November 2015
PFD | Business

Important reminder: To avoid dissolution, you must continue your company created under Part I of the Companies Act by February 13, 2016

By Francis Chaussé Lawyer

Francis Chaussé, attorney

February 14, 2016, will mark the fifth anniversary of the coming into force of the Business Corporations Act (hereinafter, the "Act"), which replaced the Companies Act and provides corporations in Québec with a system of law that is better suited to their needs.

The businesses created under Part I-A were automatically continued under the new Act when it came into effect. Still, organizations that have not already done so must update their general rules and share certificates

Businesses constituted or created out of a merger under Part I of the Companies Act must provide the Registraire des entreprises with certificates of continuance in accordance with the Act.

Failure to comply with this requirement will result in a business' automatic dissolution on February 14, 2016.

Experts in the corporate law group at Prévost Fortin D'Aoust can help you determine the requirements that apply to your business and inform you of any steps that must be taken to ensure that your organization complies with the Act by the deadline.

Do not hesitate to contact us.