applies
a broader definition of "company" to the corporate status of a land surveying
company to which a permit may be issued under the Land Surveyors Act .
Land Tax Deferment Act
SECTION 215: [Land Tax Deferment Act, amends
section 5 (3) (f)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
Land Title Act
SECTION 216: [Land Title Act, amends
section 165 (4) (b)] includes
a "notice of articles" within the charter documents over which an executed instrument
can take priority for the purposes of the Land Title Act .
SECTION 217: [Land Title Act, repeals
section 202] reflects the removal from the Business
Corporations Act of the majority of the Company Act provisions that dealt with
debentures.
Legal Professions Act
SECTION 218: [Legal Professions Act, amends
section 1 (1)] includes the drafting, revising
or settling of a notice of articles as a task that constitutes the practice of law.
SECTION 219: [Legal Professions Act, amends
section 82 (1)] harmonizes
the language of the Legal Professions Act with the language of the Business
Corporations Act .
Legal Services Society Act
SECTION 220: [Legal Services Society Act, amends
section 3 (1) and (2)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
Liquor Control and Licensing Act
SECTION 221: [Liquor Control and Licensing Act, amends
section 76 (1)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
Livestock Act
SECTION 222: [Livestock Act, amends
section 4 (4)] is consequential
to the repeal of the Company Act and its replacement with the Business
Corporations Act .
Local Government Act
SECTION 223: [Local Government Act, amends
section 331 (2) (b)] harmonizes
the language of the Local Government Act with the language of the Business
Corporations Act .
Members' Conflict of Interest Act
SECTION 224: [Members' Conflict of Interest Act, amends
section 16 (4)]
updates the cross references to the Company Act in the Members' Conflict
of Interest Act with cross references to the Business Corporations Act .
Mineral Tenure Act
SECTION 225: [Mineral Tenure Act, amends
section 8 (1) (a)] applies
a broader definition of "company" to the corporate status of a corporation that
can constitute a Canadian corporation for the purposes of the Mineral Tenure
Act , harmonizes the language of the Mineral Tenure Act with the language
of the Business Corporations Act and is otherwise consequential to the
repeal of the Company Clauses Act by this Bill.
Ministry of Transportation and Highways Act
SECTION 226: [Ministry of Transportation and Highways Act, amends
section
6 (e) (i)] is consequential to the repeal of the Company Act and
its replacement with the Business Corporations Act .
SECTION 227: [Ministry of Transportation and Highways Act, amends
section
37] is consequential to the repeal of the Company Act and its
replacement with the Business Corporations Act .
SECTION 228: [Ministry of Transportation and Highways Act, amends
section
39 (1)] harmonizes the language of the Ministry of Transportation
and Highways Act with the language of the Business Corporations Act
and is otherwise consequential to the repeal of the Company Act and its
replacement with the Business Corporations Act .
SECTION 229: [Ministry of Transportation and Highways Act, amends
section
41 (4)] is consequential to the repeal of the Company Act and
its replacement with the Business Corporations Act .
Miscellaneous Statutes Amendment Act (No. 2), 2002
SECTION 230: [Miscellaneous Statutes Amendment Act (No. 2), 2002, amends
section 40] is consequential to the repeal of the Company Act
and its replacement with the Business Corporations Act .
Motor Vehicle Act
SECTION 231: [Motor Vehicle Act, repeals and replaces
section 4 (2) (b)]
harmonizes the language of the Motor Vehicle Act with the language of
the Business Corporations Act .
SECTION 232: [Motor Vehicle Act, amends
section 19] harmonizes the language of the Motor
Vehicle Act with the language of the Business Corporations Act and clarifies
the application of
section 19 of the Motor Vehicle Act to extraprovincial companies.
Mountain Resort Associations Act
SECTION 233: [Mountain Resort Association Act, amends
section 6]
removes a reference to "reporting company" as those entities are not referred
to in the Business Corporations Act and is otherwise consequential to
the repeal of the Company Act and its replacement with the Business
Corporations Act .
