In case you missed this, on August 7th, 2020, The Minister of Innovation, Science and Industry has issued an order extending the deadlines for CBCA corporations to call their 2020 annual general meeting of shareholders and presenting financial statements. The order is retroactive to March 13, 2020, and ends on December 31, 2020. Corporations automatically qualify for the extensions and do not need to apply to Corporations Canada.
Time to call a 2020 AGM to the shortest of the following two options:
- 21 months after the previous AGM and no more than 12 months after the last financial year-end; or
- December 31, 2020.
Directors can present financial statements to shareholders or members at the AGM no more than 12 months after the organization’s last financial year-end. This extends the usual requirement by six months.
If you work for a CBCA corporation, remember to check your company’s by-law to see if they permit virtual or telephone meetings to be held.
Read the full order here.