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CCC Amalgamations Constraints #18544

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Mihai-QuickSilverDev opened this issue Nov 14, 2023 · 0 comments
Open
16 tasks

CCC Amalgamations Constraints #18544

Mihai-QuickSilverDev opened this issue Nov 14, 2023 · 0 comments
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@Mihai-QuickSilverDev
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Mihai-QuickSilverDev commented Nov 14, 2023

  • Any amalgamation with BC Community Contribution Companies results in a Community Contribution Company.
  • A BC Unlimited Company and BC Community Contribution Company can amalgamate and must form a BC Community Contribution Company (as per section 51.98).
  • ULCs can amalgamate to become “limited companies” (CCCs are a type of limited company, which is defined as any company other than a ULC).
  • An extra-Pro cannot amalgamate with anything to become a BC Unlimited Liability Company or a BC Community Contribution Company.
  • A BC Limited Company and BC Community Contribution Company can amalgamate but must form a BC Community Contribution Company.
  • A BC Unlimited Liability Company and BC Community Contribution Company can amalgamate but must form a BC Community Contribution Company.
  • Amalgamations resulting in a BC Community Contribution Company
  • The TINGs can be any combination of BC, ULC, CCC and foreign companies although a foreign company cannot be part of a CCC amalgamation when one of the TINGs is a ULC.
  • Two or more BC companies can amalgamate and form a BC Community Contribution Company.
  • Affects Regular, Vertical and Horizontal amalgamation forms and on-line transactions.
  • NOA must not contain the Unlimited Liability Company statement referred to in Section 51.11 (and a CCC statement is not required).
  • New name of the company cannot contain “Unlimited Liability Company" or its abbreviation “ULC" .
  • New name of the company must comply with section 51.21.
  • A BC Limited Company and BC Community Contribution Company can amalgamate but must form a BC Community Contribution Company.
  • A BC Unlimited Liability Company and BC Community Contribution Company can amalgamate but must form a BC Community Contribution Company.
  • BC Unlimited Liability Company, BC Unlimited Liability Company and BC Community Contribution Company can amalgamate but must form a BC Community Contribution Company.
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