Municipal Finance Authority Act
SECTION 234: [Municipal Finance Authority Act, amends
section 28 (2)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
Notaries Act
SECTION 235: [Notaries Act, amends
section 58 (1)] applies a broader definition of
"company" to the Notaries Act to include all companies recognized under the
Business Corporations Act as that term is defined in that Act.
Okanagan Valley Tree Fruit Authority Act
SECTION 236: [Okanagan Valley Tree Fruit Authority Act, amends
section
15] is consequential to the repeal of the Company Act and its
replacement with the Business Corporations Act , and to the repeal of
the Company Clauses Act by this Bill.
Open Learning Agency Act
SECTION 237: [Open Learning Agency Act, amends sections 2 (3) and 18
(2) (e)] is consequential to the repeal of the Company Act and
its replacement with the Business Corporations Act .
SECTION 238: [Open Learning Agency Act, amends
section 15 (b)] substitutes the new
auditor qualification provisions of the Business Corporations Act for the
Company Act auditor qualification provisions.
Optometrists Act
SECTION 239: [Optometrists Act, amends
section 13 (1)] applies a broader definition of
"company" to the Optometrists Act to include all companies recognized under
the Business Corporations Act as that term is defined in that Act.
Partnership Act
SECTION 240: [Partnership Act, amends
section 1] is consequential
to the repeal of the Company Act and its replacement with the Business
Corporations Act .
Pension Benefits Standards Act
SECTION 241: [Pension Benefits Standards Act, amends
section 1 (1)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
Pension Fund Societies Act
SECTION 242: [Pension Fund Societies Act, amends
section 1] harmonizes
the language of the Pension Fund Societies Act with the language of the
Business Corporations Act .
Personal Property Security Act
SECTION 243: [Personal Property Security Act, amends
section 64 (2) (e)]
harmonizes the language of the Personal Property Security Act
with the language of the Business Corporations Act .
Pharmacists, Pharmacy Operations and Drug Scheduling Act
SECTION 244: [Pharmacists, Pharmacy Operations and Drug Scheduling Act, amends
section 25 (2)] applies a broader definition of "company" to the Pharmacists,
Pharmacy Operations and Drug Scheduling Act to include all companies
recognized under the Business Corporations Act as that term is defined in that
Act.
Podiatrists Act
SECTION 245: [Podiatrists Act, amends
section 13 (1)] applies a broader definition of
"company" to the Podiatrists Act to include all companies recognized under
the Business Corporations Act as that term is defined in that Act.
Private Investigators and Security Agencies Act
SECTION 246: [Private Investigators and Security Agencies Act, amends
section 6 (a)] adopts the new definition of senior officer from the
Business Corporations Act .
Private Post-Secondary Education Act
SECTION 247: [Private Post-Secondary Education Act, amends
section 24 (b)] substitutes
the new auditor qualification provisions of the Business Corporations Act for
the Company Act auditor qualification provisions.
Property Transfer Tax Act
SECTION 248: [Property Transfer Tax Act, amends
section 14 (4) (u) (i)]
adopts for the Property Transfer Tax Act the new amalgamation provisions
of the Business Corporations Act .
Public Sector Pension Plans Act
SECTION 249: [Public Sector Pension Plans Act, amends
section 5 (7)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act , and to the repeal of the Company
Clauses Act by this Bill.
SECTION 250: [Public Sector Pension Plans Act, amends
section 9 (1) (c)] substitutes the
new auditor qualification provisions of the Business Corporations Act for the
Company Act auditor qualification provisions.
SECTION 251: [Public Sector Pension Plans Act, amends
section 16 (7)] is consequential to
the repeal of the Company Act and its replacement with the Business Corporations
Act, and to the repeal of the Company Clauses Act by this Bill.
SECTION 252: [Public Sector Pension Plans Act, amends
section 20 (1) (c)] substitutes the
new auditor qualification provisions of the Business Corporations Act for the
Company Act auditor qualification provisions.
Railway Act
SECTION 253: [Railway Act, amends
section 5] reflects the repeal of
Part 11 of the Railway
Act under this Bill.
