Alberta's Bill 84, Business Corporations Amendment
Act ("Bill 84"), which received
Royal assent on December 2, 2021 and is expected to come into force
in early 2022, amends the Business Corporations Act
("ABCA") to provide greater flexibility
in the management of corporations and reduce certain administrative
burdens.
The amendments in Bill 84 aim to increase administrative
efficiency, provide greater flexibility for shareholder meetings,
revival of corporations, shareholder approval thresholds, and by
removing inapplicable or antiquated provisions. We have summarized
what we believe are the most substantial changes.
Shareholder Meetings. The minimum notice for
shareholder meetings of private companies will be reduced from 21
to 7 days. This increases flexibility and permits shareholders to
address time-sensitive issues as they arise.
