Revenue Quebec has reminded certain corporations that they must either file articles of continuance or apply for dissolution by 14 February 2016. Affected companies that do not choose one of these options will be automatically dissolved, and this could result in frozen bank transactions or additional fees for an application to revive the business.
Quebec's Business Corporations Act, enacted in February 2011, included provisions to increase protective measures for shareholders, and streamline and modernize administrative procedures. Although some corporations were automatically transitioned to the new rules, others (such as joint stock companies) were required to either file articles of continuance or apply for dissolution.
Read a September 2015 report prepared by the KPMG member firm in Canada: Some Quebec Companies Must File Continuance or Dissolution by Early 2016
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