SECTION 254: [Railway Act, amends
section 8] harmonizes the language
of the Railway Act with the language of the Business Corporations
Act and is otherwise consequential to the repeal of the Company Act
and its replacement with the Business Corporations Act .
Range Act
SECTION 255: [Range Act, amends
section 20 (1)] is consequential
to the repeal of the Company Act and its replacement with the Business
Corporations Act .
SECTION 256: [Range Act, amends
section 46 (1) (b)] adopts for the Range Act the service
provisions of the Business Corporations Act applicable to corporations.
Real Estate Act
SECTION 257: [Real Estate Act, amends
section 1] is consequential
to the repeal of the Company Act and its replacement with the Business
Corporations Act .
Resort Municipality of Whistler Act
SECTION 258: [Resort Municipality of Whistler Act, amends
section 16]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
School Act
SECTION 259: [School Act, amends
section 55] adopts the Business
Corporations Act 's definition of "senior officer".
SECTION 260: [School Act, amends
section 95.1 (1)] harmonizes
the language of
Part 6.1 of the School Act with the language of the Business
Corporations Act .
SECTION 261: [School Act, amends
section 95.11] harmonizes the
language of
Part 6.1 of the School Act with the language of the Business
Corporations Act and is otherwise consequential to the repeal of the Company
Act and its replacement with the Business Corporations Act .
SECTION 262: [School Act, amends
section 95.12] is consequential to the repeal of the
Company Act and its replacement with the Business Corporations Act .
SECTION 263: [School Act, re-enacts sections 95.2 and 95.21] establishes the procedure by
which a board may form a company.
SECTION 264: [School Act, amends
section 95.22] harmonizes the
language of the School Act with the language of the Business Corporations
Act .
SECTION 265: [School Act, re-enacts
section 95.23 and enacts
section 95.231] applies the
provisions of the Business Corporations Act dealing with the effect of incorporating
a company and provides that, if a company carries on business without
a member, the directors and officers are liable for the debts contracted by the
company during that time.
SECTION 266: [School Act, adds
section 95.24 (3)] restricts the
use of "School District" or "Francophone Education Authority" in names to names
of companies owned by the board or authority.
SECTION 267: [School Act, amends
section 95.25] harmonizes the
language of the School Act with the language of the Business Corporations
Act .
SECTION 268: [School Act, re-enacts
section 95.27] updates the
cross references to the Company Act in the School Act with cross
references to the Business Corporations Act .
SECTION 269: [School Act, re-enacts
section 95.29] applies the
new corporate offices provisions of the Business Corporations Act to
the School Act .
SECTION 270: [School Act, re-enacts
section 95.32] updates the
cross references to the Company Act in the School Act with cross
references to the Business Corporations Act .
SECTION 271: [School Act, re-enacts
section 95.34] updates the
cross references to the Company Act in the School Act with cross
references to the Business Corporations Act .
SECTION 272: [School Act, re-enacts
section 95.41 and enacts sections 95.412 to 95.414]
updates the cross references to the Company Act in the School Act with cross
references to the Business Corporations Act and applies residency requirements
to company directors, restricts financial assistance, prohibits loans and
guarantees in certain circumstances and allows the enforcement of contracts
made in contravention of those restrictions.
SECTION 273: [School Act, amends
section 95.5] updates the cross references to the
Company Act in the School Act with cross references to the Business Corporations
Act .
SECTION 274: [School Act, re-enacts
section 95.52] updates the cross references to the
Company Act in the School Act with cross references to the Business Corporations
Act and expressly allows a company to restrict the times at which its
records may be inspected.
SECTION 275: [School Act, re-enacts
section 95.61] updates the cross references to the
Company Act in the School Act with cross references to the Business Corporations
Act .
SECTION 276: [School Act, amends
section 95.7] provides for the
conversion of a company under the School Act to a company under the Business
Corporations Act .
SECTION 277: [School Act, re-enacts
section 95.72 and enacts
section 95.73] updates the
cross references to the Company Act in the School Act with cross references to
the Business Corporations Act and requires a board to approve a special resolution
by bylaw before voting in favour of that resolution.
