Important Changes to the Alberta Business Corporations Act Now in Effect
By EsqSocial Corporation 14/04/21
Removal of Residency Requirements for Directors - On March 29, 2021, Alberta removed the Canadian residency requirements of directors for Alberta corporations governed by the Alberta Business Corporations Act (ABCA). Previously, the ABCA required at least 25 percent of an Alberta corporation's directors to be resident Canadians. The ABCA also imposed a residency requirement for quorum: in order to transact business at a meeting of directors, 25 percent of the directors present had to be...
By: Bennett Jones LLP