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ServiceBC Registry Team working on Legal Entities
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COVID AGM extension #5379

Open forgeuxGH5 opened 4 years ago

forgeuxGH5 commented 4 years ago

https://preview.uxpin.com/2b782e515a799d3697c4834f8caaf7dd75fa286d#/pages/133204219

sienna-oldaccountdontuse commented 3 years ago

We discussed the text for the no agm compliance warning. Cameron and Amber would like this for if you click "no-agm":

A general meeting of every association must be held at least once in every calendar year within 4 months after the end of its financial year, to be in compliance with the Cooperative Association Act (Section 143).

You can continue your filing, and there is no fee enforced by BC Registries and Online Services for being out of compliance with legislation. However, it is important to hold a valid AGM in the next calendar year to be in compliance with the cooperative association act.

forgeuxGH5 commented 3 years ago

This part is a bit confusing: "there is no fee enforced by BC Registries and Online Services for being out of compliance". It seems like this means I don't have to pay for my AR filing if I select "No AGM"... Does it mean there's no fine/financial penalty for being out of compliance?

sienna-oldaccountdontuse commented 3 years ago

@forgeuxGH5 Yes that is exactly what we meant haha, would "there is no financial penalty for being out of compliance with the legislation" sound better? Maybe we should run that wording by Amber and Cameron