The new Quebec Business Corporations
Act (QBCA), which was introduced following
three years of extensive consultations, will come into force on
February 14, 2011.
Major reform of Quebec corporate law
As discussed in our December 2009
bulletin, the QBCA makes major changes
to the regime applicable to companies currently governed by the
Quebec Companies Act
(QCA). These changes will take effect as soon as the QBCA comes
into force on February 14, 2011 as the Act will automatically apply
to companies constituted, continued or resulting from an
amalgamation under Part IA of the QCA without any action required
on their part. They will become "business corporations"
governed by the new statute, as will insurance companies within the
meaning of the Act respecting
insurance, to which Part IA of the QCA
applies. Companies constituted, continued or resulting from an
amalgamation under Part I of the QCA will, for their part, have
five years to send articles of continuance
