Alterations affecting BComps

[Kaineatthelab]

Alterations affecting BComps

As per release meeting October 28th, 2020 this self serve filing needs to be Feature Flagged. This will allow flexibility in release as Name Requests and other releases are large.

Alterations are changes to an existing entity or changing entities within the same act

• BC to Benefit - Requirements document
• ULC to Benefit
• Benefit to BC
• Changes to Benefit company (name, name translations, share structure, resolution/court order dates, pre-existing conditions)

Conversions affecting BComps

Conversions are changing entities from one act to another

• A Special Act corporation can convert to a BComp unless its Act says it cannot. Needs consent of the Minister and a special resolution.

Conversions/Alterations not allowed for BComps

• Member funded society to BComp - needs to convert to a BC company and then file an alteration from a BC to a BComp
• Benefit to ULC - needs to alter from BComp to BC and then 2nd alteration from BC to ULC
• Benefit to CCC - needs to alter from BCOMP to BC and then 2nd alteration from BC to CCC

Priority in building self-serve filings

1. BC to Benefit
2. Alteration of Benefit company info
3. ULC to Benefit
4. Conversion of Special Act to Ben
5. Benefit to BC

Design (BC to Benefit)

https://app.zenhub.com/workspaces/entity-5bf2f2164b5806bc2bf60531/issues/bcgov/entity/4293

What is the difference between an alteration and a correction?

Correction: Correct a specific filing that was done WRONG in the past.
Alteration: File a new filing today (immediate up to 10 days in the future) to update info. It is a maintenance filing.
Check out this spreadsheet to see comparisons field-by-field

[lmcclung]

Here is clarification from Policy regarding what entity types can become a benefit company and what entity types a benefit company can become.

https://app.zenhub.com/files/157936592/cde22d2a-c3ec-40f1-b7a7-9a0ec088512f/download

[lmcclung]

Updated description to remove the following conversions/alterations as not applicable to BComps

Member funded society to a BC company
Member funded society to a CCC
Member funded society to BComp - needs to convert to a BC company and then file an alteration from a BC to a BComp
Special Act to a BC company
Special Act to a BC CCC
Special Act to a Society
Special Act Insurance Company to a BC Company
BC to ULC
BC to CCC
ULC to BC
Benefit to ULC - needs to alter from BComp to BC and then 2nd alteration from BC to ULC
Benefit to CCC - needs to alter from BCOMP to BC and then 2nd alteration from BC to CCC

[Kaineatthelab]

This needs to be groomed August 7th and 14th