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Effective April 16, 2007, amendments to The Corporations Act contained in The Corporations Amendment Act, SM 2006, c. 10, come into force.  The amendments include the following:

  1. Facilitating participation in meetings of corporate shareholders and directors by electronic means, and setting the applicable rules. It is noteworthy that these provisions may be variously opted into, or out of, by by-law.
     
  2. The filing of documents with The Companies Office in counterparts.  Documents requiring the signature of more than one person may be signed in several documents of identical form, each of which is signed by one or more of the persons, and submitted together to The Companies Office together with a lawyer’s certificate of comparison.
     
  3. Forms and their requirements under The Corporations Act will no longer be prescribed by regulation, but will be set by the Director of the Companies Office.  Concurrently, the Corporations Regulation is being amended to delete the forms and their requirements from the regulation.  At this time, no substantive changes are being made to those forms or their requirements, and pursuant to this new power, the Director is presently setting the forms and their requirements to be exactly as they were before April 16, 2007.

Certain other provisions of The Corporations Amendment Act came into force on Royal Assent (June 13, 2006). Those provisions amended The Corporations Act in areas which include the residency of directors, corporate financial assistance, and the legal responsibilities and liabilities of corporate directors.

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