SECTION 278: [School Act, re-enacts
section 95.8] updates the
cross references to the Company Act in the School Act with cross
references to the Business Corporations Act .
SECTION 279: [School Act, re-enacts
section 95.81] updates the
cross references to the Company Act in the School Act with cross
references to the Business Corporations Act , harmonizes the language
of the School Act with the language of the Business Corporations Act
and provides that if a board is the member of more than one company, the companies
of which it is the member must amalgamate.
SECTION 280: [School Act, re-enacts sections 95.82 and 95.83]
updates the cross references to the Company Act in the School Act
with cross references to the Business Corporations Act , allows court
applications in relation to liquidations to be brought by specified people and
provides that a notation in the corporate register respecting a company is conclusive
evidence.
SECTION 281: [School Act, amends
section 95.9] allows the Lieutenant
Governor in Council to make regulations prescribing forms similar to those forms
approved by the registrar for the purposes of the Business Corporations Act
and is otherwise consequential to the repeal of the Company Act and its
replacement with the Business Corporations Act .
SECTION 282: [School Act, enacts
section 95.91] applies the transitional provisions of the
Business Corporations Act to companies incorporated under the School Act
before the coming into force of this
section of this Bill.
Securities Act
SECTION 283: [Securities Act, amends
section 5 (3)] is consequential
to the repeal of the Company Act and its replacement with the Business
Corporations Act .
SECTION 284: [Securities Act, amends
section 45] provides registration
is not required for a trade by a receiver or other authorized person appointed
under the Business Corporations Act and harmonizes the language of the
Securities Act with the language of the Business Corporations Act .
SECTION 285: [Securities Act, amends
section 74 (2) (11) (ii)]
harmonizes the language of the Securities Act with the language of the
Business Corporations Act .
SECTION 286: [Securities Act, amends
section 151 (2) (b) (ii)]
provides the commission with the power to require a person to hold securities
or other specified property for a receiver or other authorized person appointed
under the Business Corporations Act .
Skagit Environmental Enhancement Act
SECTION 287: [Skagit Environmental Enhancement Act, amends
section 5
(2)] is consequential to the repeal of the Company Act and its
replacement with the Business Corporations Act .
Small Business Venture Capital Act
SECTION 288: [Small Business Venture Capital Act, amends
section 1 (1)]
harmonizes the language of the Small Business Venture Capital Act with
the language of the Business Corporations Act .
SECTION 289: [Small Business Venture Capital Act, amends
section 2 (2)]
harmonizes the language of the Small Business Venture Capital Act with
the language of the Business Corporations Act .
SECTION 290: [Small Business Venture Capital Act, amends
section 3 (1)]
includes as corporations that may be registered under the Small Business
Venture Capital Act , companies incorporated under the Business
Corporations Act , updates the cross references to the Company Act
in the Small Business Venture Capital Act with cross references to the
Business Corporations Act and harmonizes the language of the Small
Business Venture Capital Act with the language of the Business Corporations
Act .
SECTION 291: [Small Business Venture Capital Act, amends
section 7 (3)]
harmonizes the language of the Small Business Venture Capital Act with
the language of the Business Corporations Act .
SECTION 292: [Small Business Venture Capital Act, amends
section 23]
adopts for the purposes of
section 23 of the Small Business Venture Capital
Act the capital provisions of the Business Corporations Act .
SECTION 293: [Small Business Venture Capital Act, repeals and replaces
section 24 (1) (b)] updates the cross references to the Company Act
in the Small Business Venture Capital Act with cross references to the
Business Corporations Act .
SECTION 294: [Small Business Venture Capital Act, repeals and replaces
section 25 (
b) to (g)] adopts for the purposes of
section 25 of the
Small Business Venture Capital Act the liquidation and amalgamation provisions
of the Business Corporations Act .
Social Service Tax Act
SECTION 295: [Social Service Tax Act, amends
section 46 (2) (e)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
Society Act
SECTION 296: [Society Act, amends
section 1] harmonizes the language
of the Society Act with the language of the Business Corporations
Act and is otherwise consequential to the repeal of the Company Act
and its replacement with the Business Corporations Act .
