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Volume 49, No. 23

B.C. Reg. 307/2006

The British Columbia Gazette,

Part II

December 5, 2006

B.C. Reg. 307/2006, deposited December 1, 2006, pursuant to the BUSINESS CORPORATIONS ACT [Section 432]. Order in Council 873/2006, approved and ordered December 1, 2006.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that, effective December 3, 2006, the Business Corporations Regulation, B.C. Reg. 65/2004, is amended as set out in the attached Schedule.

— C. TAYLOR, Minister of Finance; G. CAMPBELL, Presiding Member of the Executive Council.

Schedule

Section 3 of the Business Corporations Regulation, B.C. Reg. 65/2004, is amended by adding the following subsection:

(1.1) A company's articles or memorandum may specify different periods for the different matters referred to in subsection (1).

Section 11 is repealed and the following substituted:

Form of records office records

11 Records referred to in

section 42 of the Act, wherever kept, may be kept

(

a) in an electronic form,

(

b) in a microfilmed form, or

(

c) in a bound or looseleaf form.

Section 12 is amended by striking out "or 47 (1) (b)".

Section 21 (2) is amended by striking out everything after "for a financial year" and substituting "need not be prepared in accordance with generally accepted accounting principles if the shareholders of the company, whether or not their shares otherwise carry the right to vote, resolve, by unanimous resolution, to waive those principles for that financial year."

5 The following

section is added:

Form of dissolved company records

25.1 For the purposes of

section 351 (4) (

b) of the Act, a dissolved company's records may be retained

(

a) in an electronic form,

(

b) in a microfilmed form, or

(

c) in a bound or looseleaf form.

Section 30 (2) is amended by adding the following paragraph:

(

j) applications for dissolution under

section 316 of the Act.

Section 31 is amended by adding the following paragraph:

(

d) applications for dissolution under

section 316 of the Act.

Section P3 of Table 3 is amended by striking out "set out the majority of votes required for shareholders holding shares of that class or series of shares to pass a separate resolution." and substituting "set out that the majority of votes required for shareholders holding shares of that class or series of shares to pass a separate resolution is at least 2/3 and not more than 3/4 of the votes cast on the resolution."

Section P17 (

c) is amended by striking out "this section" and substituting "section P16".

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