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Transition and Fees: Corporations
currently incorporated under the Canada Corporations Act
will have three years to apply for corporate status
(transition) under the new Act.
There will be no fees for this process. If a
corporation does not apply for transition within the
three-year period, it may be dissolved by the Director
appointed under the Act. Incorporation fees for new
corporations under the Canada Not-for-Profit Corporations
Act will be set by regulation. Currently, it costs $200
to apply for incorporation status, plus an additional $30 to
file mandatory annual summaries.
Role of the Director: The Director
Appointed Under the Act (Director) functions primarily as a
public registrar of corporations and exercises some
regulatory powers under the Act. For example, the Director
is responsible for the issuance of certificates of
incorporation, amalgamation, or dissolution of a
corporation. The Director can order a corporation to change
its name if the name is prohibited or deceptively
misrepresentative. The Director may also apply to a court to
have a corporation dissolved or, under certain
circumstances, dissolve it himself. Previously, these powers
were exercised under Ministerial discretion.
The Director is also provided with broad
investigative powers in the event of a complaint. The
Director may make an application to a court for a variety of
actions, including: investigation of corporations or their
affiliates; the appointment of inspectors; permission for
inspectors to enter any necessary premises; require the
production of documents; attendance at hearings; and all
other powers that would be necessary for the investigation
of a complaint.
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