Changes are coming to the Alberta Business Corporations
Act (the "Act"). On December 2, 2021 the Government
of Alberta's Bill 84: Business Corporations Amendment Act,
2021 ("Bill 84") received Royal Assent. Bill 84 will
come into force on proclamation, expected to be some time after the
accompanying regulations have been developed.
Overall, these amendments aim to bring Alberta's corporate
legislation in line with other provinces and to attract investment
by making Alberta a more attractive jurisdiction to incorporate or
grow a business in the eyes of directors, private equity investors,
and entrepreneurs.
Bill 84 updates and streamlines some of the language used in the
Act and modernizes several provisions, including by allowing for
electronic delivery of notices by the Registrar, allowing corporate
records to be made available for examination electronically and
replacing the concept of "distributing corporation" with
"reporting issuer."
