Registration Requirements

Last updated on April 27, 2018

Financial statements of the corporation per section 2 (1) (a)

Copy of the corporation's constitution (the memorandum and articles or other constitutional documents of a corporation) section 2 (1) (b)

An employee share ownership plan section 2 (1) (c)

A share offering document section 4(1) (k)

Incorporation in B.C. or Canada or registered to do business in B.C. if incorporated extra provincially section 3 (a)

B.C. wages greater than 25% of total wages section 3 (b)

No more than $500 million in total assets section 3 (c)

Less than $5 million employee equity raised in previous two years section 3 (d)

State estimated number of eligible employees section 4 (1) (a)

State amount of equity capital to be raised. Must not exceed $5 million in a 2-year period section 4 (1) (b)

Equal entitlement or length of service pro rata entitlement section 4 (1) (c)

Shares are equity shares section 4 (1) (d) (i)

Shares are of one class and never previously issued (except for succession plans) section 4 (1) (d) (ii)

Shares only to be issued from treasury and only on being fully paid for in cash (except for succession plans) section 4 (1) (d) (iii)

After issue, shares registered in name of shareholder or trustee, and held in escrow for 3 years section 4 (1) (d) (iv)

Shares do not contain rights or restrictions that create a debt between the holder and any other person, will entitle the holder to reduce the impact of any loss sustained in holding the share, or create materially different rights among series of the same class of shares (except under specified conditions such as death, disability, bankruptcy or involuntary loss of employment) section 4 (1) (d) (v) and Regulation 9

Investment confirmation within 30 days to new shareholder section 4 (1) (e)

Share valuation formula section 4 (1) f) and Regulation 13 (2)

Annual report to shareholders of share value and of major corporate decisions that affect share value section 4 (1) (g)

Share redemption provisions section 4 (1) (h) (i) (j)

Use of funds declaration if contrary to section 6 (a) section 4 (1) (l)