SECTION 297: [Society Act, amends
section 3] adopts for the purposes
section 3 of the Society Act the name provisions of the Business
Corporations Act .
SECTION 298: [Society Act, amends 20 (2) (a)] adopts for the
purposes of
section 20 of the Society Act the name provisions of the
Business Corporations Act .
SECTION 299: [Society Act, amends 35 (1)] removes cross references
to Company Act sections that are replicated in the Society Act
under this Bill and otherwise updates the cross references to the Company
Act in the Society Act with cross references to the Business Corporations
Act .
SECTION 300: [Society Act, enacts sections 35.1 and 35.2] adopts
into the Society Act sections 75 and 85 of the Company Act .
SECTION 301: [Society Act, amends
section 42 (b)] is consequential
to the repeal of the Company Act and its replacement with the Business
Corporations Act .
SECTION 302: [Society Act, repeals and replaces
section 71 (1)]
continues the application of
Part 9 the Company Act to societies and
extraprovincial societies despite the repeal of the Company Act .
SECTION 303: [Society Act, re-enacts
section 74] adopts the conversion provisions of the
Business Corporations Act in relation to conversion of societies to companies.
SECTION 304: [Society Act, repeals and replaces
section 75 (4)]
requires an extraprovincial society to reserve its name before registering under
the Society Act .
SECTION 305: [Society Act, amends 95 (2)] reflects the ability of the registrar of companies
to designate signing officers.
Strata Property Act
SECTION 306: [Strata Property Act, re-enacts 276 and enacts
section 276.1] adopts specified
portions of the voluntary winding up provisions of the Business Corporations
Act in relation to the winding up of strata corporations and directs that the liquidator
of a strata corporation is required to keep custody of the records of a strata
corporation for 2 years after the winding up of that corporation.
SECTION 307: [Strata Property Act, amends
section 277 (2)] is
consequential to the repeal of the Company Act and its replacement with
the Business Corporations Act .
SECTION 308: [Strata Property Act, re-enacts
section 283] requires that the registrar receive
proof of approval of final accounts before an application for dissolution of a
strata corporation may be filed.
SECTION 309: [Strata Property Act, amends 291 (1)] provides that
the Business Corporations Act does not apply to a strata corporation
except to the extent provided in the Strata Property Act .
Tobacco Damages and Health Care Costs Recovery Act
SECTION 310: [Tobacco Damages and Health Care Costs Recovery Act, amends
section 1 (3) (a)] is consequential to the repeal of the Company
Act and its replacement with the Business Corporations Act .
Tourism British Columbia Act
SECTION 311: [Tourism British Columbia Act, repeals and replaces
section
16 (4) (c)] updates the cross references to the Company Act in
the Tourism British Columbia Act with cross references to the Business
Corporations Act .
Trade Development Corporation Act
SECTION 312: [Trade Development Corporation Act, amends
section 13] is consequential to
the repeal of the Company Act and its replacement with the Business Corporations
Act, and to the repeal of the Company Clauses Act by this Bill.
Trade Practices Act
SECTION 313: [Trade Practices Act, amends
section 10 (2.6) (d)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
University Foundations Act
SECTION 314: [University Foundations Act, amends
section 13] substitutes the new auditor
qualification provisions of the Business Corporations Act for the Company Act
auditor qualification provisions.
SECTION 315: [University Foundations Act, amends
section 15 (1) and (2)]
is consequential to the repeal of the Company Act and its replacement
with the Business Corporations Act .
Victoria Foundation Act
SECTION 316: [Victoria Foundation Act, re-enacts
section 26] is consequential to the repeal
of the Company Act and its replacement with the Business Corporations Act,
and to the repeal of the Company Clauses Act by this Bill.
Waste Management Act
SECTION 317: [Waste Management Act, repeals and replaces
section 36 (5)
(b) (ii)] harmonizes the language of the Waste Management Act
with the language of the Business Corporations Act .
Copyright (c) 2003: Queen's Printer, Victoria, British Columbia, Canada